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Kosher Pork
Drazen, Allan - 2011
Both conventional wisdom and leading academic research view pork barrel spending as antithetical to responsible policymaking in times of crisis. In this paper we present an alternative view. When agents are heterogeneous in their ideology and in their information about the economic situation,...
Persistent link: https://www.econbiz.de/10013131672
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Socially Optimal Coordination : Characterization and Policy Implications
Angeletos, George-Marios - 2007
In recent years there has been a growing interest in macro models with heterogeneity in information and complementarity in actions. These models deliver promising positive properties, such as heightened inertia and volatility. But they also raise important normative questions, such as whether...
Persistent link: https://www.econbiz.de/10012778095
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Dumping and Double Crossing : the (In)Effectiveness of Cost-Based Trade Policy Under Incomplete Information
Kolev, Dorbin R.; Prusa, Thomas J. - 2021
We argue that the rise of antidumping protection and the proliferation of voluntary export restraints are fundamentally inter-related. We show that both can be explained by a cost-based definition of dumping when the domestic government has incomplete information about the foreign firm's costs....
Persistent link: https://www.econbiz.de/10013217200
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Estimating Static Models of Strategic Interaction
Bajari, Patrick; Hong, Han; Krainer, John; Nekipelov, Denis - 2021
We propose a method for estimating static games of incomplete information. A static game is a generalization of a discrete choice model, such as a multinomial logit or probit, which allows the actions of a group of agents to be interdependent. Unlike most earlier work, the method we propose is...
Persistent link: https://www.econbiz.de/10013230815
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Learning and Disagreement in an Uncertain World
Acemoglu, Daron - 2010
Most economic analyses presume that there are limited differences in the prior beliefs of individuals, as assumption most often justified by the argument that sufficient common experiences and observations will eliminate disagreements. We investigate this claim using a simple model of Bayesian...
Persistent link: https://www.econbiz.de/10012760581
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Voluntary Public Goods Provision, Coalition Formation, and Uncertainty
Burger, Nick - 2009
coalitions to provide public goods. Theory is ambiguous on the equilibrium coalition size and contribution rates. We examine the …
Persistent link: https://www.econbiz.de/10013153581
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Collective Choice in Dynamic Public Good Provision
Bowen, T. Renee - 2016
Two heterogeneous agents contribute over time to a joint project, and collectively decide its scope. A larger scope requires greater cumulative effort and delivers higher benefits upon completion. We show that the efficient agent prefers a smaller scope, and preferences are time-inconsistent: as...
Persistent link: https://www.econbiz.de/10012980151
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To Give or Not to Give : The Price of Contributing and the Provision of Public Goods
Diederich, Johannes - 2013
We examine the relationship between the price of giving and the decision to contribute in a framed field experiment (n = 2,440). In a departure from previous research using match rates and rebates, we vary the price of contributing to the public good directly. Treatment groups differ between...
Persistent link: https://www.econbiz.de/10013077652
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Valuing Identity
Fryer, Roland G. - 2010
Affirmative action policies are practiced around the world. This paper explores the welfare economics of such policies. A model is proposed where heterogeneous agents, distinguished by skill level and social identity, compete for positions in a hierarchy. The problem of designing an efficient...
Persistent link: https://www.econbiz.de/10013135413
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A Testable Theory of Imperfect Perception
Caplin, Andrew - 2011
We introduce a rational choice theory that allows for many forms of imperfect perception, including failures of memory …, selective attention, and adherence to simplifying rules of thumb. Despite its generality, the theory has strong, simple, and … (stochastic) consequences of their available choices. Our theory separately identifies two distinct "framing" effects: standard …
Persistent link: https://www.econbiz.de/10013123311