Team production is a frequent feature of modern organizations. Combined with team incentives, team production can … create externalities among workers, since their utility upon accepting a contract depends on their team's performance and …

. However, its relationship with how social groups are formed has received little attention. We design an experiment to analyze … more actively in the team-building task. …

The argument that policy risk, i.e., uncertainty about monetary and fiscal policy, has been holding back the economic … recovery in the U.S. during the Great Recession has a large popular appeal. We analyze the role of policy risk in explaining … business cycle fluctuations by using an estimated New Keynesian model featuring policy risk as well as uncertainty about …

Recent interest in "Risk Management"has highlighted the relevance of Bayesian analysis for robust monetary …