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Endogenous public information and welfare
Vives, Xavier - 2011
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/10009153832
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Adaptive social learning
March, Christoph - 2016
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 experience gained in past rounds to draw inferences from...
Persistent link: https://www.econbiz.de/10011434567
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Rationality, irrationality and economic cognition
Whalley, John (contributor) - 2005
This paper contrasts the modern use of the assumption that rationality guides individual economic behaviour, as … notions of rationality based on the availability of information, ability to reason (cognitive skills), and even morality …. Learning played a major role in individuals achieving what was referred to as complete rationality. I draw on these ideas, and …
Persistent link: https://www.econbiz.de/10002756346
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Financial education or incentivizing learning-by-doing? : evidence from an RCT with undergraduate students
Oberrauch, Luis; Kaiser, Tim - 2024
We study the effects of digital financial education interventions on undergraduate students’ financial knowledge in a … video treatment enhanced financial knowledge scores by more than 0.5 standard deviations. Conversely, the vouchers showed no …
Persistent link: https://www.econbiz.de/10014576837
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A simple model of buyer-seller networks in international trade
Herkenhoff, Philipp; Krautheim, Sebastian; Sauré, Philip - 2021
The recent literature on firm-to-firm trade has documented salient empirical regularities of the buyer-seller network …
Persistent link: https://www.econbiz.de/10012534686
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The Herodotus Paradox
Baye, Michael R.; Kovenock, Daniel J.; Vries, Casper G. de - 2010
. Yet, to our knowledge, the literature lacks a formal equilibrium analysis of this auction. We provide such an analysis for …
Persistent link: https://www.econbiz.de/10003994504
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Distribution and use of knowledge under the laws of the web
Falkinger, Josef (contributor) - 2007
Persistent link: https://www.econbiz.de/10003624471
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Foreign direct investment in producer services : theory and empirical evidence
Raff, Horst; Von der Ruhr, Marc - 2001
This paper examines the pattern of foreign direct investment (FDI) in producer services. We develop a model of FDI in these services and test its predictions using panel data on U.S.FDI in 25 host countries from 1976 to 1995. We find evidence that, in addition to governmental and cultural...
Persistent link: https://www.econbiz.de/10011400886
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Attention economies
Falkinger, Josef - 2003
competing companies (senders) with their radiation technologies. The endogenous variables explained by the theory are …
Persistent link: https://www.econbiz.de/10011511091
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Robust information aggregation through voting
Midjord, Rune; Rodríguez Barraquer, Tomás; Valasek, Justin - 2019
Numerous theoretical studies have shown that information aggregation through voting is fragile. We consider a model of information aggregation with vote-contingent payoffs and generically characterize voting behavior in large committees. We use this characterization to identify the set of...
Persistent link: https://www.econbiz.de/10012029166