Showing 1 - 10 of 4,403
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
This paper studies the social value of public information in environments without common knowledge of data-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret private or public signals in the way that they...
Persistent link: https://www.econbiz.de/10009522297
The paper reports laboratory experiments on a day-to-day route choice game with two routes. Subjects had to choose between a main road M and a side road S. The capacity was greater for the main road. 18 subjects participated in each session. In equilibrium the number of subjects is 12 on M and 6...
Persistent link: https://www.econbiz.de/10011506494
behavior of others. This may lead to welfare-reducing 'overreactions' to public signals. We present an experiment based on a …
Persistent link: https://www.econbiz.de/10003937803
For a quarter century, a top priority in transportation economic theory has been to develop models of rush-hour traffic …
Persistent link: https://www.econbiz.de/10011305426
Ride-hailing applications create new challenges for governments providing transit services, but also create new opportunities to raise tax revenue. To shed light on the effect of taxing or subsidizing ride-hailing applications, we extend a pseudo-monocentric city model to include multiple...
Persistent link: https://www.econbiz.de/10014228577
In classical traffic flow theory, there are two velocities associated with a given level of traffic flow. Following …
Persistent link: https://www.econbiz.de/10003806722
Persistent link: https://www.econbiz.de/10003711873
Persistent link: https://www.econbiz.de/10003498806
The theory of road pricing developed for single links suggests time andlocation varying charges equal to the marginal …
Persistent link: https://www.econbiz.de/10011400380