Many economic organizations have some relational structure, meaning that economic agents do not only differ with respect to certain individual characteristics such as wealth and preferences, but also belong to some relational structure in which they usually take different positions. Two examples...

Agents participating in different kind of organizations, usually take different positions in some network structure. Two well-known network structures are hierarchies and communication networks. We give an overview of the most common models of communication and hierarchy restrictions in...

In economic environments, decision-makers can strategically delay irreversible investments to learn from the actions of others. This creates free-riding incentives and can lead to socially suboptimal outcomes. We experimentally examine if and how communication mitigates this free-riding problem...

Does the Federal Reserve follow a communication rule? We propose a simple framework to estimate communication rules, which we conceptualize as a systematic mapping between the Fed's expectations of macroeconomic variables and the words they use to talk about the economy. Using text analysis and...

We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the signal that an agent receives, she revises her private information. When signals are ambiguous, we show that agents may agree to disagree forever. Although the learning process...