Showing 1 - 10 of 17
From the viewpoint of the independence axiom of expected utility theory, an interesting empirical dynamic choice problem involves the presence of a 'global risk', that is, a chance of losing everything whichever safe or risky option is chosen. In this experimental study, participants have to...
Persistent link: https://www.econbiz.de/10005136625
ability interacts with their own preferences and beliefs. Social neuroscience provides insights into the neural mechanism …’, and the capacity to share the feelings of others, referred to as ‘empathy’. We summarize the major findings about the …
Persistent link: https://www.econbiz.de/10005497744
Building on evidence from neurobiology and neuroscience, we model the physiological limitations faced by individuals in …
Persistent link: https://www.econbiz.de/10005656356
Large public bureaucracies are commonly regarded as less efficient than modern private corporations. This paper explores how the degree of discretionary power might account for this difference in efficiency. Indeed, increasing the discretionary power of the intermediate layers of an organization...
Persistent link: https://www.econbiz.de/10008873329
supervision. Central bank communication will constitute a central policy tool for that purpose. The paper asks how such … communication will affect financial markets, exploiting the fact that many central banks have had some financial stability role in … times, but can have a substantially larger effect during periods of financial stress. Moreover, central bank communication …
Persistent link: https://www.econbiz.de/10008692311
in quantity and quality of output. We use data from a controlled field experiment that changed the communication of the …
Persistent link: https://www.econbiz.de/10011084038
communication between the sender and the receiver in a way consistent with the theoretical predictions. Deviations from the …
Persistent link: https://www.econbiz.de/10008784698
private agents to be successful--and much of this communication is channeled through the media. This is especially true for …
Persistent link: https://www.econbiz.de/10008854477
We examine monetary policy in the euro area from both theoretical and empirical perspectives. We discuss what theory tells us the strategy of Central banks should be and contrasts it with the one employed by the ECB. We review accomplishments (and failures) of monetary policy in the euro area...
Persistent link: https://www.econbiz.de/10005791458
The paper presents a positive model of communication in federal legislatures to study the incentives of members to … consideration, communication between delegates generally suffers from a bias that make truthful revelation difficult and sometimes …-)centralization, which revisits Oates' decentralization theorem in a world of incomplete information and strategic communication. Empirical …
Persistent link: https://www.econbiz.de/10008554245