Showing 1 - 10 of 1,984
We report two information cascade game experiments that directly test the impact of altruism on observational learning … opportunities to learn about the strategies played by observed which amplifies the impact of altruism on observational learning …
Persistent link: https://www.econbiz.de/10012995188
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …
Persistent link: https://www.econbiz.de/10012996206
This paper characterizes the optimal information structure in competitive insurance markets with adverse selection. A regulator assigns ratings to individuals according to their risk characteristics, insurers offer fixed insurance contracts to each rating group, and the market clears as in...
Persistent link: https://www.econbiz.de/10012924981
A finite number of sellers (n) compete in schedules to supply an elastic demand. The costs of the sellers have uncertain common and private value components and there is no exogenous noise in the system. A Bayesian supply function equilibrium is characterized; the equilibrium is privately...
Persistent link: https://www.econbiz.de/10013316291
A Bayesian supply function equilibrium is characterized in a market where firms have private information about their uncertain costs. It is found that with supply function competition, and in contrast to Bayesian Cournot competition, competitiveness is affected by the parameters of the...
Persistent link: https://www.econbiz.de/10013316471
This paper explores the role of information transmission and misaligned interests across levels of government in explaining variation in the degree of decentralization across countries. Within a two-sided incomplete information principal-agent framework, it analyzes two alternative...
Persistent link: https://www.econbiz.de/10013075612
Private provision of public goods often takes place as a war of attrition: individuals wait until someone else volunteers and provides the good. After a certain time period, however, one individual may be randomly selected. If the individuals are uncertain about their cost of provision, but can...
Persistent link: https://www.econbiz.de/10013316020
We study equilibrium reporting behavior in Fischbacher and Föllmi-Heusi (2013)-type cheating games when agents have a fixed cost of lying and image concerns not to be perceived as a liar. We show that equilibria naturally arise in which agents with low costs of lying randomize among a set of...
Persistent link: https://www.econbiz.de/10012902152
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...
Persistent link: https://www.econbiz.de/10013008600
by the strength of a private learning channel from prices, arising from the multidimensional sources of asymmetric … information, in relation to the usual public learning channel. When the private learning channel is strong (weak) in relation to …
Persistent link: https://www.econbiz.de/10013316183