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This paper analyses in a simple global games framework welfare effects stemming from different communication strategies of public agencies if strategies of agents are complementary to each other: communication can either be fully transparent, or the agency opaquely publishes only its overall...
Persistent link: https://www.econbiz.de/10003747918
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This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...
Persistent link: https://www.econbiz.de/10009153832
This paper performs a welfare analysis of economies with private information when public information is endogenously generated and agents can condition on noisy public statistics in the rational expectations tradition. We find that equilibrium is not (restricted) efficient even when feasible...
Persistent link: https://www.econbiz.de/10009259934
We consider three questions related to the choice between war in Iraq and a continuation of the pre-war containment … war more or less costly for the United States than containment? Second, compared to war and forcible regime change, would … a continuation of the containment policy have saved Iraqi lives? Third, is war likely to bring about an improvement or …
Persistent link: https://www.econbiz.de/10013219222
Persistent link: https://www.econbiz.de/10003859047
security analysts. Our analysis also indicates that war and forcible regime change will yield large improvements in the …We consider three questions related to the choice between war in Iraq and a continuation of the pre-war containment … war more or less costly for the United States than containment? Second, compared to war and forcible regime change, would …
Persistent link: https://www.econbiz.de/10012466576
Persistent link: https://www.econbiz.de/10009577421
Persistent link: https://www.econbiz.de/10015141135
Including the entry decision in a Bertrand model with imperfectly informed consumers, we introduce a trade-off at the level of social welfare. On the one hand, market transparency is benefi cial when the number of firms is exogenously given. On the other, a higher degree of market transparency...
Persistent link: https://www.econbiz.de/10008934396