Showing 1 - 10 of 1,041
We propose and initiate the study of privacy elasticity--the responsiveness of economic variables to small changes in the level of privacy given to participants in an economic system. Individuals rarely experience either full privacy or a complete lack of privacy; we propose to use differential...
Persistent link: https://www.econbiz.de/10013334433
likely to close a deal than low performers. Effective mediators improve bargaining outcomes by helping buyers and sellers … negotiations, overcoming some of the inefficiency inherent in incomplete-information settings …
Persistent link: https://www.econbiz.de/10012616607
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
private. We implement different semi-structured bargaining protocols based on deferred acceptance, and we compare their … performance to the benchmark scenario of a sealed-bid auction. We show that bargaining dramatically improves efficiency, mainly to … the benefit of players rather than the silent auctioneer. A protocol of unconstrained simultaneous bargaining performs …
Persistent link: https://www.econbiz.de/10012629485
Despite extensive use of bargaining models in economics and despite Becker's insistence on the importance of altruism … in families, the theoretical literature on bargaining ignores altruism and assumes that everyone is an egoist. This paper … shows that incorporating altruism into cooperative bargaining models shrinks the set potential cooperative bargaining …
Persistent link: https://www.econbiz.de/10013388855
asymmetric information about the preferences of their members? How effective should we expect it to be as we increase the group …
Persistent link: https://www.econbiz.de/10014226188
information is symmetrically distributed and the scoring bias is set to offset the initial asymmetry between players … signals and (ii) endogenous information structure. We show that information favoritism can play a useful role in addressing …
Persistent link: https://www.econbiz.de/10014247957
In an experiment that elicits subjects' willingness to pay (WTP) for the outcome of a lottery, we confirm the fourfold pattern of risk attitudes described by Kahneman and Tversky. In addition, we document a systematic effect of stake sizes on the magnitude and sign of the relative risk premium,...
Persistent link: https://www.econbiz.de/10013388772
Multiple price lists are a convenient tool to elicit willingness to pay (WTP) in surveys and experiments, but choice patterns such as "multiple switching" and "never switching" indicate high error rates. Existing measurement approaches often do not provide accurate standard errors and cannot...
Persistent link: https://www.econbiz.de/10013388789
We explore the labor market for Hispanic high school graduates in the United States by age using information from the …
Persistent link: https://www.econbiz.de/10013334390