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Binswanger, Johannes; Oechslin, Manuel - Tilburg University, Center for Economic Research - 2014

fostering outward orientation). Broad objectives, however, can be pursued in many di¤erent ways, and policy experimentation is …

Persistent link: https://www.econbiz.de/10011090351

Learning to Disagree in a Game of Experimentation

Bonatti, Alessandro; Horner, Johannes - Cowles Foundation for Research in Economics, Yale University - 2015

We analyse strategic experimentation in which information arrives through fully revealing, publicly observable … improves. We analyse the role of policy interventions such as subsidies for experimentation and risk-sharing agreements. We …

Persistent link: https://www.econbiz.de/10011203001

Career Concerns and Market Structure

Bonatti, Alessandro; Horner, Johannes - Cowles Foundation for Research in Economics, Yale University - 2011

This paper analyzes the impact of market structure on career concerns. Effort increases the probability that a skilled agent achieves a one-time breakthrough. Wages are based on assessed ability and on expected output. For any wage, the agent works too little, too late. Under short-term...

Persistent link: https://www.econbiz.de/10010895652

Competitive problem solving and the optimal prize schemes

Suzuki, Toru - In: Games and Economic Behavior 75 (2012) 2, pp. 1009-1013

Agents compete to solve a problem. Each agent simultaneously chooses either a safe method or a risky method to solve the problem. This paper analyzes a prize scheme as an incentive to induce the optimal risk-taking level which maximizes the designerʼs interest. It is shown that whenever the...

Persistent link: https://www.econbiz.de/10011049863

It's not my Fault! Self-Confidence and Experimentation

Hestermann, Nina; Le Yaouanq, Yves - 2018

We study the inference and experimentation problem of an agent in a situation where the outcomes depend on the …

Persistent link: https://www.econbiz.de/10011932989

Entry and experimentation in oligopolistic markets for experience goods

Krähmer, Daniel - Abteilung "Marktprozesse und Steuerung", … - 2002

product. While consumers can learn their valuation by actual consumption (experimentation), sellers cannot observe … experimentation outcomes. Thus, asymmetric information arises if the buyer experiments. As a result, the equilibrium is inefficient … ausprobiert (Experimentation). Die Verkäufer hingegen können nicht beobachten, ob der Käufer zufrieden war, wenn er das neue Gut …

Persistent link: https://www.econbiz.de/10009367916

Collaborating

Bonatti, Alessandro; Horner, Johannes - Cowles Foundation for Research in Economics, Yale University - 2009

This paper examines moral hazard in teams over time. Agents are collectively engaged in an uncertain project, and their individual efforts are unobserved. Free-riding leads not only to a reduction in effort, but also to procrastination. The collaboration dwindles over time, but never ceases as...

Persistent link: https://www.econbiz.de/10005000297

The (in)appropriate benchmark when beliefs are not the only state variable

Keller, Godfrey - Department of Economics, Oxford University - 2005

In models of learning by experimentation, there is a natural benchmark of myopia when the only intertemporal link is … experimentation, since the payoffs of a passive learner can be markedly lower than those of a naive learner. …

Persistent link: https://www.econbiz.de/10005090686

Career Dynamics Under Uncertainty: Estimating the Value of Firm Experimentation

Pastorino, Elena - Society for Economic Dynamics - SED - 2005

assignment policy is solution to an experimentation problem---a multi--armed Bandit problem with dependent arms. In presence of … associated with increased experimentation in firms. …

Persistent link: https://www.econbiz.de/10005090831

Optimal Job Design and Career Dynamics in the Presence of Uncertainty

Pastorino, Elena - Society for Economic Dynamics - SED - 2004

experimentation problem, a discounted multi-armed bandit with independent and dependent arms. These equilibria are all ex ante …

Persistent link: https://www.econbiz.de/10005090887