Conflict and war are typically viewed as the outcome of misperceptions, incomplete information, or even irrationality. We show that it can otherwise. Despite the short-run incentives to settle disputes peacefully , there can be long-term, compounding rewards to going to war when doing better...

Consider an agent who collects information over time, but who imperfectly recalls the date at which he made each observation. If the state of nature changes over time, then the agent's performance may worsen with experience.

The hypothesis that employers have an interest in the hours worked by their employees suggests that hours and wages are systematically related. Since employer interest may constrain employee hours of work, individuals realize their preferences for hours through their choices of jobs. An...

In this paper we describe methods for obtaining the predictive distributions of outcome gains in the framework of a standard latent variable selection model. While most previous work has focused on estimation of mean treatment parameters as the method for characterizing outcome gains from...

This paper explores the positive and normative effects of regulations governing the disclosure of product information. As an example, a Japanese food labeling system which requires explicit display of expiration dates is compared with a U.S. system which permits the encoding of expiration dates....

A growing literature has brought to our attention the importance of information transmission and aggregation for economic and political behavior. Many recent studies of cascades point to the possibility of information cascades in economies with local learning and information transmission....

We survey modern models of delegation which assume that a boss and subordinate pursue their own goals. Among the major themes covered are thefolling: the conditions under which the boss will prefer to delegate versus those in which she will prefer to retain authority; the ways in which a boss...