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Optimal Dynamic Public Communication
Miccoli, Marcello - 2012
This paper builds a dynamic model of the information flow between partially informed financial institutions and a … observing with measurement error the actions of the financial institutions and decides whether to communicate the information at … (taken as the release of information whenever it is collected) is not always optimal. Instead, optimal plans involve delayed …
Persistent link: https://www.econbiz.de/10013108339
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Surfing Incognito : Welfare Effects of Anonymous Shopping
Lagerlöf, Johan N. M. - 2019
This paper studies consumers' incentives to hide their purchase histories when the seller's prices depend on previous behavior. Through distinct channels, hiding both hinders and facilitates trade. Indeed, the social optimum involves hiding to some extent, yet not fully. Two opposing effects...
Persistent link: https://www.econbiz.de/10012896790
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Endogenous growth, the distribution of wealth, and optimal policy under incomplete markets and idiosyncratic risk
Clemens, Christiane; Heinemann, Maik - 2012
This paper combines the standard incomplete markets model of uninsurable idiosyncratic risks and borrowing constraints with the Arrow/Romer approach to endogenous growth to analyze the interaction of risk, growth, and inequality, the latter also endogenously determined in equilibrium. We derive...
Persistent link: https://www.econbiz.de/10009540768
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Resolute Choice in Interaction : A Welfare Comparison
Lotito, Gianna - 2022
In this paper we extend the model of Resolute Choice to a situation of interaction and compare it with the Sophisticated-subgame perfect equilibrium and the Myopic Choice models in terms of welfare implications. The framework adopted is a non-cooperative game in which two players with different...
Persistent link: https://www.econbiz.de/10014243566
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Legal Uncertainty as a Welfare Enhancing Screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10012977556
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The value of technology improvements in games with externalities : a fresh look at offsetting behavior
Hoy, Michael; Polborn, Mattias - 2014
How should we evaluate the welfare implications of improvements to safety technologies in the presence of offsetting behavior? We model this problem as a symmetric game in which each player's payoff depends on his own action and the average action of the other players, and analyze under which...
Persistent link: https://www.econbiz.de/10010354804
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Add-on pricing, naive consumers, and the hidden welfare costs of education
Kosfeld, Michael; Schüwer, Ulrich - 2011
increase welfare; however, it may also decrease welfare if education is insufficient to alter the equilibrium information and …
Persistent link: https://www.econbiz.de/10009516903
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The Welfare Impacts of Commodity Price Volatility : Evidence from Rural Ethiopia
Bellemare, Marc F. - 2011
Many governments have tried to stabilize commodity prices based on the widespread belief that households in developing countries – especially poorer ones – value price stability, defined here as the lack of fluctuations around a mean price level. We derive a measure of multivariate price...
Persistent link: https://www.econbiz.de/10013133948
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Add-On Pricing, Naive Consumers, and the Hidden Welfare Costs of Education
Kosfeld, Michael - 2011
increase welfare; however, it may also decrease welfare if education is insufficient to alter the equilibrium information and …
Persistent link: https://www.econbiz.de/10013118774
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Do Increases in Environmental Risk Reduce Welfare? A Dynamic Game Perspective
Benchekroun, Hassan - 2013
We consider the effect of an increase in the risk from pollution. We show that in the case of a flow pollution, when the number of players is sufficiently large, the result of Bramoulle and Treich, showing that a marginal increase of risk in the neighborhood of a risk-free world is...
Persistent link: https://www.econbiz.de/10013081942