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Technological progress is considered as a source of growth and productivity gains for national economies. Thus,understanding the factors that determine the diffusion of new technologies across african countries is important to understanding the process of economic development. And whereas,...
Persistent link: https://www.econbiz.de/10005006789
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/10011599367
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
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/10005212485
Persistent link: https://www.econbiz.de/10005136822
I develop a set-theoretic model of unawareness without making any structural assumptions on the underlying state space. Unawareness is characterized as a measurability constraint that results in players' reasoning about a “coarse" subjective algebra of events. The model is shown to be...
Persistent link: https://www.econbiz.de/10005102103
problem. Information is modeled as a pair, consisting of both factual information and awareness information. The model … preserves the central properties of the standard information partition model. …
Persistent link: https://www.econbiz.de/10005102108
investigate this question in case that the individual probability functions are based on different information sets. Under … any overlaps between different persons' information sets. The solutions are derived from an axiomatic system that models … parameter-free, and that they incorporate each individual's information although the individuals need not communicate their …
Persistent link: https://www.econbiz.de/10005412461
consequences, we propose an alternate way of presenting stock market information. The alternative is easy to implement and can help …
Persistent link: https://www.econbiz.de/10005836479
This paper experimentally investigates the impact of different pay and relative performance information policies on … employee effort. We explore three information policies: No feedback about relative performance, feedback given halfway through … off. Moreover, in both pay schemes information feedback reduces the quality of the low performers' work. …
Persistent link: https://www.econbiz.de/10010268675