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Social Interactions in a Synchronization Game

Paula, Aureo de - Econometric Society - 2004

This paper analyzes and structurally estimates a synchronization game. Agents take part in an activity and benefit from the participation of others. Coordinated actions are fruit of correlated effects as well as endogenous interactions. Standard tools applied in optimal stopping problems for...

Persistent link: https://www.econbiz.de/10005170255

Achieving Intertemporal Efficiency and Symmetry through Intratemporal Asymmetry: (Eventual) Turn Taking in a Class of Repeated Mixed-Interest Games

Mui, Vai-Lam; Lau, Sau-Him Paul - Econometric Society - 2004

static results, and study the welfare properties of the TTIR equilibrium. …

Persistent link: https://www.econbiz.de/10005702715

The No Trade Principle in General Environments

Wong, Ngai-Ching; Ng, Man-Chung - Econometric Society - 2004

The no trade principle asserts that risk-neutral agents are not prepared to trade if and only if a common prior exists. The purpose of this article is to provide general versions of this principle. We first study the case when no topological assumption is made on the state space. Bets are...

Persistent link: https://www.econbiz.de/10005342381

A Model of Gossip

Li, Wei - Econometric Society - 2004

This paper analyzes how the gossip process can be manipulated by biased people and the impact of such manipulation on information transmission. In this model, a single piece of information is transmitted via a chain of agents with privately known types. Each agent may be either objective or...

Persistent link: https://www.econbiz.de/10005130172

Delegation in a Cheap-Talk Game: A Voting Example

Sengupta, Kunal; Sanyal, Amal - Econometric Society - 2004

Suppose an agent is contemplating an action with state-contingent payoffs, and has a prior belief about the probability of the states. She hires an expert to update her priors before the action. Experts may be both informed as well as uninformed, and are not necessarily truthful. The question...

Persistent link: https://www.econbiz.de/10005130238

Punitive Damage Awards, Frivolous Lawsuits and Firmâ€™s Level of Care

Nikitin, Maxim; Landeo, Claudia M. - Econometric Society - 2004

) theoretical framework on litigation by explicitly modeling frivolous lawsuits. In this way, we capture the main welfare effects of … the welfare effect of punitive damages, and to explore the effect of split-awards and caps on the probability that firms … expected costs by reducing expenditures on safety. Finally, we find that the overall welfare effect of these reforms is …

Persistent link: https://www.econbiz.de/10005063694

Deterrence, Lawsuits and Litigation Outcomes under Agency Problems and Court Errors

Landeo, Claudia M.; Nikitin, Maxim - Econometric Society - 2004

establish sufficient conditions under which the overall welfare effect of these reforms is unambiguously positive, because the …

Persistent link: https://www.econbiz.de/10005699597

Split-Award Tort Reform, Firm's Level of Care and Litigation Outcomes

Nikitin, Maxim; Landeo, Claudia M. - Econometric Society - 2004

In an attempt to reduce the liability insurance costs of firms, several US states have implemented many different kinds of tort reform. Some reforms take the form of caps or limits on punitive damage awards while others have mandated that a proportion of the award be allocated to the plaintiff...

Persistent link: https://www.econbiz.de/10005699599

Multidimensional Private Value Auctions

Morris, Stephen; Fang, Hanming - Econometric Society - 2004

We consider parametric examples of two-bidder private value auctions in which each bidder observes her own private valuation as well as noisy signals about her opponent’s private valuation. In such multidimensional private value auction environments, we show that the revenue equivalence...

Persistent link: https://www.econbiz.de/10005699666

Split-Award Tort Reform and Settlement Outcomes: An Experimental Investigation

Nikitin, Maxim; Babcock, Linda; Landeo, Claudia M. - Econometric Society - 2004

In an attempt to reduce the liability insurance costs of firms, several US states have implemented many different kinds of tort reform. Some reforms take the form of caps or limits on punitive damage awards while others, called â€œsplit-awardsâ€, have mandated that a proportion of the...

Persistent link: https://www.econbiz.de/10005702607

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