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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
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A Theory of Income Smoothing When Insiders Know More than Outsiders
Acharya, Viral V. - 2011
We consider a setting in which insiders have information about income that outside shareholders do not, but property rights ensure that outside shareholders can enforce a fair payout. To avoid intervention, insiders report income consistent with outsiders' expectations based on publicly...
Persistent link: https://www.econbiz.de/10013117203
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Discretion in Hiring
Hoffman, Mitchell - 2015
to forgo the potentially valuable private information of their managers. We study the introduction of job testing across … 15 firms employing low-skilled service sector workers. When faced with similar applicant pools, we find that managers who … appear to hire against test recommendations end up with worse average hires. This suggests that managers often overrule test …
Persistent link: https://www.econbiz.de/10013011939
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Inducing Leaders to Take Risky Decisions : Dismissal, Tenure, and Term Limits
Aghion, Philippe - 2014
In this paper we analyze the problem of whether and/or when to replace a leader (agent) when no monetary rewards are available, and it is the leader's competence rather than effort that is being evaluated. The only decisions that the leader takes over time are whether to undertake risky but...
Persistent link: https://www.econbiz.de/10013050303
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Emotional Judges and Unlucky Juveniles
Eren, Ozkan - 2016
Employing the universe of juvenile court decisions in a U.S. state between 1996 and 2012, we analyze the effects of emotional shocks associated with unexpected outcomes of football games played by a prominent college team in the state. We investigate the behavior of judges, the conduct of whom...
Persistent link: https://www.econbiz.de/10012983654
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Position Auctions with Consumer Search
Athey, Susan - 2010
This paper examines a model in which advertisers bid for "sponsored-link" positions on a search engine. The value advertisers derive from each position is endogenized as coming from sales to a population of consumers who make rational inferences about firm qualities and search optimally....
Persistent link: https://www.econbiz.de/10013151363
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High-Capacity Donors’ Preferences for Charitable Giving
Alston, Mackenzie - 2018
How can charities solicit high-capacity donors to provide the funds for matching grants and leadership gifts? In conjunction with one of Texas A&M University's fundraising organizations, we conducted a field experiment to study whether high-income donors respond to non-personal solicitations, as...
Persistent link: https://www.econbiz.de/10012907450
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The Endowment Model and Modern Portfolio Theory
Dimmock, Stephen G. - 2019
We develop a dynamic portfolio-choice model with illiquid alternative assets to analyze conditions under which the “Endowment Model,” used by some large institutional investors such as university endowments, does or does not work. The alternative asset has a lock-up, but can be voluntarily...
Persistent link: https://www.econbiz.de/10012892568
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Procuring Knowledge
Maurer, Stephen M.; Scotchmer, Suzanne - 2021
of public and private sponsorship, and explain why this makes sense in some circumstances …
Persistent link: https://www.econbiz.de/10013218398
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Who is (More) Rational?
Choi, Syngjoo - 2011
Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there …
Persistent link: https://www.econbiz.de/10013129217