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Optimal policy intervention, constrained obfuscation and the social value of public information
Colombo, Luca; Femminis, Gianluca - In: Economics Letters 123 (2014) 2, pp. 224-226
We study the welfare implications of public information precision in a beauty contest framework allowing for optimal … public information precision can be welfare improving. …
Persistent link: https://www.econbiz.de/10010906357
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The social value of public information with convex costs of information acquisition
Ui, Takashi - In: Economics Letters 125 (2014) 2, pp. 249-252
In a beauty contest framework, welfare can decrease with public information if the precision of private information is … exogenous, whereas welfare necessarily increases with public information if the precision is endogenous with linear costs of … acquisition. The main result of this paper is a necessary and sufficient condition for welfare to increase with public information …
Persistent link: https://www.econbiz.de/10011076552
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Market power and reputational concerns in the ratings industry
Mariano, Beatriz - In: Journal of Banking & Finance 36 (2012) 6, pp. 1616-1626
This paper studies the incentives of rating agencies to reveal the information that they obtain about their client firms. In the model, rating agencies seek to maximize their reputation and protect their market power. They observe public information and obtain either precise or noisy private...
Persistent link: https://www.econbiz.de/10010574832
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Mechanim design and intentions
Bierbrauer, Felix; Netzer, Nick - 2014 - Revised version, April 2014
Satterthwaite (1983) are then turned into possibility results. We also provide a systematic account of the welfare implications of …
Persistent link: https://www.econbiz.de/10010354632
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Mechanim design and intentions
Bierbrauer, Felix; Netzer, Nick - 2012 - This version: August 2012
into possibility results. Second, we provide a systematic account of the welfare implications of kindness sensations …
Persistent link: https://www.econbiz.de/10009743166
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Chapter 59 Strategic aspects of political systems
Banks, Jeffrey S. - In: Handbook of game theory with economic applications : …, (pp. 2203-2228). 2002
Early results on the emptiness of the core and the majority-rule-chaos results led to the recognition of the importance of modeling institutional details in political processes. A sample of the literature on game-theoretic models of political phenomena that ensued is presented. In the case of...
Persistent link: https://www.econbiz.de/10014024486
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Judgment aggregation in search for the truth
Bozbay, İrem; Dietrich, Franz; Peters, Hans - In: Games and Economic Behavior 87 (2014) C, pp. 571-590
We analyze the problem of aggregating judgments over multiple issues from the perspective of whether aggregate judgments manage to efficiently use all voters' private information. While new in judgment aggregation theory, this perspective is familiar in a different body of literature about...
Persistent link: https://www.econbiz.de/10011049697
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Public information and the concern for coordination
Boun My, Kene; Cornand, Camille; Dos Santos Ferreira, … - In: Journal of behavioral and experimental economics 93 (2021), pp. 1-13
Persistent link: https://www.econbiz.de/10013176692
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Competing information sources
Einhorn, Eti - In: The accounting review : a publication of the American … 93 (2018) 4, pp. 151-176
Persistent link: https://www.econbiz.de/10011906603
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Voting with public information
Liu, Shuo - 2015
We study the effect of public information on collective decision-making in a committee with members of both common and conflicting interests. We show that the set of preferences that allow for the existence of an informative voting equilibrium can be heavily restricted by the presence of a...
Persistent link: https://www.econbiz.de/10010512059