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Good Rankings are Bad : Why Reliable Rankings Can Hurt Consumers
Bouton, Laurent - 2015
Rankings have become increasingly popular on various markets, e.g. the market for study programs. We analyze their welfare implications. Consumers have to choose between two goods of unknown quality with exogenous presence or absence of an unbiased informative ranking. The existence of the...
Persistent link: https://www.econbiz.de/10013024517
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A Sharper Ratio : A General Measure for Correctly Ranking Non-Normal Investment Risks
Smetters, Kent A. - 2013
While the Sharpe ratio is still the dominant measure for ranking risky assets, a substantial effort has been made over the past three decades to find a way to account for non-Normally distributed risks. This paper derives a generalized ranking measure which, under a regularity condition,...
Persistent link: https://www.econbiz.de/10013074912
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Modeling Area-Level Health Rankings
Courtemanche, Charles - 2013
We propose a Bayesian factor analysis model to rank the health of localities. Mortality and morbidity variables empirically contribute to the resulting rank, and population and spatial correlation are incorporated into a measure of uncertainty. We use county-level data from Texas and Wisconsin...
Persistent link: https://www.econbiz.de/10013075862
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Representing Symmetric Rank Two Updates
Gay, David M. - 2022
Various quasi-Newton methods periodically add a symmetric "correction" matrix of rank at most 2 to a matrix approximating some quantity A of interest (such as the Hessian of an objective function). In this paper we examine several ways to express a symmetric rank 2 matrix [delta] as the sum of...
Persistent link: https://www.econbiz.de/10013322335
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Ranking, Unemployment Duration, and Wages
Blanchard, Olivier J.; Diamond, Peter A. - 2021
Firms often receive multiple acceptable applications for vacancies, requiring a choice among candidates. This paper contrasts equilibria when firms select workers at random and when firms select the worker with the shortest spell of unemployment, called ranking. With the filling of vacancies...
Persistent link: https://www.econbiz.de/10013210544
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Dancing with the Stars : Innovation Through Interactions
Akcigit, Ufuk - 2018
An inventor's own knowledge is a key input in the innovation process. This knowledge can be built by interacting with and learning from others. This paper uses a new large-scale panel dataset on European inventors matched to their employers and patents. We document key empirical facts on...
Persistent link: https://www.econbiz.de/10012922975
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Knowledge-Based Hierarchies : Using Organizations to Understand the Economy
Garicano, Luis - 2014
We argue that incorporating the decision of how to organize the acquisition, use, and communication of knowledge into economic models is essential to understand a wide variety of economic phenomena. We survey the literature that has used knowledge-based hierarchies to study issues like the...
Persistent link: https://www.econbiz.de/10013045274
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The Division of Labor in Teams : A Conceptual Framework and Application to Collaborations in Science
Häussler, Carolin - 2016
perspectives: (1) individual level (the degree to which team members specialize vs. work as generalists), (2) activity level (the … degree to which activities are concentrated among few team members vs. distributed among many) and (3) the intersection … explore team-based knowledge production using a newly available type of data – the disclosures of author contributions on …
Persistent link: https://www.econbiz.de/10012992149
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Image Versus Information : Changing Societal Norms and Optimal Privacy
Ali, S. Nageeb - 2016
We analyze the costs and benefits of using social image to foster virtuous behavior. A Principal seeks to motivate reputation-conscious agents to supply a public good. Each agent chooses how much to contribute based on his own mix of public-spiritedness, private signal about the value of the...
Persistent link: https://www.econbiz.de/10012993235
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Procrastination in Teams
Gans, Joshua S. - 2016
Naively present-biased agents are known to be severe procrastinators. In team settings, procrastination can represent a … form of free-riding that, in excess, can jeopardize a team's ability to meet a deadline. Here we show how naivete and … present bias, despite their reputations, can be desirable traits in a teammate, enabling a team to optimize its performance …
Persistent link: https://www.econbiz.de/10013001202