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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
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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
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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
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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
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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 … 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
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Asymmetric Information, Stock Returns and Monetary Policy: A Theoretical and Empirical Analysis
Tas, Bedri Kamil Onur - Econometric Society - 2004
the information and learning dynamics between the Federal Reserve and a representative investor. Stock prices react to …
Persistent link: https://www.econbiz.de/10005130171
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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
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Knowledge Creation as a Square Dance on the Hilbert Cube
Fujita, Masahisa; Berliant, Marcus - Econometric Society - 2004
literatures, such as those pertaining to endogenous growth theory, urban agglomeration and growth, organizational R&D and …
Persistent link: https://www.econbiz.de/10005342188
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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
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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