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Salant, Yuval; Spenkuch, Jörg L. - National Bureau of Economic Research - 2022

We develop a model of satisficing with evaluation errors that incorporates complexity at the level of individual alternatives. We test the model predictions in a novel data set with information on hundreds of millions of chess moves by experienced players. Consistent with the theory, complex...

Persistent link: https://www.econbiz.de/10013191096

Decision-Making in Complex Households

Rangel, Marcos - 2019

Extremely rich data on farm households in Burkina Faso are used to test whether resource are allocated Pareto efficiently. The complexity of household structures, including multi-generation and polygynous households, is taken into account to developing tests from theoretical models of behavior....

Persistent link: https://www.econbiz.de/10012480455

Comparative Advantage, Complexity and Volatility

Krishna, Pravin - 2009

Less developed countries tend to experience higher output volatility, a fact that is, in part, explained by their specialization in more volatile sectors. This paper proposes theoretical explanations for this pattern of specialization -- with the complexity of the goods playing a central role....

Persistent link: https://www.econbiz.de/10012463684

Complex Disclosure

Jin, Ginger Zhe - 2018

Disclosure policies have the potential to help consumers and make markets more efficient. Yet, the effectiveness of disclosure policies can be undermined if firms strategically make unfavorable information unnecessarily complicated to understand. To explore the incentives for using complexity in...

Persistent link: https://www.econbiz.de/10012453045

The Virtue of Complexity in Return Prediction

Kelly, Bryan T.; Malamud, Semyon; Zhou, Kangying - National Bureau of Economic Research - 2022

The extant literature predicts market returns with "simple" models that use only a few parameters. Contrary to conventional wisdom, we theoretically prove that simple models severely understate return predictability compared to "complex" models in which the number of parameters exceeds the...

Persistent link: https://www.econbiz.de/10013334435

Innovative Originality, Profitability, and Stock Returns

Hirshleifer, David - 2017

We propose that innovative originality (InnOrig) is a valuable organizational resource, and that owing to limited investor attention and skepticism of complexity, firms with greater InnOrig are undervalued. We find that firms' InnOrig strongly predicts higher, more persistent, and less volatile...

Persistent link: https://www.econbiz.de/10012455249

A Theory of Stock Exchange Competition and Innovation : Will the Market Fix the Market?

Budish, Eric - 2019

This paper builds a model of stock exchange competition tailored to the institutional and regulatory details of the …-frequency trading. The robust conclusion is that private innovation incentives are much smaller than the social incentives, especially …

Persistent link: https://www.econbiz.de/10012479804

Creativity Under Fire : The Effects of Competition on Creative Production

Gross, Daniel P. - 2018

Though fundamental to innovation and essential to many industries and occupations, individual creativity has received … effects of competition on individuals' creative production. Using a sample of commercial logo design competitions, and a novel …, content-based measure of originality, I find that intensifying competition induces agents to produce original, untested ideas …

Persistent link: https://www.econbiz.de/10012480710

Kill Zone

Kamepalli, Sai Krishna - 2020

We study why high-priced acquisitions of entrants by an incumbent do not necessarily stimulate more innovation and …

Persistent link: https://www.econbiz.de/10012481729

Internet Access and U.S. - China Innovation Competition

Hoberg, Gerard - 2020

innovation competition using the geography of Chinese internet penetration and Chinese import data. Increases in the ability of … from China impact U.S. innovation through the markets for innovation and existing products. We identify shocks to … rate, consistent with increased intellectual property competition …

Persistent link: https://www.econbiz.de/10012482450

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