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Why are Residents Reluctant to Consult Attending Physicians?
Swank, Otto H. - 2009
A physician performs two tasks: making diagnoses and determining treatments. To reduce medical error, residents are supposed to consult their supervisors when they face uncommon circumstances. However, recent research shows that residents are reluctant to do so. This paper presents a model that...
Persistent link: https://www.econbiz.de/10013159812
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Power and the Privilege of Clarity : An Analysis of Bargaining Power and Information Transmission
de Groot Ruiz, Adrian; Offerman, T. J. S.; Onderstal, Sander - 2012
People in inferior bargaining positions are often vaguer when they express their preferences. In this paper, we explain how power shapes clarity of communication. We analyze information transmission in a cheap talk bargaining game between an informed Sender and an uninformed Receiver. Our main...
Persistent link: https://www.econbiz.de/10014184653
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Equilibrium Selection in Cheap Talk Games : ACDC Rocks When Other Criteria Remain Silent
de Groot Ruiz, Adrian; Offerman, T. J. S.; Onderstal, Sander - 2012
In the past, many refinements have been proposed to select equilibria in cheap talk games. Usually, these refinements were motivated by a discussion of how rational agents would reason in some particular cheap talk games. In this paper, we propose a behavioral refinement and stability measure...
Persistent link: https://www.econbiz.de/10014185948
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Disagreement and Flexibility: A Theory of Optimal Security Issuance and Capital Structure
Boot, Arnoud W.A.; Thakor, Anjan V. - 2003
In this paper we introduce flexibility as an economic concept and apply it to the firm’ssecurity issuance decision and capital structure choice. Flexibility is the ability to makedecisions that one thinks are best even when others disagree. The firm’s management valuesflexibility because it...
Persistent link: https://www.econbiz.de/10010324789
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The Economic Value of Flexibility when there is Disagreement
Boot, Arnoud W.A.; Thakor, Anjan V. - 2003
We develop an economic theory of “flexibility”, which we interpret as the discretion orability to make a decision that others disagree with. We show that flexibility is essentiallyan option for the decisionmaker, and can be valued as such. The value of the flexibilityoption is decreasing in...
Persistent link: https://www.econbiz.de/10010324837
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Go Public or Stay Private: A Theory of Entrepreneurial Choice
Boot, Arnoud W.A.; Gopalan, Radhakrishnan; Thakor, Anjan V. - 2003
In this paper we analyze an entrepreneur /manager's choice between private and public ownership in a setting in which management needs some elbow room or autonomy to optimally manage the firm. In public capital markets, the corporate governance regime in place exposes the firm to exogenous...
Persistent link: https://www.econbiz.de/10010324891
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More Hedging Instruments may destablize Markets
Brock, William; Hommes, Cars; Wagener, Florian - 2006
This paper formalizes the idea that more hedging instruments may destabilize markets when traders are heterogeneous and adapt their behavior according to experience based reinforcement learning. We investigate three different economic settings, a simple mean-variance asset pricing model, a...
Persistent link: https://www.econbiz.de/10010325451
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Vanity in Politics: A Problem?
Suurmond, Guido; Swank, Otto H.; Visser, Bauke - 2002
Can vanity do any good? It may seem obvious to answer this question in the negative, as economists have shown how reputational concerns lead agents e.g. to ignore valuable information, to herd, and to become overly risk averse. We explore how proud agents may be a social blessing. An agent may...
Persistent link: https://www.econbiz.de/10010324778
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Capital Gains Taxation and the Cost of Capital: Evidence from Unanticipated Cross-Border Transfers of Tax Bases
Huizinga, Harry; Voget, Johannes; Wagner, Wolf - 2012
In a cross-border takeover, the tax base associated with future capital gains is transferred from target shareholders to acquirer shareholders. Crosscountry differences in capital gains tax rates enable us to estimate the discount in target valuation on account of future capital gains. A one...
Persistent link: https://www.econbiz.de/10010326290
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Signals in Science - On the Importance of Signaling in Gaining Attention in Science
van Dalen, Hendrik P.; Henkens, Kène - 2004
citations. Three types of signals are examined: the author’s reputation (as producer of the idea), the journal (as the broker of … empirical analysis points out that, first, the reputation of journals plays an overriding role in gaining attention in science … third, the reputation of a journal may help to get late recognition (so-called ‘sleeping beauties’) as well as generate so …
Persistent link: https://www.econbiz.de/10010325180