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Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change
Angeletos, George-Marios - 2004
Global games of regime change -- that is, coordination games of incomplete information in which a status quo is …
Persistent link: https://www.econbiz.de/10012467670
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Transparency of Information and Coordination in Economies with Investment Complementarities
Angeletos, George-Marios - 2004
How do public and private information affect equilibrium allocations and social welfare in economies with investment … perverse effect of increasing aggregate volatility. Nevertheless, as long as there is no value to lotteries, welfare … transparency is optimal. This is because more transparency facilitates more effective coordination, which is valuable from a social …
Persistent link: https://www.econbiz.de/10012468302
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Bayesian Persuasion with Lie Detection
Ederer, Florian; Min, Weicheng - National Bureau of Economic Research - 2022
How does lie detection constrain the potential for one person to persuade another to change her action? We consider a model of Bayesian persuasion in which the Receiver can detect lies with positive probability. We show that the Sender lies more when the lie detection probability increases. As...
Persistent link: https://www.econbiz.de/10013210093
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Dynamic Collective Action and the Power of Large Numbers
Battaglini, Marco; Palfrey, Thomas R. - National Bureau of Economic Research - 2024
: welfare converges to either full efficiency or zero as n→∞ depending on a precise condition on the rate at which the share …
Persistent link: https://www.econbiz.de/10014544751
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(Pro-) Social Learning and Strategic Disclosure
Bénabou, Roland; Vellodi, Nikhil - National Bureau of Economic Research - 2024
We study a sequential experimentation model with endogenous feedback. Agents choose between a safe and risky action, the latter generating stochastic rewards. When making this choice, each agent is selfishly motivated (myopic). However, agents can disclose their experiences to a public record,...
Persistent link: https://www.econbiz.de/10014544761
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How Are Insurance Markets Adapting to Climate Change? Risk Selection and Regulation in the Market for Homeowners Insurance
Boomhower, Judson; Fowlie, Meredith; Gellman, Jacob; … - National Bureau of Economic Research - 2024
As climate risk escalates, property insurance is critical to reduce the risk exposure of households and firms and to aid recovery when disasters strike. To perform these functions efficiently, insurers need to access high quality information about disaster risk and set prices that accurately...
Persistent link: https://www.econbiz.de/10014576654
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Organizing for Collective Action : Olson Revisited
Battaglini, Marco; Palfrey, Thomas R. - National Bureau of Economic Research - 2023
We study a standard collective action problem in which successful achievement of a group interest requires costly participation by some fraction of its members. How should we model the internal organization of these groups when there is asymmetric information about the preferences of their...
Persistent link: https://www.econbiz.de/10014226188
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Information Favoritism and Scoring Bias in Contests
Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - National Bureau of Economic Research - 2023
Two potentially asymmetric players compete for a prize of common value, which is initially unknown, by exerting efforts. A designer has two instruments for contest design. First, she decides whether and how to disclose an informative signal of the prize value to players. Second, she sets the...
Persistent link: https://www.econbiz.de/10014247957
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Informationally Efficient Climate Policy : Designing Markets to Measure and Price Externalities
Lemoine, Derek - National Bureau of Economic Research - 2022
I study how policymakers can access and act on the information about climate change damages that is dispersed throughout the economy. I analyze a new dynamic deposit-refund instrument (called "carbon shares") that I show can: i) efficiently price emissions conditional on information, ii)...
Persistent link: https://www.econbiz.de/10013435097
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Secrecy Rules and Exploratory Investment : Theory and Evidence from the Shale Boom
Covert, Thomas R.; Sweeney, Richard L. - National Bureau of Economic Research - 2022
We analyze how information disclosure policy affects investment efficiency in non-cooperative settings with information externalities. In a two-firm, two-period model, we characterize equilibrium behavior under policies which disclose whether investment returns exceed a predefined level. These...
Persistent link: https://www.econbiz.de/10013435110