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surviving the contest for attention. Application of the equilibrium analysis to changes in information technologies and …
Persistent link: https://www.econbiz.de/10011511091
Economists usually think that rational voters have little incentives to acquire costly information. We present a … information if media technology is available because then they do not condition their informational decisions on being pivotal …-ride. Further, we show how the quality of information depends on the size of the electorate, the prior knowledge of voters and on …
Persistent link: https://www.econbiz.de/10009691620
This paper investigates the strategies of a data broker in selling information to one or to two competing firms that … can price-discriminate consumers. The data broker can strategically choose any segment of the consumer demand (information … broker are maximized when (1) information identifies the consumers with the highest willingness to pay; (2) consumers with a …
Persistent link: https://www.econbiz.de/10011859600
estimating risk exposure from cross-section data containing information on the means of financing health payments. We estimate …
Persistent link: https://www.econbiz.de/10009731214
This paper estimates a bivariate HEAVY system including daily and intra-daily volatility equations and its macro-augmented asymmetric power extension. It focuses on economic factors that exacerbate stock market volatility and represent major threats to financial stability. In particular, it...
Persistent link: https://www.econbiz.de/10012158736
This paper analyzes optimal linear taxes on labor income and savings in a standard two-period life-cycle model with endogenous leisure demands in both periods and non-insurable income risks. Households are subject to skill shocks in both periods of the life-cycle. We allow for completely general...
Persistent link: https://www.econbiz.de/10003887539
externalities and so, the option exercise by the Leader generates an Information Revelationʺ that benefits the Follower. Moreover …. -- American Exchange options ; game theory ; Montecarlo simulation ; R&D ; information revelation …
Persistent link: https://www.econbiz.de/10003872189
In this paper, we consider how the retirement age as well as a tax financed pension system ought to respond to a change in the standard deviation of the length of life. In a first best framework, where a benevolent government exercises perfect control over the individuals' labor supply and...
Persistent link: https://www.econbiz.de/10008697501
To analyze the optimal social insurance package, we set up a two-period life-cycle model with risky human capital investment in which the government has access to labor taxation, education subsidies and capital taxation. Social insurance is provided by redistributive labor taxation. Moreover,...
Persistent link: https://www.econbiz.de/10008797758
We study a competitive model in which market incompleteness implies that debt-financed firms may default in some states of nature and default may lead to the sale of the firms' assets at fire sale prices when markets are illiquid. This incompleteness is the only friction in the model and the...
Persistent link: https://www.econbiz.de/10003923631