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We study identification of preferences in static single-agent discrete choice models where decision makers may be imperfectly informed about the state of the world. We leverage the notion of one-player Bayes Correlated Equilibrium by Bergemann and Morris (2016) to provide a tractable...
Persistent link: https://www.econbiz.de/10014309143
This paper develops a semiotic-inferential model of verbal communication for incomplete information games: a language … is seen as a set of conventional signs that point to types, and the credibility of a message depends on the strategic …
Persistent link: https://www.econbiz.de/10011290062
suggests a trade-off of using coarser versus finer representations of the strategy set when it comes to learning. …
Persistent link: https://www.econbiz.de/10012608716
Persistent link: https://www.econbiz.de/10015071932
. In order to communicate they need to have a language in common. Learning languages is costly. In this setting no …
Persistent link: https://www.econbiz.de/10009565542
are also able to learn structural properties of the games. -- Game Theory ; Learning ; Extrapolation …
Persistent link: https://www.econbiz.de/10008747644
The use of coarse categories is prevalent in various situations and has been linked to biased economic outcomes, ranging from discrimination against minorities to empirical anomalies in financial markets. In this paper we study economic rationales for categorizing coarsely. We think of the way...
Persistent link: https://www.econbiz.de/10010353550
We consider a simple dynamic model of environmental taxation that exhibits time inconsistency. There are two categories of firms, Believers, who take the tax announcements made by the Regulator to face value, and Non-Believers, who perfectly anticipate the Regulator's decisions, albeit at a...
Persistent link: https://www.econbiz.de/10011606951
This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …
Persistent link: https://www.econbiz.de/10011717595
) communication on asset prices (stock prices, gilt yields and interest rate futures) from 1999-2023. We extend MPC communication to … communication leads to greater asset price volatility than simple and clear communication. Central banks that want to avoid … monetary policy communication, the previous literature has disregarded an important source of variation in asset prices. …
Persistent link: https://www.econbiz.de/10014314314