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Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …
Persistent link: https://www.econbiz.de/10013087270
We study the role of information exchange, leadership and coordination in team or partnership structures. For this … held information on the joint production process. Once individual information is shared, team members decide individually … in this environment such that team members communicate their private information and exert efficient productive efforts …
Persistent link: https://www.econbiz.de/10013049204
Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …
Persistent link: https://www.econbiz.de/10010877742
Politicians seeking reelection need voters to know what they have done for them. Thus, incentives may arise to spend more money where media coverage is higher. We present a simple model to explain the allocation of public spending across jurisdictions contingent on media activity. An incumbent...
Persistent link: https://www.econbiz.de/10005181563
We study the impact of political knowledge on the attitudes of European citizens towards the possible distribution of responsibilities between European level institutions and national governments in three policy areas: foreign policy, defence and immigration policy. The hypothesis tested is that...
Persistent link: https://www.econbiz.de/10008861864
estimating risk exposure from cross-section data containing information on the means of financing health payments. We estimate …
Persistent link: https://www.econbiz.de/10013315801
In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change in the standard deviation of the length of life. In a first best framework, where a benevolent government exercises perfect control over the individuals' labor supply and...
Persistent link: https://www.econbiz.de/10013137106
We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature and default may lead to the sale of the firms' assets at fire sale prices when markets are illiquid. This incompleteness is the only friction in the model and the...
Persistent link: https://www.econbiz.de/10013116475
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10013105141
Risk aversion (a 2nd order risk preference) is a time-proven concept in economic models of choice under risk. More recently, the higher order risk preferences of prudence (3rd order) and temperance (4th order) also have been shown to be quite important. While a majority of the population seems...
Persistent link: https://www.econbiz.de/10013088796