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Fergusson, Leopoldo; Guerra, José-Alberto; Robinson, … - National Bureau of Economic Research - 2024

Since formal rules can only partially reduce opportunistic behavior, third-party sanctioning to promote fairness is critical to achieving desirable social outcomes. Social norms may underpin such behavior, but they can also undermine it. We study one such norm the "don't be a toad" norm, as it...

Persistent link: https://www.econbiz.de/10014635680

Cognitive Economics

Kimball, Miles S. - 2015

Cognitive Economics is the economics of what is in people's minds. It is a vibrant area of research (much of it within Behavioral Economics, Labor Economics and the Economics of Education) that brings into play novel types of data--especially novel types of survey data. Such data highlight the...

Persistent link: https://www.econbiz.de/10012457832

Winning Play in Spectrum Auctions

Bulow, Jeremy - 2009

We describe factors that make bidding in large spectrum auctions complex -- including exposure and budget problems, the role of timing within an ascending auction, and the possibilities for price forecasting -- and how economic and game-theoretic analysis can assist bidders in overcoming these...

Persistent link: https://www.econbiz.de/10012463882

On Inferring Demand for Health Care in the Presence of Anchoring, Acquiescence, and Selection Biases

Bhattacharya, Jay - 2008

In the contingent valuation literature, both anchoring and acquiescence biases pose problems when using an iterative bidding game to infer willingness to pay. Anchoring bias occurs when the willingness to pay estimate is sensitive to the initially presented starting value. Acquiescence bias...

Persistent link: https://www.econbiz.de/10012464782

Information Favoritism and Scoring Bias in Contests

Deng, Shanglyu; Fang, Hanming; Fu, Qiang; Wu, Zenan - National Bureau of Economic Research - 2023

Two potentially asymmetric players compete for a prize of common value, which is initially unknown, by exerting efforts. A designer has two instruments for contest design. First, she decides whether and how to disclose an informative signal of the prize value to players. Second, she sets the...

Persistent link: https://www.econbiz.de/10014247957

How Close to an Auction Is the Labor Market? Employee Risk Aversion, Income Uncertainty, and Optimal Labor Contracts

Brown, James N. - 1980

Section I of this paper develops a model of income insurance in the labor market. The model differs from those of previous analyses in its focus on quantitative implications regarding the degree to which wages diverge from marginal value products, both in time-series and in cross-section data....

Persistent link: https://www.econbiz.de/10012478522

Uncertainty, Redistribution, and the Labor Market

Mulligan, Casey B. - 2013

shows that small to medium-sized increases in uncertainty or risk aversion are enough to recommend an expansion of the …

Persistent link: https://www.econbiz.de/10012459108

You Only Die Once : Managing Discrete Interdependent Risks

Heal, Geoffrey - 2003

discrete interdependent risks with heterogeneous agents. There is a threat of an event that can only happen once, and the risk … depends on actions taken by others. Any agent's incentive to invest in managing the risk depends on the actions of others …. Security problems at airlines and in computer networks come into this category, as do problems of risk management in …

Persistent link: https://www.econbiz.de/10012468812

Trading on Sunspots

Jovanovic, Boyan - 2014

In a model with multiple Pareto-ranked equilibria we add trade in assets that pay based on the realization of a sunspot. Asset trading restricts the equilibrium set in a way that raises welfare by eliminating equilibria with a high likelihood of disasters. When the probability of a disaster is...

Persistent link: https://www.econbiz.de/10012457853

Voluntary Public Goods Provision, Coalition Formation, and Uncertainty

Burger, Nicholas E. - 2009

The literature on voluntary provision of public goods includes recent theoretical work on the formation of voluntary coalitions to provide public goods. Theory is ambiguous on the equilibrium coalition size and contribution rates. We examine the emergence of coalitions, their size, and how...

Persistent link: https://www.econbiz.de/10012463106