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Do Well Managed Firms Make Better Forecasts?
Bloom, Nicholas; Kawakubo, Takafumi; Meng, Charlotte; … - National Bureau of Economic Research - 2021
We link a new UK management survey covering 8,000 firms to panel data on productivity in manufacturing and services …. There is a large variation in management practices, which are highly correlated with productivity, profitability and size …
Persistent link: https://www.econbiz.de/10012794618
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Management Practices, Workforce Selection and Productivity
Bender, Stefan - 2016
advanced management practices. Many of these practices - including monitoring, goal setting, and the use of incentives - are … unique data set that combines detailed survey data on the management practices of German manufacturing firms with … longitudinal earnings records for their employees to study the relationship between productivity, management, worker ability, and …
Persistent link: https://www.econbiz.de/10012456573
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Complexity and Choice
Salant, Yuval; Spenkuch, Jörg L. - National Bureau of Economic Research - 2022
We develop a model of satisficing with evaluation errors that incorporates complexity at the level of individual alternatives. We test the model predictions in a novel data set with information on hundreds of millions of chess moves by experienced players. Consistent with the theory, complex...
Persistent link: https://www.econbiz.de/10013191096
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Decision-Making in Complex Households
Rangel, Marcos - 2019
Extremely rich data on farm households in Burkina Faso are used to test whether resource are allocated Pareto efficiently. The complexity of household structures, including multi-generation and polygynous households, is taken into account to developing tests from theoretical models of behavior....
Persistent link: https://www.econbiz.de/10012480455
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Comparative Advantage, Complexity and Volatility
Krishna, Pravin - 2009
Less developed countries tend to experience higher output volatility, a fact that is, in part, explained by their specialization in more volatile sectors. This paper proposes theoretical explanations for this pattern of specialization -- with the complexity of the goods playing a central role....
Persistent link: https://www.econbiz.de/10012463684
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A Model of the Optimal Complexity of Rules
Kaplow, Louis - 1992
Rules often are complex in order to distinguish different types of behavior that may have different consequences. Greater complexity thus allows better control of behavior. But individuals may need to incur costs ex ante to determine how more complex rules apply to their contemplated conduct....
Persistent link: https://www.econbiz.de/10012475023
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Complex Disclosure
Jin, Ginger Zhe - 2018
Disclosure policies have the potential to help consumers and make markets more efficient. Yet, the effectiveness of disclosure policies can be undermined if firms strategically make unfavorable information unnecessarily complicated to understand. To explore the incentives for using complexity in...
Persistent link: https://www.econbiz.de/10012453045
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Macroprudential Policy : Promise and Challenges
Mendoza, Enrique G. - 2016
Macroprudential policy holds the promise of becoming a powerful tool for preventing financial crises. Financial amplification in response to domestic shocks or global spillovers and pecuniary externalities caused by Fisherian collateral constraints provide a sound theoretical foundation for this...
Persistent link: https://www.econbiz.de/10012455812
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Complexity and Time
Enke, Benjamin; Graeber, Thomas Wilhelm; Oprea, Ryan - National Bureau of Economic Research - 2023
We provide experimental evidence that core intertemporal choice anomalies -- including extreme short-run impatience, structural estimates of present bias, hyperbolicity and transitivity violations -- are driven by complexity rather than time or risk preferences. First, all anomalies also arise...
Persistent link: https://www.econbiz.de/10014247968
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The Virtue of Complexity in Return Prediction
Kelly, Bryan T.; Malamud, Semyon; Zhou, Kangying - National Bureau of Economic Research - 2022
The extant literature predicts market returns with "simple" models that use only a few parameters. Contrary to conventional wisdom, we theoretically prove that simple models severely understate return predictability compared to "complex" models in which the number of parameters exceeds the...
Persistent link: https://www.econbiz.de/10013334435