Showing 1 - 10 of 7,871
-agreeing-to-disagree" theorem. -- unawareness ; type-space ; Bayesian games ; incomplete information ; equilibrium ; common prior ; agreement …
Persistent link: https://www.econbiz.de/10003728030
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for potential applications of asymmetric unawareness. We compare unawareness with probability zero belief. Applying our unawareness belief structures, we show that the...
Persistent link: https://www.econbiz.de/10003894997
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for potential applications of asymmetric unawareness. Applying our unawareness belief structures, we show that the common prior assumption is too weak to rule out...
Persistent link: https://www.econbiz.de/10013116677
We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for potential applications of asymmetric unawareness. Applying our unawareness belief structures, we show that the common prior assumption is too weak to rule out...
Persistent link: https://www.econbiz.de/10009544213
Human utility embodies a number of seemingly irrational aspects. The leading example in this paper is that utilities often depend on the presence of salient unchosen alternatives. Our focus is to understand <i>why</i> an evolutionary process might optimally lead to such seemingly dysfunctional features...
Persistent link: https://www.econbiz.de/10011704445
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 decision. This result is robust to the information environment. The paper …
Persistent link: https://www.econbiz.de/10014239114
This paper studies the optimal scoring of multiple choice tests in which the marks for wrong selection and omission jointly minimize the mean square difference between score and examinees' ability. I find that it is efficient to incentivize the lowest able to omit, except when the test has a...
Persistent link: https://www.econbiz.de/10012840409
insured individuals. Thus, the functioning of social norms depends crucially on information, in particular on what norm … enforcers are able to observe about an insured individual's behavior. Information is also decisive when distinguishing between …
Persistent link: https://www.econbiz.de/10010482983
endogenous information structures: Players are uninformed whether the target player cooperated or defected at the cooperation … stage, but can decide to resolve the information imperfection at non-negative cost at the punishment stage. We examine how … resolving the information imperfection) and a «diffusion effect» (defectors make up a smaller share of the punished and receive …
Persistent link: https://www.econbiz.de/10009771159
Information are different from normal, especially private goods. This has to be considered in an economic analysis …. Using science and the internet as examples, some specific characteristics of information are presented and implications are …
Persistent link: https://www.econbiz.de/10010373774