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Goltsman, Maria; Pavlov, Gregory - 2008

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

Cognitive empathy in conflict situations

Gauer, Florian; Kuzmics, Christoph - 2016

Two individuals are involved in a conflict situation in which preferences are ex ante uncertain. While they eventually learn their own preferences, they have to pay a small cost if they want to learn their opponent's preferences. We show that, for sufficiently small positive costs of information...

Persistent link: https://www.econbiz.de/10011582517

Optimal deadlines for agreements

Damiano, Ettore; Li, Hao; Suen, Wing - In: Theoretical Economics 7 (2012) 2, pp. 357-393

Costly delay in negotiations can induce the negotiating parties to be more forthcoming with their information and improve the quality of the collective decision. Imposing a deadline may result in stalling, in which players at some point stop making concessions but switch back to conceding at the...

Persistent link: https://www.econbiz.de/10011599465

Divide and Conquer: Noisy Communication in Networks, Power, and Wealth Distribution

Perez, Wilson - 2004

nodes in a communication network. However, communication through the network is noisy, which removes common knowledge about …

Persistent link: https://www.econbiz.de/10011324912

Ordinal cheap talk

Chakraborty, Archishman; Harbaugh, Rick - 2003

into categories by value, can be credible even when interests are too opposed to support communication along any single …, thereby precluding any possibility of exaggeration. The communication gains from ordinal cheap talk can be substantial with …

Persistent link: https://www.econbiz.de/10010263292

Default risk sharing between banks and markets: The contribution of collateralized debt obligations

Franke, Günter; Krahnen, Jan Pieter - 2005

This paper contributes to the economics of financial institutions risk management by exploring how loan securitization affects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains through a first loss piece a very high proportion of the...

Persistent link: https://www.econbiz.de/10010266932

Rent-seeking Contests under Symmetric and Asymmetric Information

Wasser, Cédric - 2010

We consider a variant of the Tullock rent-seeking contest. Under symmetric information we determine equilibrium strategies and prove their uniqueness. Then, we assume contestants to be privately informed about their costs of effort. We prove existence of a pure-strategy equilibrium and provide a...

Persistent link: https://www.econbiz.de/10010270753

The Rise of NGO Activism

Daubanes, Julien; Rochet, Jean-Charles - 2016

Activist NGOs increasingly oppose industrial projects that have nevertheless been approved by public regulators. To understand this recent rise in NGO activism, we develop a theory of optimal regulation in which a regulated industry seeks to undertake a project that may be harmful to society. On...

Persistent link: https://www.econbiz.de/10011480474

Der Handel von Kreditrisiken: Eine neue Dimension des Kapitalmarktes

Krahnen, Jan Pieter - 2005

This paper makes an attempt to present the economics of credit securitization in a nontechnical way, starting from the description and the analysis of a typical securitization transaction. The paper sketches a theoretical explanation for why tranching, or nonproportional risk sharing, which is...

Persistent link: https://www.econbiz.de/10010298264

Default risk sharing between banks and markets: The contribution of collateralized debt obligations

Franke, Günter; Krahnen, Jan Pieter - 2005

This paper contributes to the economics of financial institutions risk management by exploring how loan securitization a.ects their default risk, their systematic risk, and their stock prices. In a typical CDO transaction a bank retains through a first loss piece a very high proportion of the...

Persistent link: https://www.econbiz.de/10010298265

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