Showing 1 - 10 of 210
We examine innovative contexts like scientific research or technical R&D where agents must search across many potential projects of varying and uncertain returns. Is it better to possess incomplete but accurate data on the value of some projects, or might there be cases where it is better to...
Persistent link: https://www.econbiz.de/10014544680
Do large firms produce more valuable inventions, and if so, why? After confirming that large firms indeed produce more valuable inventions, we consider two possible sources: a superior ability to invent, or a superior ability to extract value from their inventions. We develop a simple model that...
Persistent link: https://www.econbiz.de/10013362008
, allowing for general news structures. The optimal policy features complete learning asymptotically, exhibits lots of …
Persistent link: https://www.econbiz.de/10014544703
Many, if not most, personalistic dictatorships end up with a disastrous decision such as Hitler's attack on the Soviet Union, Hirohito's government launching a war against the United States, or Putin's invasion of Ukraine in February 2022. Even if the decision is not ultimately fatal for the...
Persistent link: https://www.econbiz.de/10014250204
Financial ties between drug companies and medical researchers are thought to bias studies published in medical journals. To enable readers to account for such bias, most medical journals require authors to disclose potential conflicts of interest. We examine whether disclosure reduces article...
Persistent link: https://www.econbiz.de/10014226124
This paper examines the impact of Generative AI (GAI) on communication through the lens of salience and signalling models. It explores how GAI affects both senders' ability to create salient messages and receivers' costs of absorbing them. The analysis reveals that while GAI can increase...
Persistent link: https://www.econbiz.de/10014635653
We study a sequential experimentation model with endogenous feedback. Agents choose between a safe and risky action, the latter generating stochastic rewards. When making this choice, each agent is selfishly motivated (myopic). However, agents can disclose their experiences to a public record,...
Persistent link: https://www.econbiz.de/10014544761
maker has learned? The key constraint we impose, which is shared across models of Bayesian learning, is that any learning … Dean 2015) and the NIAS condition (Caplin and Martin 2015) to allow for arbitrary learning. We apply our framework to show … how identification of what was learned can be strengthened with additional assumptions on the form of Bayesian learning …
Persistent link: https://www.econbiz.de/10013537767
We provide semiparametric identification results for a broad class of learning models in which continuous outcomes …
Persistent link: https://www.econbiz.de/10014486255
learning and policy recommendation in advisory committees. We quantify the effectiveness of advisory panels, and evaluate …
Persistent link: https://www.econbiz.de/10015056111