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We analyze costly information acquisition and information revelation in groups in a dynamic setting. Even when group members have perfectly aligned interests the group may inefficiently delay decisions. When deadlines are far away, uninformed group members freeride on each others' efforts to...
Persistent link: https://www.econbiz.de/10009246605
monthly panel data between 1996 and 2001, we find that: (1) opportunistic political cycles in regional fiscal policies are …
Persistent link: https://www.econbiz.de/10005662200