Showing 1 - 10 of 116
the face of what they consider the incoherent era of "pluralism" or "postmodernism" that began in the late twentieth …
Persistent link: https://www.econbiz.de/10012463576
Research has repeatedly shown that altruism is lower in diverse communities. Can this phenomenon be counteracted by government intervention? To answer this question, this paper introduces diversity to the canonical model of "warm glow" giving. Diversity may have two effects on incentives: it may...
Persistent link: https://www.econbiz.de/10012465304
of a pluralism without privilege, but they also had doubts about its possibility. They offered some reasons to prefer … pluralism with privilege to the absence of both. They worried that centralization, democratic or otherwise, might be the … preeminent fact of modern state consolidation, and that purely voluntary, equal, associational pluralism might not be powerful …
Persistent link: https://www.econbiz.de/10012457413
Many studies find that presentation of balanced information, offering competing positions, can promote polarization and thus increase preexisting social divisions. We offer two explanations for this apparently puzzling phenomenon. The first involves what we call asymmetric Bayesianism: the same...
Persistent link: https://www.econbiz.de/10012459687
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
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
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
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
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
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