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This paper is concerned with the role of committees in collective decision-making processes in a world where agents … must be motivated to collect information. Committees improve the quality of decision-making by providing information and by … affect final decisions? Second, what is the optimal composition of a committee from the decision maker's point of view? As to …
Persistent link: https://www.econbiz.de/10005144571
> This paper is concerned with the role of committees in collective decision-makingprocesses in a world where agents must be … motivated to collect information. Committees improvethe quality of decision-making by providing information and by coordinating … preferences of the committeemembers should be aligned to those of the decision maker. Members with similar preferences asthe …
Persistent link: https://www.econbiz.de/10011242149
> This paper is concerned with the role of committees in collective decision-makingprocesses in a world where agents must be … motivated to collect information. Committees improvethe quality of decision-making by providing information and by coordinating … preferences of the committeemembers should be aligned to those of the decision maker. Members with similar preferences asthe …
Persistent link: https://www.econbiz.de/10011256626
Administration in organizations emerged as a specific field of inquiry for social sciences in the middle of the twentieth century. Herbert Simon has defined a program that allows social sciences to move from principles to concepts about action and action taking. Four main perspectives of...
Persistent link: https://www.econbiz.de/10011205321
L'objectif de cet article est de reconsiderer la theorie des irréversibilités decisionnelles dans un cadre non …
Persistent link: https://www.econbiz.de/10005630691
We study the questions of optimal portfolios and hedging strategies in a market where the asset log-price Y follows a diffusion model whose coefficients are unobservable and are given in terms of a Markov process X. This leads naturally to a partial information setup, where the strategies are...
Persistent link: https://www.econbiz.de/10012721755
We directly construct (no hidden approximations!) the optimal consumption stream of an agent exposed to an arbitrary, uninsurable idiosyncratic risk process in the context of an incomplete market that is a generalization of the classic Constantinides and Duffie (1996). We exploit our...
Persistent link: https://www.econbiz.de/10012731530
Schmeidler (J. of Math. Econ., 18, pp. 141-153, 1989) for decision making under ambiguity. These rules are the first, for any …
Persistent link: https://www.econbiz.de/10012733752
perceptions of risk. We include gender-based tests of Kahneman and Tversky's prospect theory, but offer instead the …
Persistent link: https://www.econbiz.de/10012735035
In this paper we analyze the long-run dynamics of the market selection process among simple trading strategies in an incomplete asset market with endogenous prices. We identify a unique surviving financial trading strategy. Investors following this strategy asymptotically gather total market...
Persistent link: https://www.econbiz.de/10012735669