Similar Search Results

Leung, Charles Ka Yui; Tse, Chung-Yi - 2017

housing market search model. Flipping tends to take place in sluggish and tight, but not in moderate, markets. To follow is … rapid turnover, a high vacancy rate, and high housing prices. In another equilibrium, few houses are bought and sold by … response to the smallest interest rate shock. The housing market can then be intrinsically unstable even when all flippers are …

Persistent link: https://www.econbiz.de/10011586592

Belief updating in individual and social learning : a field experiment on the internet

Sasaki, Shunichiro (contributor); … - 2007

We conducted a field experiment on the Internet and investigated the participants’ belief updating in an individual learning environment where they observe a sequence of private signals and in a social learning environment where they observe a sequence of other people’s actions. We observed...

Persistent link: https://www.econbiz.de/10003490414

Export, foreign direct investment, and joint ventures : learning the rival's costs through propinquity

Creane, Anthony (contributor); … - 2007

We examine the role of cost uncertainty in a firm’s choice between exporting and foreign investment in oligopolistic industry. We consider both foreign direct investment and an international joint venture, and allow country-specific and firm-specific cost uncertainty. Unlike exporting, either...

Persistent link: https://www.econbiz.de/10003490420

Foreign direct investment and cost uncertainty : correlation and learning effects

Creane, Anthony (contributor); … - 2007

We examine a foreign firm’s choice between exporting and foreign direct investment (FDI) under country-specific cost uncertainty. Unlike exporting, FDI exposes foreign and home firms to common shocks. This results in a correlation of strategies, harming the firms. However, the exposure to...

Persistent link: https://www.econbiz.de/10003490429

The profitable supression of inventions : technology choice and entry deterrence

Creane, Anthony (contributor); … - 2007

AT&T was known for both funding a world-class research lab and delaying deployment of useful innovations from the lab. To explain this behavior we consider a model with an incumbent facing a potential entrant. The incumbent can choose from two technologies for production: old and new. The...

Persistent link: https://www.econbiz.de/10003588141

Historical education levels and present-day non-cognitive skills

Yamamura, Eiji - 2015

This study examined the extent to which education levels in the 19th century have shaped current norms, which influence individuals' present-day non-cognitive skills and perceptions of life. Cross-country, individual-level data were compared with each country's average years of schooling in...

Persistent link: https://www.econbiz.de/10011400703

Hierarchical experimentation

Chen, Chia-hui; Ishida, Junichiro - 2015

We consider a bandit problem faced by a team of two heterogeneous players. The team is hierarchical in that one (the principal) retains the exclusive right to terminate the project while the other (the agent) focuses strictly on implementing the project assigned to him. As a key departure, we...

Persistent link: https://www.econbiz.de/10011343543

A theory of multidimensional information disclosure

Tamura, Wataru - 2012

We study disclosure of information about the multidimensional state of the world when uninformed receivers' actions affect the sender's utility. Given a disclosure rule, the receivers form an expectation about the state following each message. Under the assumption that the sender's expected...

Persistent link: https://www.econbiz.de/10009419552

Endogenous information acquisition and partial announcement policy

Arato, Hiroki; Hori, Takeo; Nakamura, Tomoya - 2014

We extend the model of Cornand and Heinemann (2008, Economic Journal) and examine how to implement partial announcement by selling public information when the agents' action is strategic complements. In a game of information acquisition, there exist multiple equilibria and the partial...

Persistent link: https://www.econbiz.de/10010228760

Careerist experts and political incorrectness

Chen, Chia-hui; Ishida, Junichiro - 2014

While political correctness is a dominant norm in many public situations, we also observe behaviors that are apparently "politically incorrect", often from professionals and experts. This paper examines the flip side of political correctness as analyzed in Morris (2001) to shed some light on the...

Persistent link: https://www.econbiz.de/10010251693