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strategy amid a collegial approach to decision-making, while the Bank of England is using a collegial communication strategy … and highly individualistic decision-making. The ECB has chosen a collegial approach both in its communication and in its …The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central …
Persistent link: https://www.econbiz.de/10011604534
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 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
We report and analyze the results of a series of classroom experiments on the voluntary provision of public goods. Using fixed effect panel regression models we find that cooperation significantly increases when participants are forced to guess the degree of overall cooperation. We also find...
Persistent link: https://www.econbiz.de/10010305450
). Therefore, COMPASS (companies' and sectors'path to sustainability) has been developed to provide decision-makers in a company or …, ecological and social aspects throughout the whole product system in order to enable decision-makers to optimise processes …
Persistent link: https://www.econbiz.de/10010306151
factors for this implementationinclude the improvement of information and communication within the company, the increase in …
Persistent link: https://www.econbiz.de/10010306154
Our paper aims to assess how the Magyar Nemzeti Bank’s communication affects financial asset prices. We find that the …, while short-term yields are influenced only by the communication related to the exchange rate. Analysing the direction and … channels of communication we observe two asymmetries. The central bank is more successful in signalling monetary policy …
Persistent link: https://www.econbiz.de/10010322457
Should principals explain and justify their evaluations? In this paper the principal's evaluation is private information, but she can provide some justifications by sending a costly message. Indeed, it is optimal for the principal to explain her evaluation to the agent if and only if the...
Persistent link: https://www.econbiz.de/10010323871
This paper studies collusion in repeated auctions when bidders communicate prior to each stage auction. The paper presents a folk theorem for independent and correlated private signals and general interdependent values. Specifically, it identifies conditions under which an equilibrium collusion...
Persistent link: https://www.econbiz.de/10010332262