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Self-Control, Moderate Consumption and Craving

Carrillo, Juan D - C.E.P.R. Discussion Papers - 1998

We analyse the consumption strategy of a dynamically inconsistent individual for goods that provide an immediate benefit and a delayed cost. The agent has incomplete information on the cost inherent to each unit of consumption and partially learns this value anytime he consumes. We show that, by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005504250

Keeping Up With the Joneses: Competition and the Evolution of Collusion in an Oligopolistic Economy

Dixon, Huw David - C.E.P.R. Discussion Papers - 1998

An economy consists of many duopolistic markets. Firms must earn normal profits in the long run if they are to survive. Normal profits are interpreted as the long-run limit of average profits in the whole economy. We adopt the aspiration based model of firm behaviour, and link it to the economy...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005504330

Strategic Experimentation and Disruptive Technological Change

Schivardi, Fabiano; Schneider, Martin - C.E.P.R. Discussion Papers - 2005

. We consider a dynamic game in which firms improve both a new and a rival old technology while learning about the relative …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005504449

The Complexity of Economic Policy: I. Restricted Local Optima in Tax Policy Design

Saint-Paul, Gilles - C.E.P.R. Discussion Papers - 2002

Economists traditionally tackle normative problems by computing optimal policy, ie the one that maximizes a social welfare function. In practice, however, a succession of marginal changes to a limited number of policy instruments are implemented, until no further improvement is feasible. I call...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005504617

Does Market Organization Speed Up Market Stabilization? First Lessons From the Budapest and Warsaw Stock Exchanges

Zalewska, Ania - C.E.P.R. Discussion Papers - 1999

This paper investigates whether different systems of financial market organization influence the way in which newly created stock markets become more (weak-form) efficient. The author conducts a detailed comparative analysis of stocks listed on the Budapest and Warsaw Stock Exchanges, 1991-98,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005497754

Learning to be an Entrepreneur

Guiso, Luigi; Schivardi, Fabiano - C.E.P.R. Discussion Papers - 2005

convincing explanation for clusters of firms than heterogeneous entry costs. The evidence supports the role of learning even … learning mechanism are confirmed by the data. …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005497788

A Theory of Influence: The Strategic Value of Public Ignorance

Brocas, Isabelle; Carrillo, Juan D - C.E.P.R. Discussion Papers - 2005

We analyse 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 becomes automatically public. Conditional on the information disclosed, a second individual with conflicting preferences undertakes...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005497927

Structural Uncertainty and Central Bank Conservatism: The Ignorant Should Keep Their Eyes Shut

Rosal, Joao Mauricio; Spagat, Michael - C.E.P.R. Discussion Papers - 2002

the Phillips curve the less does optimal policy aim towards learning. …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005497983

Learning Temporal Preferences

Miravete, Eugenio J; Palacios-Huerta, Ignacio - C.E.P.R. Discussion Papers - 2002

We analyse households’ responses to an unanticipated change in consumption opportunities and evaluate their implications for the nature and formation of preferences. We study the tariff experiment conducted by South Central Bell where local telephone measured tariffs were introduced for the...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10005498107

Learning and Price Volatility in Duopoly Models of Resource Depletion

Ellison, Martin; Scott, Andrew - C.E.P.R. Discussion Papers - 2009

We introduce learning into a Hotelling model of a non-renewable resource market. By combining learning and scarcity we … add significantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our … learning model we show how a self confirming equilibrium exists but is not constant over time. As scarcity increases the SCE …

Persistent link: https://ebvufind01.dmz1.zbw.eu/10004973966