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Misinformation about dividend payouts influences transaction prices in experimental asset markets

Polak, Mateusz; Polczyk, Romuald - In: E-Finanse : finansowy kwartalnik internetowy 15 (2019) 4, pp. 44-54

exposed to misinformation regarding dividend payouts in a previous game, with the correct dividend matrix also provided. The … (heterogeneously). RESULTS: Homogenous misinformation stating that the last game’s dividend payouts were high, led to larger … treatments. It was also discovered that agents receiving the ‘high dividend’ misinformation had lower returns than non …

Persistent link: https://www.econbiz.de/10012182740

Communication, credible improvements and the core of an economy with asymmetric information

Volij, Oscar - 1997

We analyze an economy with asymmetric information and endogenize the possibilities for information transmission between members of a coalition. We then define a concept of the Core that takes into account these communication possibilities. The internal consistency of the improvements is...

Persistent link: https://www.econbiz.de/10011504624

Information and small group effectiveness in large quasilinear economies

Kamishiro, Yusuke; Serrano, Roberto; Wooders, Myrna Holtz - 2015 - This version: October 2015

In large quasilinear economies, we provide sufficient conditions to establish the nonemptiness of several versions of approximate interim cores with endogenous communication. This is done by proving nonemptiness of approximate ex post cores satisfying incentive compatibility. When the number of...

Persistent link: https://www.econbiz.de/10011405139

Small informational size and interim cores of large quasilinear economies

Kamishiro, Yusuke; Serrano, Roberto - 2018

We provide nonemptiness results of approximate interim cores with endogenous communication in large quasilinear economies, where every agent's informational size is small. We offer results for both replica and more general sequences of economies.

Persistent link: https://www.econbiz.de/10011890497

Egalitarian equivalence under asymmetric information

De Clippel, Geoffroy; Pérez-Castrillo, J. David; … - 2010

We propose a definition of egalitarian equivalence that extends Pazner and Schmeidler’s (1978) concept to environments with incomplete information. If every feasible allocation rule can be implemented by an incentive compatible mechanism (as, for instance, in the case of non-exclusive...

Persistent link: https://www.econbiz.de/10008669313

Instant efficient pollution abatement under non-linear taxation and asymmetric information : the differential tax revisited

Mensink, Paul - 2004

This paper analyzes incentives for polluting firms to exchange abatement cost information under the non-linear pollution tax scheme ( differential tax') introduced by Kim and Chang [J. Regul. Econom. 5, 1993, 193-197]. It shows that polluting firms have - under mild conditions - an incentive to...

Persistent link: https://www.econbiz.de/10011606870

Optimal Control of Upstream Pollution Under Asymmetric Information

Kerschbamer, Rudolf; Maderner, Nina - 2014

This paper derives optimal bribes to reduce upstream transfrontier emissions in the presence of asymmetric information on the polluter's concern for the environment. In a model in which the starting point for the negotiations on emission reduction is a Cournot-Nash equilibrium, it is shown that...

Persistent link: https://www.econbiz.de/10014141187

Instant Efficient Pollution Abatement Under Non-Linear Taxation and Asymmetric Information : The Differential Tax Revisited

Mensink, Paul - 2014

This paper analyzes incentives for polluting firms to exchange abatement cost information under the non-linear pollution tax scheme ('differential tax') introduced by Kim and Chang [J. Regul. Econom. 5, 1993, 193-197]. It shows that polluting firms have - under mild conditions - an incentive to...

Persistent link: https://www.econbiz.de/10014070890

Core Convergence with Asymmetric Information

McLean, Richard P.; Postlewaite, Andrew - 2003

We analyze the ex ante incentive compatible core for replicated private information economies. We show that any allocation in the core when the economy is replicated sufficiently often is approximately Walrasian for the associated Arrow-Debreu economy

Persistent link: https://www.econbiz.de/10014074477

Incomplete Information, Credibility and the Core

Vohra, Rajiv; Dutta, Bhaskar - 2005

An appropriate (interim) notion of the core for an economy with incomplete information depends on the amount of information that coalitions can share. The coarse and fine core, as originally defined by Wilson (1978), correspond to two polar cases, involving no information sharing and arbitrary...

Persistent link: https://www.econbiz.de/10014064877

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