We study signaling in dynamic contests with heterogeneous players. A privately-informed challenger faces a sequence of rivals of known types. The type of future rivals determines which signal the challenger wants to produce, whereas the strategic response of current rivals determines the extent...

: The aim of the article is to provide the proof for use of trits in coding of the signal for Ternary processors The author substantiates the aforementioned use by formula and properties of Ternary Algebra In order to do so an analysis of the incoming signal is done and the wave is presented in...

Do letter grades in introductory courses affect students’ choice of major; if so, why and what are the consequences on labor market outcomes? We focus on social science and humanities students at the National University of Singapore, who are required to take introductory courses in multiple...

We study the impact of access regulation in a telecommunications market on an entrant's decision whether to invest in a network or ask for access when the regulator cannot observe its potential demand. Since the entrant has incentives to not compete vigorously right after entry in order to...

I analyze a simple model of hold-up with asymmetric information at the contracting stage. I show that contractual signalling and efficiency of investment can conflict if only quantity is contractible. This is because contracted quantity encourages investment in the relationship but also signals...

This study generates out-of-sample predictions from training data to construct investment portfolios that are mean-variance optimized and rebalanced daily to assess gains from incorporating signals based on post-earnings announcement drift (PEAD), the earnings announcement premium (EAP), and...

Despite the general closure of gender disparities in the labor market over the past half century, occupational segregation has been stubbornly persistent. I develop a new model that explains these occupational outcomes through marriage market signaling. Vertically differentiated men have...

We investigate how an informed designer maximizes her objective when facinga player whose payoff depends on both the designer's private information andon an unknown state within the classical quasilinear environment. Thedesigner can disclose arbitrary information about the state via...

In this paper, we identify a general class of monotonic signaling games in which there are multiple pooling equilibria, but one of them is more plausible than others. In this class of games, we develop a new refinement, the passive equilibrium, which selects only the most plausible equilibrium...

This paper investigates how the communicated degree of fiscal policy accommodation (DFPA) of the European Central Bank (ECB) affects the macroeconomy of the euro area as well as how it interacts with government bond surprises. I use a text mining approach to quantify DFPA and local projections...