Showing 1 - 10 of 1,797
Persistent link: https://www.econbiz.de/10003532777
Starting from an information process governed by a geometric Brownian motion we show that asset returns are predictable if the elasticity of the pricing kernel is not constant. Declining [Increasing] elasticity of the pricing kernel leads to mean reversion and negatively autocorrelated asset...
Persistent link: https://www.econbiz.de/10013428490
value the collective reputation of their institution, e.g. due to a prosocial signaling motive or identity concerns. The … initial insight of the analysis is that there exists both a highreputation, low-wage equilibrium and a low-reputation, high …-wage equilibrium. Importantly, the comparative statics of motivation and wage differ between the equilibria: starting from low-reputation …
Persistent link: https://www.econbiz.de/10011281179
, when motivated agents value the collective reputation of their place of employment, steady-state equilibria with both high … and low aggregate motivation (reputation) in the mission-oriented sector exist. Reforming a low-motivation institution …, but positive for a low-reputation institution, a transition to a high-reputation steady state requires an initial wage …
Persistent link: https://www.econbiz.de/10011552475
attention to reputation for quality. This provides empirical support to recent models in behavioral industrial organization that …
Persistent link: https://www.econbiz.de/10010498486
Persistent link: https://www.econbiz.de/10003528215
attention to reputation for quality. This provides empirical support to recent models in behavioral IO that assume that … eine Reputation für die Qualität ihrer Produkte erwerben können ('experience goods'). Dabei vergleichen wir den … endogen ergeben, mindert Preiswettbewerb die Effizienz, da die Konsumenten der Reputation der Verkäufer hinsichtlich der …
Persistent link: https://www.econbiz.de/10010188722
Using a laboratory experiment, we present first evidence that social image concerns causally reduce the take-up of an individually beneficial transfer. Our design manipulates the informativeness of the take-up decision by varying whether transfer eligibility is based on ability or luck, and how...
Persistent link: https://www.econbiz.de/10011905224
This paper analyzes optimal product lines when consumers differ both in their taste for quality and in their desire for social image. The market outcome features partial pooling and product differentiation that is not driven by heterogeneous valuations for quality but by image concerns. A...
Persistent link: https://www.econbiz.de/10011899163
We examine the impact of reputational concerns on seeking advice. While seeking can improve performance, it may affect how others perceive the seeker's competence. In an online experiment with white-collar professionals (N=2,521), we test how individuals navigate this tradeoff and if others'...
Persistent link: https://www.econbiz.de/10014495025