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In this paper, we examine the empirical implications of reputation formation using a game-theoretic model of intra …-familial interactions. We consider parental reputation in repeated two-stage games in which daughters' decision to have a child as a … work of Milgrom and Roberts (1982) and Kreps and Wilson (1982) on reputation in repeated games, we show that parents have …
Persistent link: https://www.econbiz.de/10012471097
This paper examines reputation formation in intra-familial interactions. We consider parental reputation in a repeated …
Persistent link: https://www.econbiz.de/10012466799
This paper examines the effect that the coexistence of small and large banks, with different interests in the international market, has on the debt renegotiation process. Making use of a reputational model, we argue that the presence of small banks implies that debtor countries have a harder...
Persistent link: https://www.econbiz.de/10012476357
Macroeconomic dynamics are shaped by how individual incentives to spend and accumulate interact with the decisions of others. The goal of this paper is to identify--within a simple large-game-theoretic structure--which types of agent interactions favor which types of dynamic equilibrium...
Persistent link: https://www.econbiz.de/10014635624
outline a theory that considers conditions under which a politician would and would not prefer reputational development and …
Persistent link: https://www.econbiz.de/10012471301
In a discretionary regime the monetary authority can print more money and create more inflation than people expect. But, although these inflation surprises can have some benefits, they cannot arise systematically in equilibrium when people understand the policymaker's incentives and form their...
Persistent link: https://www.econbiz.de/10012478024
characteristics produce structures utilizing reputation …
Persistent link: https://www.econbiz.de/10012479031
We develop a theory of the market for individual reputation, an indicator of regard by one's peers and others. The … central questions are: 1) Does the quantity of exposures raise reputation independent of their quality? and 2) Assuming that … overall quality matters for reputation, does the quality of an individual's most important exposure have an extra effect on …
Persistent link: https://www.econbiz.de/10012463122
Friedman (1962) argued that a free market in which schools compete based upon their reputation would lead to an …: school reputation in the spirit of Holmstrom (1982). The first result is that if schools cannot select students based upon …
Persistent link: https://www.econbiz.de/10012463538
which firms slant their reports toward the prior beliefs of their customers in order to build a reputation for quality. Bias …
Persistent link: https://www.econbiz.de/10012467012