Narrow search
Showing 1 - 10 of 297
Cover Image
Cognitive Economics
Kimball, Miles S. - 2015
Welfare Economics. A key theme of Cognitive Economics is finite cognition (often misleadingly called “bounded rationality …
Persistent link: https://www.econbiz.de/10013030618
Cover Image
Conflict and Deterrence Under Strategic Risk
Chassang, Sylvain - 2010
We examine the mechanics of deterrence and intervention when fear is a motive for conflict. We contrast results obtained in a complete information setting, where coordination is easy, to those obtained in a setting with strategic risk, where players have different assessments of their...
Persistent link: https://www.econbiz.de/10012759352
Cover Image
Moral Costs and Rational Choice : Theory and Experimental Evidence
Cox, James C. - 2016
The literature exploring other regarding behavior sheds important light on interesting social phenomena, yet less attention has been given to how the received results speak to foundational assumptions within economics. Our study synthesizes the empirical evidence, showing that recent work...
Persistent link: https://www.econbiz.de/10012992647
Cover Image
Neighborhood-Based Information Costs
Hebert, Benjamin; Woodford, Michael - 2022
We derive a new cost of information in rational inattention problems, the neighborhood-based cost functions, starting from the observation that many settings involve exogenous states with a topological structure. These cost functions are uniformly posterior-separable and capture notions of...
Persistent link: https://www.econbiz.de/10013314321
Cover Image
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
Cover Image
Sticking with What (Barely) Worked
Lefgren, Lars - 2011
formalize this cognitive bias in a simple model of distorted Bayesian updating. We then examine strategy changes made by … professional football coaches. We find they are more likely to revise their strategy after a loss than a win -- even for narrow … expected, and the offensive strategy is revised even when failure is attributable to the defense. These results are consistent …
Persistent link: https://www.econbiz.de/10013119785
Cover Image
Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper extends the methodology developed in Chien, Cole and Lustig (2011 & 2012) (hereafter CCL2011 and CCL2012, respectively) to analyze and compute the equilibria of economies with heterogeneous agents who have different asset trading technologies and are subject to both aggregate and...
Persistent link: https://www.econbiz.de/10013050169
Cover Image
Capital Share Risk in U.S. Asset Pricing
Lettau, Martin - 2014
A single macroeconomic factor based on growth in the capital share of aggregate income exhibits significant explanatory power for expected returns across a range of equity characteristic portfolios and non-equity asset classes, with risk price estimates that are of the same sign and similar in...
Persistent link: https://www.econbiz.de/10013040236
Cover Image
Effective Monetary Policy Strategies in New Keynesian Models : A Re-Examination
Chung, Hess T. - 2014
strategy are common across the two models: In particular, highly inertial interest rate rules that respond to nominal income or …
Persistent link: https://www.econbiz.de/10013044989
Cover Image
Understanding Defensive Equity
Novy-Marx, Robert - 2014
the abnormal performance of defensive equity (i.e., low volatility and/or low beta strategies). While defensive strategy …
Persistent link: https://www.econbiz.de/10013045289