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A perfectly competitive economy is an economy without welfare relevant endogenous learning
Nyborg, Karine - 2021
information is shared, externalities arise. The standard conditions for the two fundamental welfare theorems, thus, implicitly …
Persistent link: https://www.econbiz.de/10012520083
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Bargaining With Endogenous Learning
Duraj, Jetlir - 2020
her valuation to the seller. Examples include venture capital negotiations or procurement of new technologies, which …
Persistent link: https://www.econbiz.de/10012832420
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Bargaining While Learning About New Arrivals
Huang, Chong - 2013
We study dynamic bargaining with uncertainty over the buyer's valuation and the seller's outside option. A long-lived seller makes offers to a long-lived buyer whose value is private information. There may exist a short-lived buyer whose value is higher than that of the long-lived buyer. The...
Persistent link: https://www.econbiz.de/10013081626
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Information Acquisition in a War of Attrition
Kim, Kyungmin; Xu, Frances - 2012
We consider a war of attrition with stochastic deadlines in which the players can learn about the state that determines their payoffs at deadline. We study how the players' incentives to acquire information depend on the (un)verifiability of information and what implications these incentives...
Persistent link: https://www.econbiz.de/10014165971
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Persuasion by dimension reduction
Malamud, Semyon; Schrimpf, Andreas - 2021 - This version: October 17, 2021
How should an agent (the sender) observing multi-dimensional data (the state vector) persuade another agent to take the desired action? We show that it is always optimal for the sender to perform a (non-linear) dimension reduction by projecting the state vector onto a lower-dimensional object...
Persistent link: https://www.econbiz.de/10012799529
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Reputation building with endogenous speed of learning
Pei, Harry - 2019
I study reputation models in which information about the long-run player's past behavior is dispersed among short-run players. I identify two challenges to reputation building when such information is aggregated via the short-run players' actions. First, when the long-run player's action can...
Persistent link: https://www.econbiz.de/10012169393
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Optimal feedback dynamics against free-riding in collective experimentation
Chen, Chia-hui; Eraslan, Hülya; Ishida, Junichiro; … - 2024
We consider a dynamic model in which a principal decides what information to release about a product of unknown quality (e.g., a vaccine) to incentivize agents to experiment with the product. Assuming that the agents are long-lived and forward-looking, their incentive to wait and see other...
Persistent link: https://www.econbiz.de/10015047806
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Learning in the WTO/DDA Negotiations? : An Experimental Study
Sung, Hankyoung - 2016
to real multilateral trade negotiations, such as the Doha Development Agenda (DDA) in the World Trade Organizations (WTO …). This paper argues that the structure of games including a veto player (Veto games) is similar to the WTO/DDA negotiations … negotiations and policy options for choosing partners for winning coalitions …
Persistent link: https://www.econbiz.de/10013003266
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Learning in the WTO/DDA negotiations? : an experimental study
Sung, Hankyoung - In: Journal of East Asian economic integration 19 (2015) 3, pp. 243-273
to real multilateral trade negotiations, such as the Doha Development Agenda (DDA) in the World Trade Organizations (WTO …). This paper argues that the structure of games including a veto player (Veto games) is similar to the WTO/DDA negotiations … negotiations and policy options for choosing partners for winning coalitions. …
Persistent link: https://www.econbiz.de/10011572871
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Public Information and Sequential Learning in a Bilateral Market
Kotsenko, Nikita - 2021
I study the effects of improved public information on equilibrium welfare and price dispersion, providing sufficient conditions for negative and positive effects. Public information affects welfare by reducing excessive (though rational) pessimism induced by sequential learning. Reduced...
Persistent link: https://www.econbiz.de/10013214754