We propose that heterogeneous asset trading behavior is the result of two distinct, non-convertible mental dimensions: analytical ("quantitative") capability and mentalizing ("perspective-taking") capability. We develop a framework of mental capabilities that yields testable predictions about...

The popular practice of “leading by the successful” is viewed as a hallmark of motivational leadership. A central rationale for leaders to make successful team members salient is that it may induce social learning, where followers strive to adopt a favorable behavior. The reliance of a...

We propose a model of competitive attention based on two key premises: i) People have limited information processing capacities and ii) consideration sets are formed according to relative salience. The equilibrium predictions we obtain can help to understand, and connect, diverse empirical...

This paper develops a framework to systematically study how changes in market conditions affect the equilibrium inequality between heterogeneous agents. By stating our setting as a "competition for market shares", we can derive inequality predictions for vastly different competition models. This...

In Erfüllung des Postulats Caroni "Faires Verfahren beim Zugang zu geschlossenen Märkten des Bundes" (15.3398) hat das SECO eine externe Studie im Auftrag gegeben. Diese Studie analysiert die Zugangsverfahren zu 16 unterschiedliche Märkte des Bundes, um zu bestimmen, ob sie die Prinzipien der...