Showing 1 - 10 of 267
Persistent link: https://www.econbiz.de/10012433571
study re-examines the questions of implementation theory in a setting where players’ choice behavior need not be rational …
Persistent link: https://www.econbiz.de/10012503094
psychological perspective, a major precondition for the implementation of reforms is the loss of the status quo as an available …
Persistent link: https://www.econbiz.de/10013428315
Behavioral implementation studies implementation when agents' choices need not be rational. All existing papers of this … necessary for implementation under rational behavior, with non-rational behavior it is neither. In this paper we investigate … behavioral implementation under complete information without assuming Unanimity. Moreover, we give a full characterization of …
Persistent link: https://www.econbiz.de/10014465032
We study the implications of biased consumer beliefs for search market outcomes in the seminal framework due to Diamond (1971). Biased consumers base their search strategy on a belief function which specifies for any (true) distribution of utility offers in the market a possibly incorrect...
Persistent link: https://www.econbiz.de/10014476790
We study the impact of market incompleteness and bounded rationality on the effectiveness of make-up strategies. To do so, we simulate a heterogeneous-agent New Keynesian (HANK) model with reflective expectations and an occasionally-binding effective lower bound (ELB) on the policy rate. Our...
Persistent link: https://www.econbiz.de/10013493615
We study the welfare performance of various simple monetary policy rules under bounded rationality (BR) along the lines of Gabaix (2020) in a New Keynesian model with sticky wages and an effective lower bound (ELB) on interest rates. Policy strategies with a strong history dependence lose their...
Persistent link: https://www.econbiz.de/10014320809
Persistent link: https://www.econbiz.de/10003527734
Persistent link: https://www.econbiz.de/10003529951
Persistent link: https://www.econbiz.de/10003529782