Showing 1 - 10 of 2,118
-driven theory of dynamic pricing in which the Phillips curve slope is endogenous to systematic aspects of monetary policy. In our …
Persistent link: https://www.econbiz.de/10013250042
rationality that we estimate prevent the economy from falling into indeterminacy …
Persistent link: https://www.econbiz.de/10012866811
This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...
Persistent link: https://www.econbiz.de/10013229788
rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to …
Persistent link: https://www.econbiz.de/10014346847
This paper presents novel evidence for the prevalence of deviations from rational behavior in human decision making – and for the corresponding causes and consequences. The analysis is based on move-by-move data from chess tournaments and an identification strategy that compares behavior of...
Persistent link: https://www.econbiz.de/10012831655
Using a novel dataset that contains qualitative firm survey data on sales forecasts as well as balance-sheet data on realized sales, we document that only major forecast errors are predictable and display autocorrelation. This result is a particular violation of the Full Information Rational...
Persistent link: https://www.econbiz.de/10012839767
deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … distance to the theory. We apply our methodology to three recent large-scale experiments. Many subjects in those experiments …
Persistent link: https://www.econbiz.de/10012892237
Management research has long focused on the theory of the firm, studying for-profit organizations that produce … organizational theory, innovation economics, and industrial organization should therefore be critically examined. …
Persistent link: https://www.econbiz.de/10010274756
The weak rationality principle is not an empirical statement but a heuristic rule of how to proceed in social sciences …-foundation and, therefore, employ the rationality assumption in economic models. Then, with reference to the ?bounded rationality … a part of the rationality assumption. We conclude with some remarks on handling the problems of ?free will? as well as …
Persistent link: https://www.econbiz.de/10010272873
, endogenous formation of efficient long-run employment relations. Our results inform the theory of the firm by showing how …
Persistent link: https://www.econbiz.de/10010291496