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Modeling Unawareness in Arbitrary State Spaces

Li, Jing - Department of Economics, University of Pennsylvania - 2008

I develop a set-theoretic model of unawareness without making any structural assumptions on the underlying state space. Unawareness is characterized as a measurability constraint that results in players' reasoning about a “coarse" subjective algebra of events. The model is shown to be...

Persistent link: https://www.econbiz.de/10005102103

Information Structures with Unawareness

Li, Jing - Department of Economics, University of Pennsylvania - 2008

problem. Information is modeled as a pair, consisting of both factual information and awareness information. The model … preserves the central properties of the standard information partition model. …

Persistent link: https://www.econbiz.de/10005102108

Social Networks, HIV/AIDS and Risk Perceptions

Behrman, Jere; Kohler, Hans-Peter; Watkins, Susan C. - Department of Economics, University of Pennsylvania - 2003

Understanding the determinants of individuals’ perceptions of their risk of becoming infected with HIV and their perceptions of acceptable strategies of prevention is an essential step towards curtailing the spread of this disease. We focus in this paper on learning and decision-making about...

Persistent link: https://www.econbiz.de/10005109617

Informational Content of Special Regressors in Heteroskedastic Binary Response Models

Chen, Songnian; Khan, Shakeeb; Tang, Xun - Department of Economics, University of Pennsylvania - 2013

help point identify coefficients in latent payoffs as in (Manski 1988); and the Fisher information of coefficients as in … (Lewbel 2000)) does not add to the identifying power or the information for coefficients. Nonetheless it does help identify … regressor improves the identifying power by the criterion in (Manski 1988), and the Fisher information for coefficients is …

Persistent link: https://www.econbiz.de/10010822913

Foreign Direct Investment and Exports with Growing Demand

Rob, Rafael; Vettas, Nikolaos - Department of Economics, University of Pennsylvania - 2003

We explore entry into a foreign market with uncertain demand growth. A multinational can serve the foreign demand by two modes, or by a combination thereof: it can export its products, or it can create productive capacity via Foreign Direct Investment. The advantage of FDI is that it allows for...

Persistent link: https://www.econbiz.de/10005150188

What One Can Learn From the Initial Public Offering of Google? A Twenty-Year Excursion to the Venture Capital Industry

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2004

Over the past two decades the venture capital industry became a major focus for the financial media. With potential for high rates of return, this industry attracts entrepreneurs looking for opportunities to invest. While some investments are successful and highly publicized, many are not. This...

Persistent link: https://www.econbiz.de/10005150198

The Role of Information in Competitive Experimentation

Akcigit, Ufuk; Liu, Qingmin - Department of Economics, University of Pennsylvania - 2011

their actions and share their private information in a timely manner. This mechanism restores efficiency and suggests a …

Persistent link: https://www.econbiz.de/10009366835

U.S. Venture Capital Meets Clean-Technology

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2009

Public concern over global climate change, resource depletion, and environmental degradation has amplified over the last several years, leading to increased demand for environmentally friendly products. Additionally, the price of Clean-Technology products has fallen. This paper examines venture...

Persistent link: https://www.econbiz.de/10008502074

Venture Capital Meets Industrial Sector and Location

Shachmurove, Emanuel; Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2009

This paper examines venture capital investment activity in the United States during the period 1995 to the first quarter 2009, taking into consideration both location and industry sector. The research question is whether industry and region are important factors in determining venture capital...

Persistent link: https://www.econbiz.de/10008502076

The Reality of IPO Performance: An Empirical Study of Venture-Backed Public Companies

Shachmurove, Yochanan - Department of Economics, University of Pennsylvania - 2004

The incredible profits of Initial Public Offerings have often been emphasized in the media as a popular investment for the public. This paper takes a few steps towards refuting such an assertion by investigating the performance of 2,895 venture capital backed IPOs between 1968 and September...

Persistent link: https://www.econbiz.de/10005126694