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complexity (and the comparatively narrow boundaries of human cognitive faculties), relatively limited. The paper aims to …
Persistent link: https://www.econbiz.de/10011706902
requiring a method appropriate to this complexity. …The method appropriate to the historical and conceptual investigation of Hayek’s ideas is implicit in his own writings …
Persistent link: https://www.econbiz.de/10011899124
patents affect patenting incentives. We show that lower technological opportunities increase patenting incentives in complex … technologies while they decrease incentives in discrete technologies. Also, more competitors increase patenting incentives in …
Persistent link: https://www.econbiz.de/10009012623
rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to …Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded … cause large shifts in behavior. Our results illustrate important implications of complexity for designing and regulating …
Persistent link: https://www.econbiz.de/10014311541
rationality can affect effort provision, by shrouding attributes of the incentives. In our setting, complexity leads workers to …Using field and laboratory experiments, we demonstrate that the complexity of incentive schemes and worker bounded … cause large shifts in behavior. Our results illustrate important implications of complexity for designing and regulating …
Persistent link: https://www.econbiz.de/10014309731
Standard economics models require that financial incentives improve performance, while leading theories in psychology …
Persistent link: https://www.econbiz.de/10013449451
Persistent link: https://www.econbiz.de/10000906904
This paper examines in how far the DSGE model which is often dubbed the New Keynesian Consensus is compatibel with a … Post-Keynesian or traditional Keynesian understanding of the economy. It is argued that while at first sight DSGE models …Das Papier untersucht, inwieweit moderne Ansätze aus der Klasse der DSGE-Modelle (Dynamic Stochastic General …
Persistent link: https://www.econbiz.de/10009304904
Persistent link: https://www.econbiz.de/10009427838
We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy rate by 150 basis points causes output and inflation...
Persistent link: https://www.econbiz.de/10011389786