Showing 401 - 410 of 5,553
Contrary to the central prediction of signaling models, changes in profits do not empirically follow changes in … that payout policy conveys information about future cash flow volatility. Our methodology can be applied more generally to …
Persistent link: https://www.econbiz.de/10011754236
This article studies whether people want to control which information on their own past pro-social behavior is revealed …
Persistent link: https://www.econbiz.de/10011966892
In the context of common agency adverse-selection games weillustrate that the revelation principle cannot be applied to studyequilibria of the multi-principal games. We then demonstrate thatan extension of the taxation principle what we term the delegation principle can be used to characterize...
Persistent link: https://www.econbiz.de/10011400675
Consider a two-product firm that decides on the quality of each product. Product quality is unknown to consumers. If the firm sells both products under the same brand name, consumers adjust their beliefs about quality subject to the performance of both products. We show that if the probability...
Persistent link: https://www.econbiz.de/10002524228
In games with strategic complementarities, public information about the state of the world has a larger impact on … equilibrium actions than private information of the same precision, because the former is more informative about the likely … reasoning. Stated second order beliefs indicate that subjects underestimate the information contained in public signals about …
Persistent link: https://www.econbiz.de/10003937803
Awards are widespread in all countries and are prevalent both in the public sphere and in the private sector. This paper argues, and empirically supports, that awards serve public functions and economists should take them seriously. Using a unique cross-country data set, we suggest that awards...
Persistent link: https://www.econbiz.de/10008699735
Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer …-induced certification acts as an inspection device, seller-induced certification as a signalling device. Seller-induced certification … to other markets - in particular the financial market. -- asymmetric information ; certification ; information …
Persistent link: https://www.econbiz.de/10009011365
(with no constrain on the consumer side). Proposing menus helps signaling useful information to consumers and therefore … information transmission. In the case of uniform tariff, we argue that a positive price-cap on the charge to content is optimal …
Persistent link: https://www.econbiz.de/10010257230
with experience. We then reject increasing confidence in private information or learning about the structure of the … data. The motivation for signalling is consistent with wanting to control inflation expectations, but not career concerns …-motivated reputation building may be important for explaining dynamics in experts' policy choices. -- signalling ; learning ; monetary …
Persistent link: https://www.econbiz.de/10009518217
This paper develops a theory of consumer boycotts. Some consumers care not only about the products they buy but also about whether the firm behaves ethically. Other consumers do not care about the behavior of the firm but yet may like to give the impression of being ethical consumers....
Persistent link: https://www.econbiz.de/10003720255