Showing 1 - 10 of 2,835
This paper studies the influence of information on entry choices in a competition with a controlled laboratory … experiment. We investigate whether information provision attracts mainly high productivity individuals and reduces competition … productivity. Information on the opponent is a promising nudge to raise individuals' awareness towards the complexity of the …
Persistent link: https://www.econbiz.de/10010282257
The paper examines the economic role of modelling information on the decision problem of an exporting firm under … exchange rate risk and hedging. Information is described in terms of market transparency, i.e., a publicly observable signal … conveys more information about the random foreign exchange rate. We analyze the interaction between market transparency and …
Persistent link: https://www.econbiz.de/10010300624
substantial socioeconomic gradient. We focus on information gaps - specifically, incomplete information about college benefits and …-college-age) child attending college. We simulate an "information intervention", and find that were individuals to be provided with the …
Persistent link: https://www.econbiz.de/10011340967
socioeconomic gradient. We focus on information gaps – specifically, incomplete information about college benefits and costs – as a … potential explanation for these patterns. For this purpose, we conduct an information experiment about college returns and costs … outcomes of interest. Respondents are then randomly exposed to one of two information treatments, which respectively provide …
Persistent link: https://www.econbiz.de/10011401724
supplied information. Outside of the lab, it is difficult to disentangle the effect of the cost of information itself from the … effect of self-selection by individuals who tend to gain the most from this information. We thus create an environment in the … lab where subjects are offered additional, useful and identical information on the state of the world across treatments …
Persistent link: https://www.econbiz.de/10010326404
This paper reexamines the paradoxical aspect of the electronic mail game (Rubinstein, 1989). The electronic mail game is a coordination game with payoff uncertainty. At a Bayesian Nash equilibrium of the game, players cannot achieve the desired coordination of actions even when a high order of...
Persistent link: https://www.econbiz.de/10010332403
ignorance: 46% of subjects choose to ignore calorie information, and these subjects subsequently consume more calories on … risk. Further, we find that the prevalence of strategic ignorance largely negates the effectiveness of calorie information … provision: on average, subjects who have the option to ignore calorie information consume about the same number of calories as …
Persistent link: https://www.econbiz.de/10012101071
Existing models of regret aversion assume that individuals can make an ex-post comparison between their choice and a foregone alternative. Yet in many situations such a comparison can be made only if someone else chose the alternative option. We develop a model where regret-averse agents must...
Persistent link: https://www.econbiz.de/10012110582
After the publication of Keynes' "General Theory," economics was frequently described as schizophrenia: (neo-) classical at the micro-level, but Keynesian at the macro-level. In actuality, Keynes' revolution was, to a substantial part, based on the behavioral micro-foundations of the world we...
Persistent link: https://www.econbiz.de/10012140491
Keynes' General Theory (GT) ist in zweierlei Hinsicht umfassender als das (neo-) klassische Modell: (1) sie schließt das Vollbeschäftigungsgleichgewicht als Sonderfall ein und (2) sie basiert auf realistischem mikroökonomischem Verhalten, dessen sozial isolierter, den Eigennutz maximierender...
Persistent link: https://www.econbiz.de/10012140492