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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

Unraveling of Dynamic Sorting

Damiano, Ettore; Li, Hao - Econometric Society - 2004

We consider a two-sided, finite-horizon search and matching model with heterogeneous types and complementarity between types. The quality of the pool of potential partners deteriorates as agents who have found mutually agreeable matches exit the market. When search is costless and all agents...

Persistent link: https://www.econbiz.de/10005328853

Knowledge Creation as a Square Dance on the Hilbert Cube

Fujita, Masahisa; Berliant, Marcus - Econometric Society - 2004

This paper presents a micro-model of knowledge creation and transfer in a small group of people. It is intended to contribute eventually to the development of microfoundations for aggregate models of knowledge externalities used in various literatures, such as those pertaining to endogenous...

Persistent link: https://www.econbiz.de/10005342188

simultaneous search

smith, lones; chade, hector - Econometric Society - 2004

We introduce and solve a new class of static portfolio choice problems, where only the best realized alternative matters. A decision maker must simultaneously choose among independent ranked options, and the better alternatives have a lower chance of panning out. Each choice is costly, and just...

Persistent link: https://www.econbiz.de/10005342200

The Emergence of Captive Finance Companies and Risk Segmentation of the Consumer Loan Market:Theory and Evidence

Staten, Michael E.; Barron, John M.; Chong, Andrew B. - Econometric Society - 2004

A parental seller with market power to some degree in its product market can earn rents. In this context, there is a gain to granting credit for the purchase of the product and thus the establishment of captive finance company for expanding the sales by offering loans to consumers who need...

Persistent link: https://www.econbiz.de/10005086411

Is Learning by Migrating in Megalopolis Really Important?

Machikita, Tomohiro - Econometric Society - 2004

This paper examines learning by migrating effects on the productivity of migrants who move to the ``megalopolis" from … framework to empirically test for self-selection on the migration decision and learning by migrating. The role of the …

Persistent link: https://www.econbiz.de/10005086427