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This paper examines the role of social rewards as a corrective mechanism for activities which generate externalities. The focus of this paper is the circumstances under which sicial rewards provide effective and feasible incentive mechanism that may replace laws and regulations.
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This paper argues that when organizations are imperfect in the sense that members may make mistakes and messages may be distorted, then the inner structure of the organization should be explicitly modeled. This paper proposes a framework for studying games between imperfect organizations.
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functions can just as easily reject hyperbolic discounting as well. Futhermore, a decision-making procedure based on similarity …" requires opening the black box of decision-makers rather than modifying funcional forms. …
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A consumer has to make a consumption decision. She is modeled as making a binary decision regarding a suggested change … have to the various aspects of this decision. It is proposed that consumers evaluate decisions based on these affective … packages. Importantly, a package generates a link between goals and means, and some of the affect related to the decision is …
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The Kydland-Prescott, Barro-Gordon inflation bias result relies on the presumption that policymakers aim at achieving a level of employment above the normal level. This presumption has been recently questioned by both academics and policymakers on the ground of realism. This note shows that even...
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In many decision scenarios, one has to choose an element from a set S given some reference point e. For the case where …
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