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Contingent preference for flexibility : eliciting beliefs from behavior
Sadowski, Philipp - In: Theoretical economics : TE ; an open access journal in … 8 (2013) 2, pp. 503-534
others' ranking of contracts, also share beliefs about each others' future tastes in the face of unforeseen contingencies. …
Persistent link: https://www.econbiz.de/10011686674
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Hidden actions and preferences for timing of resolution of uncertainty
Ergin, Haluk İ.; Sarver, Todd - 2012
We study preferences for timing of resolution of objective uncertainty in a menuchoice model with two stages of information arrival. We characterize a general class of utility representations called hidden action representations, which interpret an intrinsic preference for timing of resolution...
Persistent link: https://www.econbiz.de/10009755857
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Hidden actions and preferences for timing of resolution of uncertainty
Ergin, Haluk İ.; Sarver, Todd - In: Theoretical economics : TE ; an open access journal in … 10 (2015) 2, pp. 489-541
We study preferences for timing of resolution of objective uncertainty in a menu-choice model with two stages of information arrival. We characterize a general class of utility representations called hidden action representations, which interpret an intrinsic preference for timing of resolution...
Persistent link: https://www.econbiz.de/10011673372
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Robust Information Aggregation
Veiel, Rafael - 2022
Consider an investment problem with strategic complementarities and incomplete information about returns. This paper shows that investors aggregate their private information in equilibrium by trading a token and observing its market price over multiple rounds before making the investment...
Persistent link: https://www.econbiz.de/10014239114
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Contracts and uncertainty
Olszewski, Wojciech; Sandroni, Alvaro - In: Theoretical economics : TE ; an open access journal in … 2 (2007) 1, pp. 1-13
mitigated by screening contracts that separate informed from uninformed experts. This result stands in contrast with the … analysis of contracts under risk, where separation is often feasible. …
Persistent link: https://www.econbiz.de/10011702645
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Robust contracting under common value uncertainty
Auster, Sarah - In: Theoretical economics : TE ; an open access journal in … 13 (2018) 1, pp. 175-204
these contracts. …
Persistent link: https://www.econbiz.de/10011855861
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Hidden actions and preferences for timing of resolution of uncertainty
Ergin, Haluk İ.; Sarver, Todd - In: Theoretical economics : TE ; journal of the Econometric … 10 (2015) 2, pp. 489-541
Persistent link: https://www.econbiz.de/10011346126
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Incentives for Unaware Agents
von Thadden, Ernst-Ludwig; Zhao, Xiaojian - 2020
The paper introduces the problem of unawareness into Principal-Agent theory and discusses optimal incentive contracts … contracts show a self-reinforcing pattern: if there are few unaware agents in the economy optimal contracts promote awareness …, if unawareness is wide-spread optimal contracts shroud the contracting environment, thus keeping the agent unaware …
Persistent link: https://www.econbiz.de/10014042199
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Foundations of ambiguity models under symmetry : α-MEU and smooth ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon; … - 2021 - This Version: January 13, 2021
The α-MEU model and the smooth ambiguity model are two popular models in decision making under ambiguity. However, the axiomatic foundations of these two models are not completely understood. We provide axiomatic foundations of these models in a symmetric setting with a product state space...
Persistent link: https://www.econbiz.de/10012422419
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Symmetry axioms and perceived ambiguity
Klibanoff, Peter; Mukerji, Sujoy; Seo, Kyoungwon - 2017
Since at least de Finetti [7], preference symmetry assumptions have played an important role in models of decision making under uncertainty. In the current paper, we explore (1) the relationship between the symmetry assumption of Klibanoff, Mukerji and Seo (KMS) [21] and alternative symmetry...
Persistent link: https://www.econbiz.de/10011694779