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Why a Group Needs a Leader: Decision-making and Debate in Committees.
Dessein, Wouter - C.E.P.R. Discussion Papers - 2007
I develop a model of group decision-making, in which a committee generates proposals and holds open discussions, but … the ultimate decision is either taken by a leader (decision by authority) or by majority vote. Optimal communication … that by favouring one particular agent — the leader — authoritative decision-making reduces rent-seeking discussions and …
Persistent link: https://www.econbiz.de/10005792030
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A Decision-Theoretic Basis for Choice Shifts in Groups
Eliaz, Kfir; Ray, Debraj; Razin, Ronny - C.E.P.R. Discussion Papers - 2004
The phenomenon of choice shifts in group decision-making is fairly ubiquitous in the social psychology literature …. Faced with a choice between a ‘safe’ and ‘risky’ decision, group members appear to move to one extreme or the other … situations. This Paper demonstrates that from an individual decision-making perspective, choice shifts may be viewed as a …
Persistent link: https://www.econbiz.de/10005792294
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Buying Online: Sequential Decision Making by Shopbot Visitors
Dulleck, Uwe; Hackl, Franz; Weiss, Bernhard; … - C.E.P.R. Discussion Papers - 2008
In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...
Persistent link: https://www.econbiz.de/10005504575
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The role of intuition and reasoning in driving aversion to risk and ambiguity
Butler, Jeff; Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2011
positively correlated. We show the common link is decision style: intuitive thinkers tolerate more risk and ambiguity than …
Persistent link: https://www.econbiz.de/10008915807
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Manipulating Reliance on Intuition Reduces Risk and Ambiguity Aversion.
Butler, Jeff; Guiso, Luigi; Jappelli, Tullio - C.E.P.R. Discussion Papers - 2013
Prior research suggests that those who rely on intuition rather than effortful reasoning when making decisions are less averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of causality. In this paper, we present experimental...
Persistent link: https://www.econbiz.de/10011083555
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A Search Model of Optimal Pricing and Production
Alpern, Steve; Snower, Dennis J. - C.E.P.R. Discussion Papers - 1988
This paper presents an overview of the application of the mathematical theory of 'high-low' search to firms' pricing and production decisions. We show how this methodology can be used to determine an optimal sequence of price-quantity decisions by a firm through time. We suppose that the firm...
Persistent link: https://www.econbiz.de/10005656333
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Industries at the World Technology Frontier: Measuring R&D Efficiency in a Non-Parametric DEA Framework
Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2011
This paper identifies the leading country-industry combinations that define the world technology frontier in manufacturing. Using a unique industry dataset compiled from EU KLEMS and PATSTAT, it explores which countries and industries reveal the most efficient innovation processes. We combine a...
Persistent link: https://www.econbiz.de/10009321843
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R&D Efficiency and Barriers to Entry: A Two Stage Semi-Parametric DEA Approach
Cullmann, Astrid; Schmidt-Ehmcke, Jens; Zloczysti, Petra - C.E.P.R. Discussion Papers - 2010
This paper assesses the relative efficiency of knowledge production in the OECD using a nonparametric DEA approach. In general, resources allocated to R&D are limited and therefore must be used efficiently, given the institutional and legal constraints. The efficiency scores presented are based...
Persistent link: https://www.econbiz.de/10008684686
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Consolidating the Water Industry: An Analysis of the Potential Gains from Horizontal Integration in a Conditional Efficiency Framework
Zschille, Michael - C.E.P.R. Discussion Papers - 2012
The German potable water supply industry is regarded as being highly fragmented, thus inhibiting high potentials for efficiency improvements through consolidation. Focusing on a hypothetical restructuring of the industry, we apply Data Envelopment Analysis (DEA) to analyze the potential...
Persistent link: https://www.econbiz.de/10011083827