We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the signal that an agent receives, she revises her private information. When signals are ambiguous, we show that agents may agree to disagree forever. Although the learning process...

We suggest a blueprint for an eFranc as a possible complement for the Swiss monetary system to ensure the long-term stability of its money. An eFranc is a non-interest-bearing digital form of the legal tender available to the public. The public can convert banknotes or part of its bank deposits...

When a counter-proposal is made to an initiative to change the Swiss constitution, the citizenry makes three binary majority choices: the initiative versus the status quo, the initiative versus the counter-proposal, and the status quo versus the counterproposal as a tie-breaker. If there is a...