Showing 1 - 10 of 1,156
Many economic and political decisions are the outcome of strategic contests for a given prize. The nature of such contests can be determined by a designer who is driven by political considerations with a specific political culture. The main objective of this study is to analyze the effect of...
Persistent link: https://www.econbiz.de/10008696663
information approach outperforms alternative forecasting methods in terms of forecast accuracy. -- Forecasting ; aggregation … derived by optimally pooling the information contained in national indicator series. Following the ideas of predictive … errors of the area-wide target variable. In an out-of-sample forecast experiment we find that our optimal pooling of …
Persistent link: https://www.econbiz.de/10003749431
A lack of transparency about policy performance can pose a major obstacle to welfare-enhancing policy competition … misperceive the performance of their state's education system. Experimentally providing performance information polarizes citizens …' educational performance. Parliamentarians' support for the transparency policy is opportunistic: Performance information increases …
Persistent link: https://www.econbiz.de/10013555713
An auction is externality-robust if unilateral deviations from equilibrium leave the other bidders' payoffs unaffected. The equilibrium and its outcome will then persist if certain types of externalities arise between bidders. One example are externalities due to spiteful preferences, which have...
Persistent link: https://www.econbiz.de/10010347030
both sophisticated and naive procrastinators to reduce time-inconsistent behavior. A field experiment on exercising …
Persistent link: https://www.econbiz.de/10012797036
Evidence suggests that participants in direct student-proposing deferred-acceptance mechanisms (DA) play dominated strategies. To explain the data, we introduce expectation-based loss aversion into a school-choice setting and characterize choice-acclimating personal equilibria in DA. We find...
Persistent link: https://www.econbiz.de/10012698801
For reward-based crowdfunding, we introduce the strategy-proof Generalized Moulin-Shenker mechanism (GMS) and compare its performance to the prevailing All-Or-Nothing mechanism (AON). Theoretically, GMS outperforms AON in equilibrium profit and funding success. We test these predictions...
Persistent link: https://www.econbiz.de/10013445566
Markets are ubiquitous in our daily life and, despite many imperfections, they are a great source of human welfare. Nevertheless, there is a heated recent debate on whether markets erode social responsibility and moral behavior. In fact, competitive pressure on markets may create strong...
Persistent link: https://www.econbiz.de/10011515418
Despite the fact that many aggregates are nonlinear functions and the aggregation weights of many macroeconomic …, time-invariant aggregation weights. In this study a framework for nonlinear contemporaneous aggregation with possibly … theoretical setup and the forecasting results. -- forecasting ; stochastic aggregation ; autoregression ; moving average ; vector …
Persistent link: https://www.econbiz.de/10003966437
information. We explore several new forecasting approaches for the U.S. retail price of gasoline and compare their accuracy with …
Persistent link: https://www.econbiz.de/10011429580