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Honesty, lemons, and symbolic signals
Streb, Jorge M.; Torrens, Gustavo - 2012
Under asymmetric information, dishonest sellers lead to market unraveling in the lemons model. An additional cost of dishonesty is that language becomes cheap talk. We develop instead a model where people derive utility from actions (what they say), as well as from outcomes, so talk is costly....
Persistent link: https://www.econbiz.de/10010323274
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Meaningful talk
Streb, Jorge M.; Torrens, Gustavo - 2011
In economics, the standard approach to language is that talk is cheap. Here, instead, language is a social convention that affects utility. Unless language is used in its ordinary sense, it cannot help to coordinate actions because there is no way of decoding it. This points to a unique...
Persistent link: https://www.econbiz.de/10010323307
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Credible signals: A refinement of perfect Bayesian equilibria
Streb, Jorge M. - 2018
Persistent link: https://www.econbiz.de/10012609504
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Credible signals : a refinement of perfect Bayesian equilibria
Streb, Jorge M. - 2018
Persistent link: https://www.econbiz.de/10012113462
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On the Economics and Biology of Trust
Fehr, Ernst - 2008
In recent years, many social scientists have claimed that trust plays an important role in economic and social … transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the … identification of the exact role of trust in economic interactions has proven to be elusive. It is still not clear whether trust is …
Persistent link: https://www.econbiz.de/10011600798
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On the economics and biology of trust
Fehr, Ernst - 2008
In recent years, many social scientists have claimed that trust plays an important role in economic and social … transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the … identification of the exact role of trust in economic interactions has proven to be elusive. It is still not clear whether trust is …
Persistent link: https://www.econbiz.de/10010269174
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On the economics and biology of trust
Fehr, Ernst - 2008
In recent years, many social scientists have claimed that trust plays an important role in economic and social … transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the … identification of the exact role of trust in economic interactions has proven to be elusive. It is still not clear whether trust is …
Persistent link: https://www.econbiz.de/10011634169
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Exercising Empowerment in an Investment Environment
Gomaa, Mohamed; KiridaranKanagaretnam; Mestelman, Stuart; … - Department of Economics, McMaster University - 2014
grossed-up investments proposed by their agents in a modified trust game. We also analyze the changes in the surplus … associated with the introduction of empowerment and the resulting increase in trust by principals. Using probit analysis, we find … that the trust displayed by the principal and the trustworthiness of the agent are statistically significant variables in …
Persistent link: https://www.econbiz.de/10010940822
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On the Economics and Biology of Trust
Fehr, Ernst - Forschungsbasierte Infrastruktureinrichtung … - 2008
In recent years, many social scientists have claimed that trust plays an important role in economic and social … transactions. Despite its proposed importance, the measurement and the definition of trust seem to be not fully settled, and the … identification of the exact role of trust in economic interactions has proven to be elusive. It is still not clear whether trust is …
Persistent link: https://www.econbiz.de/10005018701
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Transparency and empowerment in an investment environment
Kanagaretnam, Kiridaran; Mestelman, Stuart; Nainar, … - In: Journal of Business Research 67 (2014) 9, pp. 2030-2038
incomplete information) and empowerment on trust and trustworthiness. We implement a simple version of the standard two …'s best interest, the level of trust and investment increases over that which is realized in the absence of empowerment … greater negative effect on trust than the positive effect associated with the introduction of empowerment. …
Persistent link: https://www.econbiz.de/10010869662