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We explore the potential benefits of an up-and-coming business model called "pay-what-you-like" in an environment where consumers experience a warm glow by patronizing a particular firm. We show that, given a social norm regarding minimum contributions, a pay-what-you-like firm should announce a...
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Using a theoretical model of noisy expert advice, I show that language inflation can be a rational response to the vagueness of language. Experts will tend to overstate their positions to a like‐minded decision maker (DM) and this constitutes a Pareto improvement over sending a sincere...
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This study tests whether individuals are reluctant to tell lies, or perhaps only “harmful lies”, in a previously untested environment: an expert sending a message to a decision maker whose interpretation of that message is subject to error, i.e. a noisy sender–receiver game. In the Aligned...
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