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Optimal Job Design and Career Dynamics in the Presence of Uncertainty

Pastorino, Elena - Econometric Society - 2004

The paper studies a learning model in which information about a worker's ability can be acquired symmetrically by the … showing that the equilibria of interest are strategically equivalent to the solution of an experimentation problem (a … tasks, provide a sufficiently accurate measure of ability. We then examine the strategic effects of the dynamics of learning …

Persistent link: https://www.econbiz.de/10005063711

Organizational Learning: An Experimental Study

Franco, April; Blume, Andreas; Duffy, John - Econometric Society - 2004

In this paper we experimentally investigate decentralized, organizational learning. The main objective is to understand … how learning members of an organization cope with the confounding effects of the simultaneous learning of others. We use … versions of a simple "success-or-failure" game due to Blume and Franco [2003] as our stylized model of organizational learning …

Persistent link: https://www.econbiz.de/10005342236

Optimum Consumption and Portfolio Allocations under Incomplete Information

Roche, Herve - Econometric Society - 2004

We solve in closed form the optimal consumption / portfolio choice problem for the class of isoelastic utility functions under incomplete information about the mean return of the stock price. Our approach consists in converting the original investor's problem into an equivalent program where the...

Persistent link: https://www.econbiz.de/10005129785

Threat of Dismissal: Incentive or Sorting?

Kwon, Illoong - Econometric Society - 2004

methodology to distinguish between these two explanations. The methodology rests on the learning-by-doing and the changes in the …

Persistent link: https://www.econbiz.de/10005130197

Noisy evolution in normal form games

Kuzmics, Christoph - Econometric Society - 2004

This paper analyzes a stochastic model of evolution in normal form games. The long-run behavior of individuals in this model is investigated in the limit where mutation rates tend to zero, while the expected number of mutations, and hence population sizes, tend to infinity. It is shown that...

Persistent link: https://www.econbiz.de/10005129796

Community Enforcement and the Emergence of Trust

Rodríguez-Sickert, Carlos - Econometric Society - 2004

In this paper, the link between community enforcement and co-operation in environments where trust is required is investigated. For this purpose, an assymetric trust game in which peer-to-peer sanctioning mechanisms are available is considered. Firstly, the outcome of this game is characterised...

Persistent link: https://www.econbiz.de/10005699593

Ignorance, Fixed Costs, and the Stock Market Participation Puzzle

Naudon, Alberto; Tapia, Matías - Econometric Society - 2004

While the existence of fixed costs in entering asset markets is the leading rationalization of the "participation puzzle" -the fact that most households do not hold stocks, despite the diversification gains and the significant risk-premium involved-, most motivations of these fixed costs are as...

Persistent link: https://www.econbiz.de/10005699623

Two-sided Learning and Optimal Open Economy Monetary Policy

Kam, Timothy - Econometric Society - 2004

be achieved under expectational learning. The alternative representation of optimal policy - an open-economy forecast …

Persistent link: https://www.econbiz.de/10005702553

Search and Endogenous Intermediation: A Model of the Merchant Trader

Sengupta, Abhijit; Bose, Gautam - Econometric Society - 2004

Specialist merchants and traders---agents who mediate the transfer of goods and services between producers and consumers---are central to the economic process, but there are few theoretical models in which the institution of intermediation is an endogenous part of an equilibrium. This paper...

Persistent link: https://www.econbiz.de/10005702580

General Rationalizability and Its Robustness for Strategic Form Games with Incomplete Information

Hu, Tai-Wei - Econometric Society - 2004

We extend the $\Delta$-rationalizability (see Battigalli and Siniscalchi 2003) to infinite strategic form games with incomplete information. The most important feature of the $\Delta$-rationalizability is that there is no specified epistemic type space \`{a} la Harsanyi. However, we can impose a...

Persistent link: https://www.econbiz.de/10005702725