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committees benefits from voting insincerely accrue not only when a decision maker's vote is pivotal. As the number of voters … increases, the cost of voting insincerely declines in an open committee because the probability of being pivotal declines. This … is not the case in a closed committee where costs and benefits of insincere voting only arise when a voter is pivotal. …
Persistent link: https://www.econbiz.de/10009635893
the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication …
Persistent link: https://www.econbiz.de/10009635876
During the last decade, markets for covered warrants (bank-issued options) have flourished in Europe and Asia. In these markets, investors often face a choice between many instruments that differ only slightly from each other. Based on retail trades in call options on the German DAX index, this...
Persistent link: https://www.econbiz.de/10009640343
Rational expectations has been the dominant way to model expectations, but the literature has quickly moved to a more realistic assumption of boundedly rational learning where agents are assumed to use only a limited set of information to form their expectations. A standard assumption is that...
Persistent link: https://www.econbiz.de/10009640692
We develop a dynamic stochastic general equilibrium model with rational inattention by households and firms. Consumption responds slowly to interest rate changes because households decide to pay little attention to the real interest rate. Prices respond quickly to some shocks and slowly to other...
Persistent link: https://www.econbiz.de/10009640770
Persistent link: https://www.econbiz.de/10009637790
elections. Independent candidates perform better in systems with plurality rule or preferential voting compared to party-list PR …Independent candidates remain marginal vote-getters in the vast majority of elections in which they compete. However … elections, while only a quarter of member states allow non-party candidates in European Parliament elections. Ballot access …
Persistent link: https://www.econbiz.de/10011902493
Polish politicians are increasingly often referring to the prospect of next yearu0092s elections to the European … entail any obvious political consequences. As a result, the significance of these elections to Western European politicians … voting, concurrent national parliamentary elections, perceived weakness of domestic institutions and overall support for the …
Persistent link: https://www.econbiz.de/10009636931
Some financial products facilitate (“Financial Instruments”’) the use of voting rights that can be considered … questionable under the law (“Questionable Uses of Voting Rights”). These Questionable Uses of Voting Rights become apparent when …, using the Financial Instruments, an investor is in a negative voting situation. This situation occurs when an investor …
Persistent link: https://www.econbiz.de/10010487780
Persistent link: https://www.econbiz.de/10011624777