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An offer you can't refuse? : incentives change what we believe
Ambuehl, Sandro - 2017
Much of economics assumes that higher incentives increase participation in a transaction only because they exceed more people's reservation price. This paper shows theoretically and experimentally that when information about the consequences is costly, higher incentives also change reservation...
Persistent link: https://www.econbiz.de/10011588031
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Designing information provision experiments
Haaland, Ingar; Roth, Christopher; Wohlfart, Johannes - 2020
challenges and design recommendations that may be of help for practitioners planning to conduct an information experiment. We …
Persistent link: https://www.econbiz.de/10012240454
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Audi alteram partem : an experiment on selective exposure to information
Montanari, Giovanni; Nunnari, Salvatore - 2023
We report the results of an experiment on selective exposure to information. A decision maker interested in learning …. In line with the theory, subjects are more likely to seek confirmatory information when sources are symmetrically … source even when prior beliefs are strongly unbalanced and this source is less informative. Our experiment suggests that base …
Persistent link: https://www.econbiz.de/10014383694
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The devil you know : rational inattention to discrete choices when prior information matters
Pellegrino, Bruno - 2023
In the seminal rational inattention model of Matĕjka and McKay (2015), logit demand arises from the discrete choice of agents who are uncertain about choice payoffs and have access to a flexible, costly information acquisition technology (RI-logit). A notable limitation of this powerful...
Persistent link: https://www.econbiz.de/10014247316
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Dynamic trading and asset prices : Keynes vs. Hayek
Cespa, Giovanni; Vives, Xavier - 2009
We investigate the dynamics of prices, information and expectations in a competitive, noisy, dynamic asset pricing equilibrium model. We show that prices are farther away from (closer to) fundamentals compared with average expectations if and only if traders over- (under-) rely on public...
Persistent link: https://www.econbiz.de/10003897551
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A strategic R&D investment with flexible development time in real option game analysis
Villani, Giovanni - 2009
The real option theory provides a useful tool to evaluate an R&D investment under uncertainty because, unlike the NPV …. -- American Exchange options ; game theory ; Montecarlo simulation ; R&D ; information revelation …
Persistent link: https://www.econbiz.de/10003872189
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Public and private learning from prices, strategic substitutability and complementarity, and equilibrium multiplicity
Manzano Tovar, Carolina; Vives, Xavier - 2010
We study a general static noisy rational expectations model, where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of...
Persistent link: https://www.econbiz.de/10003994517
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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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Agency and communication in IMF conditional lending : theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - 2009
the countries’ authorities, openness, and transparency, consistently with the theory. -- IMF conditionality ; delegation …
Persistent link: https://www.econbiz.de/10003813630
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Information markets, elections and contracts
Gersbach, Hans; Müller, Markus - 2011
Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...
Persistent link: https://www.econbiz.de/10009009663