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Kimball, Miles S. - 2015

Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called "bounded rationality …

Persistent link: https://www.econbiz.de/10012457832

Conflict and Deterrence under Strategic Risk

Chassang, Sylvain - 2008

We examine the mechanics of deterrence and intervention when fear is a motive for conflict. We contrast results obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk, where players have different assessments of their...

Persistent link: https://www.econbiz.de/10012464685

Neighborhood-Based Information Costs

Hébert, Benjamin M. - 2020

We propose a new measure of the cost of information structures in rational inattention problems, the "neighborhood-based" cost functions, given that many applications involve states with a topological structure. These cost functions summarize the results of a sequential information sampling...

Persistent link: https://www.econbiz.de/10012479267

Learning and Disagreement in an Uncertain World

Acemoglu, Daron - 2006

Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...

Persistent link: https://www.econbiz.de/10012466013

Moral Costs and Rational Choice : Theory and Experimental Evidence

Cox, James C. - 2016

The literature exploring other regarding behavior sheds important light on interesting social phenomena, yet less attention has been given to how the received results speak to foundational assumptions within economics. Our study synthesizes the empirical evidence, showing that recent work...

Persistent link: https://www.econbiz.de/10012456441

Changing the Boston School Choice Mechanism

Abdulkadiroglu, Atila - 2006

previous Boston mechanism, a priority matching mechanism, and the case in favor of the change to a strategy-proof mechanism … unassigned students could have been assigned to one of their stated choices with a different strategy under the current mechanism …. This interaction between sophisticated and unsophisticated players identifies a new rationale for strategy-proof mechanisms …

Persistent link: https://www.econbiz.de/10012466706

Capital Share Risk in U.S. Asset Pricing

Lettau, Martin - 2014

A single macroeconomic factor based on growth in the capital share of aggregate income exhibits significant explanatory power for expected returns across a range of equity characteristic portfolios and non-equity asset classes, with risk price estimates that are of the same sign and similar in...

Persistent link: https://www.econbiz.de/10012457922

Effective Monetary Policy Strategies in New Keynesian Models : A Re-examination

Chung, Hess - 2014

strategy are common across the two models: In particular, highly inertial interest rate rules that respond to nominal income or …

Persistent link: https://www.econbiz.de/10012458054

Understanding Defensive Equity

Novy-Marx, Robert - 2014

the abnormal performance of defensive equity (i.e., low volatility and/or low beta strategies). While defensive strategy …

Persistent link: https://www.econbiz.de/10012458074

Strategic Trading in Informationally Complex Environments

Lambert, Nicolas S. - 2014

We study trading behavior and the properties of prices in informationally complex markets. Our model is based on the single-period version of the linear-normal framework of Kyle (1985). We allow for essentially arbitrary correlations among the random variables involved in the model: the value of...

Persistent link: https://www.econbiz.de/10012458151

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