We analyze an agency model where one individual decides how much evidence he collects. We assume that he has free access to information, but all the news acquired become automatically public. Conditional on the information disclosed, a second individual with conflicting preferences undertakes an...

Conventional wisdom has it that policy innovation is better promoted in a federal rather than in a unitary system. Recent research, however, has provided theoretical evidence to the contrary: a multi-jurisdictional system is characterized - due to the existence of a horizontal information...

Purpose – The objective of this paper is to examine the framing effects of discount presentation format in comparative price advertising in a low‐price and a high‐price product context. In particular, the authors study whether identical discounts presented in percentage and absolute terms...

Purpose – The objective of this study is to investigate the effect of a strategy map on the quality of decision making. Design/methodology/approach – An experimental design is used in this study. A total of 24 participants were randomly assigned into two groups – a control group and a...

Purpose – The paper emphasises the general relevance of social norms and social associations for cooperative behaviour in less or non-social economic contexts, focusing in particular on economic laboratory experiments, and to illustrate the underlying psychological driving forces....

This paper offers the rationale for presenting a particular type of Phillips curve and develops the dynamic behavior of an economy where such a Phillips curve relation is observed. The specific kind of relation that is explored has similarities with the sticky-information Phillips curve of the...