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Can vanity do any good? It may seem obvious to answer this question in the negative, as economists have shown how reputational concerns lead agents e.g. to ignore valuable information, to herd, and to become overly risk averse. We explore how proud agents may be a social blessing. An agent may...
Persistent link: https://www.econbiz.de/10011255970
quality goods and keep up the reputation of the destination as demandcontinues to grow, producers need to gain a mark-up on …
Persistent link: https://www.econbiz.de/10011256142
This discussion paper resulted in an article in the 'Journal of Economic Behavior and Organization' (2007). Volume 62, pages 579-590.<P> When hiring an adviser (he), a policy maker (she) often faces the problem that she has incomplete information about his preferences. Some advisers are good, in...</p>
Persistent link: https://www.econbiz.de/10011256246
In models of sequential decision making herd behaviour occurs if the signals smart(dumb) agents receive are (un)correlated and if agents have reputational concerns. We show thatintroducing costly effort to become informed about project payoffs (i) eliminates herdbehaviour and (ii) shifts...
Persistent link: https://www.econbiz.de/10011256752
employeeswho are driven by concerns about their reputation for being able. When employeesare driven by monetary rewards and care …
Persistent link: https://www.econbiz.de/10011257220
Theory predicts that entrepreneurs have distinct attitudes towards risk and uncertainty, but empirical evidence is … mixed. To better understand the unique behavioral characteristics of entrepreneurs and the causes of these mixed results, we … perform a large ‘lab-in-the-field’ experiment comparing entrepreneurs to managers – a suitable comparison group – and …
Persistent link: https://www.econbiz.de/10011255528
positive for would-be entrepreneurs, in contrast to correlations in the data or uninstrumented estimates. Using firm data, we … also investigate how the newly insurance-induced entrepreneurs fare relative to their uninsured peers. Results suggest that …
Persistent link: https://www.econbiz.de/10011255609
We study entrepreneurs’ behavioral responses of effort (moral hazard) to avoid business failure.This is done in the …
Persistent link: https://www.econbiz.de/10011256235
intentions. However, empirical research aimed at establishing the importance of role models for (nascent) entrepreneurs is scarce … completed by a representative sample of 292 entrepreneurs in three major Dutch cities - entrepreneurs who have recently started …
Persistent link: https://www.econbiz.de/10011256337
Following formal privatisation of farm land and assets in CentralEurope, the change in agriculturalproduction structures has been both more limited and different thanwas initially expected. In this paper, thetheoretical reasons underlying those expectations are reviewed. Analternative...
Persistent link: https://www.econbiz.de/10011256214