Showing 1 - 10 of 83
and incomplete information inherent in NPS pollution. By incorporating information acquisition into a pollution control … higher data collection cost induces more data collection, and (iii) an increase in information productivity leads to an … value of information acquisition depends on the degree of heterogeneity of polluting sites. …
Persistent link: https://www.econbiz.de/10005230880
This study explores people's risk attitudes after having suffered large real-world losses following a natural disaster. Using the margins of the 2011 Australian floods (Brisbane) as a natural experimental setting, we find that homeowners who were victims of the floods and face large losses in...
Persistent link: https://www.econbiz.de/10010904916
This survey paper examines various information insufficiencies in biodiversity conservation and their impact of … information, and 4) monitoring problem. The consequences of these four types of information insufficiencies on the choice of …
Persistent link: https://www.econbiz.de/10005385328
We present a simple procedure that selects the strategies most likely to be played by inexperienced agents who interact in one shot 2x2 matching pennies games. As a first step we axiomatically describe players’ beliefs. We find the minimax regret criterion to be the simplest functional form...
Persistent link: https://www.econbiz.de/10005385407
two reasons: First, smaller choice sets may provide information and reduce the need for the agent to contemplate the … when they do not provide any information to the agent. I identify which of these reasons drives individual behavior in a … laboratory experiment. I find strong support for both the information and cognitive overload arguments. The effects do not …
Persistent link: https://www.econbiz.de/10005385513
School of Economics, University of Nottingham, University Park Campus and Department of Economics (AE1), Maastricht University
Persistent link: https://www.econbiz.de/10010552188
endogenously on the amount of information they would like to have and find that local (endogenous) information is equally efficient … in ensuring successful coordination as full information. We provide an intuitive explanation of these facts which is …
Persistent link: https://www.econbiz.de/10008467327
Substantial evidence has accumulated in recent empirical works on the limited ability of the Nash equilibrium to rationalize observed behavior in many classes of games played by experimental subjects. This realization has led to several attempts aimed at finding tractable equilibrium concepts...
Persistent link: https://www.econbiz.de/10005008036
Pairwise stability (Jackson and Wolinsky, 1996) is the standard stability concept in network formation. It assumes myopic behavior of the agents in the sense that they do not forecast how others might react to their actions. Assuming that agents are farsighted, related stability concepts have...
Persistent link: https://www.econbiz.de/10009131101
We study extrapolation between games in a laboratory experiment. Participants in our experiment first play either the dominance solvable guessing game or a Coordination version of the guessing game for five rounds. Afterwards they play a 3x3 normal form game for ten rounds with random matching...
Persistent link: https://www.econbiz.de/10008828406