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Privacy or publicity : who drives the wheel?

Bannier, Christina E. - 2003

Financial markets are to a very large extent influenced by the advent of information. Such disclosures, however, do not only contain information about fundamentals underlying the markets, but they also serve as a focal point for the beliefs of market participants. This dual role of information...

Persistent link: https://www.econbiz.de/10009764767

Optimal degree of public information dissemination

Cornand, Camille; Heinemann, Frank - 2006

environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public …

Persistent link: https://www.econbiz.de/10010366530

Limited higher order beliefs and the welfare effects of public information

Cornand, Camille; Heinemann, Frank - 2013

behavior of others. This may lead to welfare-reducing 'overreactions' to public signals as shown by Morris and Shin (2002 … levels of reasoning. This paper analyzes the welfare effects of public information under limited levels of reasoning and … information cannot reduce welfare, unless the policy maker has instruments that are perfect substitutes to private actions. …

Persistent link: https://www.econbiz.de/10009787097

Economic sentiment : disentangling private information from public knowledge

Heinisch, Katja; Lindner, Axel - 2021

This paper addresses a general problem with the use of surveys as source of information about the state of an economy: Answers to surveys are highly dependent on information that is publicly available, while only additional information that is not already publicly known has the potential to...

Persistent link: https://www.econbiz.de/10012703125

Information independence and common knowledge

Gossner, Olivier; Kalai, Ehud; Weber, Robert James - 2009

In Bayesian environments with private information, as described by the types of Harsanyi, how can types of agents be (statistically) disassociated from each other and how are such disassociations reflected in the agents’ knowledge structure? Conditions studied are (i) subjective independence...

Persistent link: https://www.econbiz.de/10003873501

Mechanim design and intentions

Bierbrauer, Felix; Netzer, Nick - 2014 - Revised version, April 2014

Satterthwaite (1983) are then turned into possibility results. We also provide a systematic account of the welfare implications of …

Persistent link: https://www.econbiz.de/10010354632

Bargaining under incomplete information, fairness, and the hold-up problem

Siemens, Ferdinand von - 2005

In the hold-up problem incomplete contracts cause the proceeds of relation-specific investments to be allocated by ex-post bargaining. The present paper investigates the efficiency of incomplete contracts if individuals have heterogeneous preferences implying heterogeneous bargaining behavior...

Persistent link: https://www.econbiz.de/10010371083

Mechanism design and intentions

Bierbrauer, Felix; Netzer, Nick - 2016

account of the welfare implications of intentionality. …

Persistent link: https://www.econbiz.de/10011444226

Intention-based reciprocity and the hidden costs of control

Siemens, Ferdinand von - 2011

Empirical research suggests that - rather than improving incentives - exerting control can reduce workers' performance by eroding motivation. The present paper shows that intention-based reciprocity can cause such motivational crowding-out if individuals differ in their propensity for...

Persistent link: https://www.econbiz.de/10009272298

Consumer information in a market for expert services : experimental evidence

Schneider, Tim; Meub, Lukas; Bizer, Kilian - 2016

being carried out and thus superior overall welfare. In contrast to our theoretical predictions, this effect does not depend …

Persistent link: https://www.econbiz.de/10011496820

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