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We study communication in ambiguous environments. Agents communicate individual decisions sequentially. Based on the …, the decisions differ no matter how long the communication lasts. Such persistent disagreements are precluded in Bayesian … frameworks endowed with a common prior. When communication is private and nobody is excluded from it, we show that ambiguity …
Persistent link: https://www.econbiz.de/10014484275
This paper examines whether it is socially desirable for the individual voting records of central bank council members to be published when central bankers' ; preferences differ. We show that the misrepresentation of their preferences is not advantageous for central bankers although central...
Persistent link: https://www.econbiz.de/10001558069
Persistent link: https://www.econbiz.de/10002388984
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This paper examines whether it is socially desirable for the individual voting records of central bank council members to be published when central bankers' preferences differ. We show that the misrepresentation of their preferences is not advantageous for central bankers although central...
Persistent link: https://www.econbiz.de/10011419124
Persistent link: https://www.econbiz.de/10013424654
We develop a product market theory that explains why firms invest in general training of their workers. We consider a …
Persistent link: https://www.econbiz.de/10001610642
Persistent link: https://www.econbiz.de/10001774399
Persistent link: https://www.econbiz.de/10001828732
We introduce democratic mechanisms where individual utilities are not observable by other people at the legislative stage. We show that the combination of three rules can yield e±cient provision of public projects: first, flexible and double majority rules where the size of the majority depends...
Persistent link: https://www.econbiz.de/10001689878