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Accounting for Noise in the Microfoundations of Information Aggregation

Linardi, Sera - 2016

noise. Subjects' behavior in a laboratory experiment is consistent with the model's prediction: though the posterior …

Persistent link: https://www.econbiz.de/10012995437

Dynamic Persuasion With Outside Information

Bizzotto, Jacopo - 2020

A principal seeks to persuade an agent to accept an offer of uncertain value before a deadline expires. The principal can generate information, but exerts no control over exogenous outside information. The combined effect of the deadline and outside information creates incentives for the...

Persistent link: https://www.econbiz.de/10012852559

Information Structure and the Tragedy of the Commons in Resource Extraction

Amir, Rabah - 2007

This paper considers the well-known Levhari-Mirman model of resource extraction, and investigates the effects of the information structure of the dynamic game - open-loop, Markovian or history-dependent - on the equilibrium consumption path and the overall utility of the agents. The open-loop...

Persistent link: https://www.econbiz.de/10012730644

Information and Volatility

Bergemann, Dirk - 2014

In an economy of interacting agents with both idiosyncratic and aggregate shocks, we examine how the information structure determines aggregate volatility. We show that the maximal aggregate volatility is attained in a noise free information structure in which the agents confound idiosyncratic...

Persistent link: https://www.econbiz.de/10013052631

Trading Information

Orlov, Dmitry; Skrzypacz, Andrzej; Zryumov, Pavel - 2022

We analyze a class of dynamic games of information exchange between two players. Each agent possesses information about a binary state that is of interest to the other player and cares about the other player's actions. Preferences are additively separable over own and the other player's actions....

Persistent link: https://www.econbiz.de/10013491561

Information and Volatility

Bergemann, Dirk - 2014

In an economy of interacting agents with both idiosyncratic and aggregate shocks, we examine how the structure of private information in fluences aggregate volatility. The maximal aggregate volatility is attained in a noise free information structure in which the agents confound idiosyncratic...

Persistent link: https://www.econbiz.de/10013061893

The Simple Micro-Economics of Public-Private Partnerships

Iossa, Elisabetta - 2014

consider the eff ect on incentives and risk transfer of bundling building and management stages into a single contract … overruns. We also consider how institutions, and specifi cally the risk of regulatory opportunism, aff ects contract design and …

Persistent link: https://www.econbiz.de/10012708706

The Case for Formalism in Relational Contract

Scott, Robert E. - 2001

The central task in developing a plausible normative theory of contract law is to specify the appropriate role of the … interpreting relational contracts emerges out of this analysis. The contract theory literature suggests that the activist role …, transparent interpretation of explicit contract terms. If, as theory suggests, the state is simply incapable of supplying parties …

Persistent link: https://www.econbiz.de/10014165352

The Threat of Exclusion and Implicit Contracting

Brown, Martin - 2016

an implicit contract is the threat of exclusion: the agent fears that he will lose future income if the principal breaks … lending experiment where the threat of exclusion is exogenously varied. We find that weak exclusion undermines implicit …

Persistent link: https://www.econbiz.de/10012979617

The Threat of Exclusion and Implicit Contracting

Brown, Martin - 2016

an implicit contract is the threat of exclusion: the Agent fears that he will lose future income if the principal breaks … lending experiment where the threat of exclusion is exogenously varied. We find that weak exclusion undermines implicit …

Persistent link: https://www.econbiz.de/10013008818