Showing 1 - 10 of 97
This paper reports findings from an experiment that implements a search-theoretic model of money as a medium of …
Persistent link: https://www.econbiz.de/10005820595
Persistent link: https://www.econbiz.de/10005563556
of the monetary equilibrium. We also study versions of the model without money where all equilibria involve non …-monetary gift-exchange. We find that welfare is higher in the model with money than without money, suggesting that money plays a …
Persistent link: https://www.econbiz.de/10010777183
A sender may communicate with a decision maker through intermediaries. In this model, an objective sender and intermediary pass on information truthfully, while biased ones favor a particular agenda but also have reputational concerns. I show that the biased sender and the biased intermediary's...
Persistent link: https://www.econbiz.de/10008542963
Persistent link: https://www.econbiz.de/10005241204
This paper studies how agents with conflicting interests learn to cooperate when the details of cooperation are not common knowledge. It considers a repeated game in which one player has incomplete information about when and how her partner can provide benefits. Initially, monitoring is...
Persistent link: https://www.econbiz.de/10008622163
I discuss the measurement of world poverty and inequality, with particular attention to the role of purchasing power parity (PPP) price indexes from the International Comparison Project. Global inequality increased with the latest revision of the ICP, and this reduced the global poverty line...
Persistent link: https://www.econbiz.de/10008622175
This paper investigates the role of social learning in the diffusion of a new agricultural technology in Ghana. We use unique data on farmers' communication patterns to define each individual's information neighborhood. Conditional on many potentially confounding variables, we find evidence that...
Persistent link: https://www.econbiz.de/10008622178
One lingering puzzle is why voluntary contributions to public goods decline over time in experimental and real-world settings. We show that the decline of cooperation is driven by individual preferences for imperfect conditional cooperation. Many people's desire to contribute less than others,...
Persistent link: https://www.econbiz.de/10008622188
We experimentally test an endogenous-timing investment model in which subjects privately observe their cost of investing and a signal correlated with the common investment return. Subjects overinvest, relative to Nash. We separately consider whether subjects draw inferences, in hindsight, and...
Persistent link: https://www.econbiz.de/10008574554