Showing 1 - 10 of 41
To understand the disruption and implications of distributed ledger technologies for financial reporting and auditing, we analyze firm misreporting, auditor monitoring and competition, and regulatory policy in a unified model. A federated blockchain for financial reporting and auditing can...
Persistent link: https://www.econbiz.de/10015056089
We develop a theory of bank board risk committees. With this theory, such committees are valuable even though there is no expectation that bank risk is lower if the bank has a well-functioning risk committee. As predicted by our theory (1) many large and complex banks voluntarily chose to have a...
Persistent link: https://www.econbiz.de/10012599396
It is sometimes said that an effect of the COVID-19 pandemic will be heightened appreciation of the importance of scientific research and expertise. We test this hypothesis by examining how exposure to previous epidemics affected trust in science and scientists. Building on the "impressionable...
Persistent link: https://www.econbiz.de/10012482331
Consider an environment where long-lived experts repeatedly interact with short-lived customers. In periods when an … appropriate. We find that there exists an equilibrium in which experts always play truthfully and choose the customer's preferred …If experts have private information regarding their own payoffs as well as what treatments are appropriate, then there …
Persistent link: https://www.econbiz.de/10012463727
In this paper we study the complete evolution of a final-offer arbitration system used in New Jersey with data we have systematically collected over the 18-year life of the program. Covering the wages of police officers and firefighters, this system provides virtually a laboratory setting for...
Persistent link: https://www.econbiz.de/10012467496
We show that personal experiences of inflation strongly influence the hawkish or dovish leanings of central bankers. For all members of the Federal Open Market Committee (FOMC) since 1951, we estimate an adaptive learning rule based on their lifetime inflation data. The resulting...
Persistent link: https://www.econbiz.de/10012455453
behavioral experts regarding the effectiveness of the treatments, allowing us to compare results to expectations. We find that (i … compare the results to forecasts by 208 experts. On average, the experts anticipate several key features, like the … effectiveness of psychological motivators. A sizeable share of experts, however, expects crowd-out, probability weighting, and pure …
Persistent link: https://www.econbiz.de/10012456482
Physicians, acting in their role as experts, are often faced with situations where they must trade off personal and …
Persistent link: https://www.econbiz.de/10012456504
combines these methods by using observed decisions by experts to reduce the demensionality of the feature space and allow the … categorization of decisions by their propensity score. The fact that the human capital of experts is heterogeneous implies that …
Persistent link: https://www.econbiz.de/10012456551
Local opinion leaders may play a key role in easing information frictions associated with technology adoption. This paper analyzes the influence of physician investigators who lead clinical trials for new cancer drugs. By comparing diffusion patterns across 21 new cancer drugs, we separate...
Persistent link: https://www.econbiz.de/10012457788