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Attention, coordination and bounded recall
Pavan, Alessandro - 2014
I consider a flexible framework of strategic interactions under incomplete information in which, prior to committing their actions (consumption, production, or investment decisions), agents choose the attention to allocate to an arbitrarily large number of information sources about the primitive...
Persistent link: https://www.econbiz.de/10011335452
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Efficient use of information and social value of information
Angeletos, George-Marios; Pavan, Alessandro - 2006
This paper analyzes equlibrium and welfare for a tractable class of economies (games) with externalities, strategic … efficiency benchmark designed to address whether the equilibrium use of information is optimal from a social perspective; the … few applications, including production externalities, beauty contests, business cycles, and large Cournot and Bertrand …
Persistent link: https://www.econbiz.de/10010282995
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Information acquisition and welfare
Colombo, Luca; Femminis, Gianluca; Pavan, Alessandro - 2012
and a rich set of externalities that are responsible for possible wedges between the equilibrium and the efficient … acquisition of information. First, we relate the (in)efficiency in the acquisition of information to the (in)efficiency in the use … of information and explain why efficiency in the use does not guarantee efficiency in the acquisition. Next, we show how …
Persistent link: https://www.econbiz.de/10010352847
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Differential taxation and occupational choice
Gomes, Renato; Lozachmeur, Jean-Marie; Pavan, Alessandro - 2014
efficiency) fails: social welfare (be it Rawlsian or Weighed Utilitarian) can be increased by assigning some agents to their … least productive sector. By sacrificing production efficiency, the planner incurs second-order losses in total output, but …
Persistent link: https://www.econbiz.de/10011335454
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Socially optimal coordination: Characterization and policy implications
Angeletos, George-Marios; Pavan, Alessandro - 2006
externalities are internalized. …
Persistent link: https://www.econbiz.de/10010282908
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An Evolutionary Approach to Congestion
Sandholm, William H. - 1997
equilibria are socially efficient, and show that in such cases, evolution always increases aggregate efficiency. Applying these …
Persistent link: https://www.econbiz.de/10012236010
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You Owe Me
Malmendier, Ulrike; Schmidt, Klaus - 2017
In business and politics, gifts are often aimed at influencing the recipient at the expense of third parties. In an experimental study, which removes informational and incentive confounds, subjects strongly respond to small gifts even though they understand the gift giver's intention. Our...
Persistent link: https://www.econbiz.de/10011592121
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Cooperation, competition, and welfare in a matching market
Bester, Helmut; Sákovics, József - 2022
pairs play an infinitely repeated Prisoner's Dilemma. Higher matching efficiency is usually considered detrimental as it …
Persistent link: https://www.econbiz.de/10013333575
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Cooperation, Competition, and Welfare in a Matching Market
Bester, Helmut; Sákovics, József - 2022
pairs play an infinitely repeated Prisoner's Dilemma. Higher matching efficiency is usually considered detrimental as it …
Persistent link: https://www.econbiz.de/10014467786
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Cournot Meets Bayes-Nash: A Discontinuity in Behavior in Finitely Repeated Duopoly Games
Argenton, Cédric; Ivanova-Stenzel, Radosveta; Müller, … - 2023
We conduct a series of Cournot duopoly market experiments with a high number of repetitions and fixed matching. Our treatments include markets with (a) complete cost symmetry and complete information, (b) slight cost asymmetry and complete information, and (c) varying cost asymmetries and...
Persistent link: https://www.econbiz.de/10014467868