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The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10011256565
This paper studies the internal organizational design of politicalinstitutions in presence of lobbying. We consider a legislature ascomposed of two bodies: the floor and an informational committee. Thefloor has the (formal) power to choose the policy to be implemented.The policy outcome is ex...
Persistent link: https://www.econbiz.de/10011257116
This paper studies the internal organizational design of political institutions in presence of lobbying. We consider a legislature as composed of two bodies: the floor and an informational committee. The floor has the (formal) power to choose the policy to be implemented. The policy outcome is...
Persistent link: https://www.econbiz.de/10005137098
The paper studies information processing imperfections in a fully rational decision-making network. It is shown that imperfect information transmission and imperfect information acquisition in a multi-stage selection game yield information overload. The paper analyses the mechanisms responsible...
Persistent link: https://www.econbiz.de/10005137327
This discussion paper resulted in a publication in the <I>Journal of Corporate Finance</I> (2011). Vol. 17, issue 5.<P> This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however,...</p></i>
Persistent link: https://www.econbiz.de/10011257055
This paper analyzes the impact of blockownership dispersion on firm value. Blockholdings by multiple blockholders is a widespread phenomenon in the U.S. market. It is not clear, however, whether dispersion among blockholder is preferable to having a more concentrated ownership structure. To test...
Persistent link: https://www.econbiz.de/10008513240
This discussion paper led to a publication in 'Social Choice and Welfare', 2005, 24, 439-454.<P> Many economic and social situations can be represented by a digraph. Both axiomatic and iterativemethods to determine the strength or power of all the nodes in a digraph have been proposed inthe...</p>
Persistent link: https://www.econbiz.de/10011256523
While most papers_new on team decision-making find teams to behave more selfish, less trusting and less altruistic than individuals, Cason and Mui (1997) report that teams are more altruistic than individuals in a dictator game. Using a within-subjects design we re-examine group polarization by...
Persistent link: https://www.econbiz.de/10011256730
We study a politician's choice for state or private control of banks. The choice trades of lobbying contributions against social welfare, weighted by political accountability.Politicians facing few constraints prefer state control to maximize their rents. As state banks are less efficient, at...
Persistent link: https://www.econbiz.de/10011256743
This discussion paper led to the publication with the same title in 'International Game Theory Review' (2012), 14(2).<P …
Persistent link: https://www.econbiz.de/10011257068