Showing 1 - 10 of 345
in quantity and quality of output. We use data from a controlled field experiment that changed the communication of the …
Persistent link: https://www.econbiz.de/10010281805
News reports and communication are inherently constrained by space, time, and attention. As a result, news sources …
Persistent link: https://www.econbiz.de/10012840217
mediated by learning. Using administrative data from speed cameras that capture the full driving histories of more than a … and temporary salience effects. Instead, it supports a learning model in which agents update their priors on the expected … punishment in a 'coarse' manner. Additional results indicate that learning from law enforcement affects drivers' behavior more …
Persistent link: https://www.econbiz.de/10012843418
The real option theory provides a useful tool to evaluate an R&D investment under uncertainty because, unlike the NPV (Net Present Value), it considers the managerial flexibility that may be expand the investment opportunity value. However, most R&D investment projects are open to competing...
Persistent link: https://www.econbiz.de/10010266007
role of learning and risk aversion. It bridges two strands of literature: one focused on the role learning for the success … aversion on IEA formation under no learning. Combining learning and risk aversion seems appropriate as the uncertainties … through learning. It is shown that the negative conclusion with respect to the role of learning derived for risk neutrality …
Persistent link: https://www.econbiz.de/10010333447
credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication … networks, such coordination may be very difficult to achieve and may depend on the communication technology and the network … structure. We examine how pre-play communication and clustering within networks affect coordination in a challenging …
Persistent link: https://www.econbiz.de/10012866385
Medical expenditure risk can pose a major threat to living standards. We derive decomposable measures of catastrophic medical expenditure risk from reference-dependent utility with loss aversion. We propose a quantile regression based method of estimating risk exposure from cross-section data...
Persistent link: https://www.econbiz.de/10010293913
This paper sheds light on an empirical controversy about the effect of competition on price discrimination. We introduce individual demand uncertainty into Hotelling's model of product differentiation and show that firms offer advance purchase discounts. Consumers choose between an early...
Persistent link: https://www.econbiz.de/10010328722
Although social pressure may affect the behavior of individuals, it is very hard to evaluate empirically. A soccer field is an attractive testing ground in the sense that both performance and social pressure by spectators are measurable. The drawback is that the number of spectators is an...
Persistent link: https://www.econbiz.de/10010328729
This paper examines the consequences of international financial integration in a two sector heterogeneous agent dynamic general equilibrium model of occupational choice with financial constraints and idiosyncratic risks. We discuss the macroeconomic and distributional effects of financial market...
Persistent link: https://www.econbiz.de/10010328743