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On the relevance of irrelevant information
Parakhonyak, Alexei - 2009
This paper analyses the role of information in the search process. Ibuild a simple model of a good with two random …
Persistent link: https://www.econbiz.de/10011379165
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A theory of continuous uncertainty types
Czerny, Achim Ingo; Verhoef, Erik T.; Zhang, Anming - 2015
This paper distinguishes uncertainty types that differ continuously with respect to the degree to which uncertainty affects the optimal price/price markup or optimal quantity. A monopoly example is used to show that seemingly strong assumptions on functional forms can represent a wide variety of...
Persistent link: https://www.econbiz.de/10010532588
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Risk aversion and the subjective time discount rate : a joint approach
Praag, Bernard M. S. van; Booij, Adam S. - 2003
In this paper we analyze a large sample of individual responses to six lottery questions. Wederive a simultaneous estimate of risk aversion ? and the time preference discount rate ? perindividual. This can be done because the consumption of a large prize is smoothed over a largertime period. It...
Persistent link: https://www.econbiz.de/10011333268
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Input versus output taxation in an experimental international economy
Riedl, Arno; Winden, Frans A. A. M. van - 2003
This paper is concerned with a policy oriented macroeconomic experiment involving an 'international' economy with a relatively small 'home' country and a large 'foreign' country. It compares the economic performance of two alternative tax systems as a means to finance unemployment benefits: a...
Persistent link: https://www.econbiz.de/10011333884
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Information overload in multi-stage selection procedures
Ficco, Stefano; Karamychev, Vladimir A. - 2004
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that … imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information …
Persistent link: https://www.econbiz.de/10011335195
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The impact of uncertainty on investment : a meta-analysis
Koetse, Mark J.; Groot, Henri L. F. de; Florax, Raymond … - 2006
In this paper we perform a meta-analysis on empirical estimates of the impact between investment and uncertainty. Since the outcomes of primary studies are largely incomparable with respect to the magnitude of the effect, our analysis focuses on the direction and statistical significance of the...
Persistent link: https://www.econbiz.de/10011349194
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The impact of lobbying on the allocation of political authority
Falconieri, Sonia - 2001
This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a legislature ascomposed of two bodies: the floor and an informational committee. Thefloor has the (formal) power to choose the policy to be implemented.The policy outcome is ex...
Persistent link: https://www.econbiz.de/10011317444
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Sequential advocacy
Beniers, Klaas J.; Dur, Robert A. J.; Swank, Otto H. - 2003
The collection of information necessary fordecision-making is often delegated to agents (e.g. bureaucrats … one cause yields full information collection atminimum costs. This provides a rationale for advocacy in politicaland … judicial systems. In this paper, we provide a rationale forthe sequential nature of information collection in advocacysystems …
Persistent link: https://www.econbiz.de/10011326399
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Competition in the presence of individual demand uncertainty
Möller, Marc; Watanabe, Makoto - 2013
This paper sheds light on a recent empirical controversy about the effect of competition on price discrimination in airline markets (Borenstein and Rose (1994), Gerardi and Shapiro, (2009)). We introduce individual demand uncertainty into Hotelling’s model of horizontal product differentiation...
Persistent link: https://www.econbiz.de/10010226097
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Communication versus (restricted) delegation : an experimental comparison
Dominguez-Martinez, Silvia; Sloof, Randolph - 2016
a loss of information, as the worker communicates his information strategically. Delegating authority leads to a loss of …
Persistent link: https://www.econbiz.de/10011520494