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Voluntary bankruptcy as preemptive persuasion
Dinev, Nikolay - 2017
This paper examines the phenomenon of management-initiated, court-supervised reorganization of companies in U.S. bankruptcy court. The proposed in-court persuasion mechanism reconciles excessive reorganizations of non-viable companies (and subsequent repeat failures) with management-initiated...
Persistent link: https://www.econbiz.de/10011779720
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Shareholder intervention, managerial resistance, and corporate control : a nash equilibrium approach
Mason, Charles F.; Gottesman, Aron A.; Prevost, Andrew K. - In: The quarterly review of economics and finance : journal … 43 (2003) 3, pp. 466-482
Persistent link: https://www.econbiz.de/10001782511
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Believing when credible : talking about future plans and past actions
Vida, Péter - 2015
whenever possible, thereby develop a theory of credible communication. Predictions confirm the longstanding intuition for …
Persistent link: https://www.econbiz.de/10011345781
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Optimal relevance in imperfect information games
Streb, Jorge M. - 2015 - 1. ed.
To help incorporate natural language into economic theory, this paper does two things. First, the paper extends to …
Persistent link: https://www.econbiz.de/10011346272
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Learning and collusion in new markets with uncertain entry costs
Bloch, Francis; Fabrizi, Simona; Lippert, Steffen - 2011
This paper analyses an entry timing game with uncertain entry costs. Two firms receive costless signals about the cost of a new project and decide when to invest. We characterize the equilibrium of the investment timing game with private and public signals. We show that competition leads the two...
Persistent link: https://www.econbiz.de/10009409636
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Commitments, intentions, truth and Nash equilibria
Schlag, Karl H.; Vida, Péter - 2013
Games with multiple Nash equilibria are believed to be easier to play if players can communicate. We present a simple model of communication in games and investigate the importance of when communication takes place. Sending a message before play captures talk about intentions, after play...
Persistent link: https://www.econbiz.de/10010200432
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Equilibrium selection in cheap talk games : ACDC rocks when other criteria remain silent
Groot Ruiz, Adrian de; Offerman, Theo; Onderstal, Sander - 2012
Currently no refinement exists that successfully selects equilibria across a wider range of Cheap Talk games. We propose a generalization of refinements based on credible deviations, such as neologism proofness and announcement proofness. According to our Average Credible Deviation Criterion...
Persistent link: https://www.econbiz.de/10011383193
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Not So Cheap Talk : Costly and Discrete Communication
Smith, John - 2012
We model an interaction between an informed sender and an uninformed receiver. As in the classic cheap talk setup, the informed player sends a message to an uninformed receiver who is to take an action which affects the payoffs of both players. However, in our model the sender can communicate...
Persistent link: https://www.econbiz.de/10013115983
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One Truth and a Thousand Lies : Focal Points in Mechanism Design
Bochet, Olivier - 2017
Truthtelling is often viewed as focal in direct mechanisms. We introduce two new notions of robust implementation based on the premise that society may be composed of "primitive'' agents who, whenever confronted with a strategy profile, anchor to truthtelling and make a limited number of...
Persistent link: https://www.econbiz.de/10012951989
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A Belief-based Theory for Private Information Games
Serena, Marco - 2019
We propose a belief-based theory for private information games. A Bk player forms correct beliefs up to the k …, as in standard game theory. Heuristic beliefs ignore the distribution of types and are rather heuristic projections of … version of the game, where the entire hierarchy of beliefs is heuristic. We ground the belief-based theory on the …
Persistent link: https://www.econbiz.de/10012901411