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job tenure encourage the development of expertise and problem solving capacity in the bureaucracy. In addition, we …
Persistent link: https://www.econbiz.de/10005076581
equilibrium corruption in a bureaucracy are modeled. Different degrees of media freedom and competition affect production and …This paper investigates the relationship between a bureaucracy and mass media industry, and its implications to … corruption. We develop a bureaucratic model of corruption with mass media. A representative profit maximizing media firm seeks …
Persistent link: https://www.econbiz.de/10005560959
which multiple sources of information – from the bureaucracy, an interest group, or a legislature’s own in-house development … – can be brought to bear on policy. Lobbyists begin this process by selecting a venue – Congress or a standing bureaucracy …
Persistent link: https://www.econbiz.de/10005560982
This paper proposes a new test to distinguish between the two leading theories of discrimination: preference versus information. Discrimination based on preferences occurs when people behave as if they refuse to change their stereotypes about the capabilities of discriminated individuals. Those...
Persistent link: https://www.econbiz.de/10005076553
Auctions used to sell houses often attract a diverse group of bidders, with realtors and speculators out for a bargain competing against buyers with a real interest in the house. Value asymmetries such as these necessitate careful consideration of the auction format as revenue equivalence cannot...
Persistent link: https://www.econbiz.de/10005077067
Models of herd behaviour and informational cascades were theoretically developed in 1992 respectively by Banerjee (A simple model of herd behavior) and Bikhchandani, Hirshleifer and Welch (A Theory of Fads, Fashion, Custom and Cultural Change as Informational Cascades). Both articles pointed out...
Persistent link: https://www.econbiz.de/10005124961
In a laboratory experiment, subjects played ten two-person 3x3 constant sum games and stated beliefs about the frequencies of play by their opponents. Contrary to previous experimental evidence, game-theoretical predictions work well: 80% of actions coincided with Nash equilibrium, subjects were...
Persistent link: https://www.econbiz.de/10005125558
We design a novel sequential public goods experiment to study reciprocity, or conditional cooperation. In contrast to the standard simultaneous contribution game, our sequential design provides direct evidence on how subjects condition their own contributions on the contributions of other...
Persistent link: https://www.econbiz.de/10005125562
We introduce a generalized theoretical approach to study imitation models and subject the models to rigorous experimental testing. In our theoretical analysis we find that the different predictions of previous imitation models are due to different informational assumptions, not to different...
Persistent link: https://www.econbiz.de/10005125578
Economic theory predicts that in a first-price auction with equal and observable valuations, bidders earn zero profits. Theory also predicts that if valuations are not common knowledge, then since it is weakly dominated to bid your valuation, bidders will bid less and earn positive profits....
Persistent link: https://www.econbiz.de/10005125581