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We report evidence from an experiment where a principal chooses an agent out of two to perform a task for a fixed compensation. The principal's payoff depends on the agent's ex-ante ability and on a non-contractible effort that the agent has to exert once employed. We find that a significant...
Persistent link: https://www.econbiz.de/10010291826
We analyze the performance of various communication protocols in a generalization of the Crawford-Sobel (1982) model of … possible that informative communication with one or both receivers is impossible in private, but possible in public. When the … by public communication with the flexibility provided by private communication and transmit more information to the …
Persistent link: https://www.econbiz.de/10010291984
We study communication in a static Cournot duopoly model under the assumption that the firms have unverifiable private … can communicate through a third party, communication can be informative even when it is not substantiated by any … commitment or costly actions. We exhibit a simple mechanism that ensures informative communication and interim Pareto dominates …
Persistent link: https://www.econbiz.de/10010292012
The objective of this article is to take a closer look at discourse analysis as a qualitative method of data collection, analysis and theory building in Human Resource Management. Working exclusively with audio or video recordings of authentic conversations and following a systematic...
Persistent link: https://www.econbiz.de/10010292561
We show that, in a two-stage model of monetary policy with stochastic policy targets and asymmetric information, the transparency regime chosen by the central bank does never coincide with the regime preferred by society. Independent of society's endogenous choice of delegation, the central bank...
Persistent link: https://www.econbiz.de/10010292645
We study the effects of communication in an experimental tournament between teams. When teams, rather than individuals … communication in such situations may have ambiguous effects on effort choices. Communication within teams may promote higher efforts … by mitigating the internal free-rider problem. Communication between competing teams may lead to collusion, thereby …
Persistent link: https://www.econbiz.de/10010293434
Team success relies on assigning team members to the right tasks. We use controlled experiments to study how roles are assigned within teams and how this affects team performance. Subjects play the takeover game in pairs consisting of a buyer and a seller. Understanding optimal play is very...
Persistent link: https://www.econbiz.de/10010294770
commons through institutional change or communication. Teams of five players are placed in a dynamic CPR environment with … inefficient institutional settings. The results clearly show the vital importance of communication. At the same time, the groups …
Persistent link: https://www.econbiz.de/10010296565
We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy...
Persistent link: https://www.econbiz.de/10010299092
Monetary policy in the euro area is conducted within a multi-country, multi-cultural, and multi-lingual context involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand and to anticipate monetary policy by the ECB? Using a...
Persistent link: https://www.econbiz.de/10010299102