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Public and private learning from prices, strategic substitutability and complementarity, and equilibrium multiplicity
Manzano, Carolina; Vives, Xavier - 2010
We study a general static noisy rational expectations model, where investors have private information about asset payoffs, with common and private components, and about their own exposure to an aggregate risk factor, and derive conditions for existence and uniqueness (or multiplicity) of...
Persistent link: https://www.econbiz.de/10010270646
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Deceptive Communication
Alempaki, Despoina; Burdea, Valeria; Read, Daniel - 2021
In cases of conflict of interest, people can lie directly about payoff relevant private information, or they can evade the truth without lying directly. We analyse this situation theoretically and test the key predictions in an experimental sender-receiver setting. We find senders prefer to...
Persistent link: https://www.econbiz.de/10013212265
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Behavioral Aspects of Communication in Organizations
Casoria, Fortuna - 2020
This paper reviews experimental studies that investigate the effects of communication on be-havior in organizational … research that tests whether com-munication can help to overcome coordination failure within organizations, and (b) studies that … analyze the role of communication in alleviating problems arising from information asym-metries at the workplace. The evidence …
Persistent link: https://www.econbiz.de/10012839711
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Volunteering and the strategic value of ignorance
Morath, Florian - 2011
Private provision of public goods often takes place as a war of attrition: individuals wait until someone else volunteers and provides the good. After a certain time period, however, one individual may be randomly selected. If the individuals are uncertain about their cost of provision, but can...
Persistent link: https://www.econbiz.de/10010274941
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Learning from Failures : Optimal Contract for Experimentation and Production
Khalil, Fahad - 2019
Before embarking on a project, a principal must often rely on an agent to learn about its profitability. We model this learning as a two-armed bandit problem and highlight the interaction between learning (experimentation) and production. We derive the optimal contract for both experimentation...
Persistent link: https://www.econbiz.de/10012892041
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Spin Doctors : A Model and an Experimental Investigation of Vague Disclosure
Deversi, Marvin - 2018
Unfavorable news are often delivered under the disguise of vagueness. But are people sufficiently naive to be fooled by such positive spin? We use a theoretical model and a laboratory experiment to study the strategic use of vagueness in a voluntary disclosure game. Consider a sender who aims at...
Persistent link: https://www.econbiz.de/10012908648
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Advantageous Selection Without Moral Hazard (with an Application to Life Care Annuities)
De Donder, Philippe; Leroux, M.‐L; Salanié, François - 2022
Advantageous (or propitious) selection occurs when an increase in the premium of an insurance contract induces high-cost agents to quit, thereby reducing the average cost among remaining buyers. Hemenway (1990) and many subsequent contributions motivate its advent by differences in risk-aversion...
Persistent link: https://www.econbiz.de/10014083046
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Communication and Social Preferences : An Experimental Analysis
Cabrales, Antonio; Feri, Francesco; Gottardi, Piero; … - 2021
This paper reports on experiments regarding cheap talk games where senders attempt deception when their interests are not in conflict with those of the receiver. The amount of miscommunication is higher than in previous experimental findings on cheap talk games in situations where senders’ and...
Persistent link: https://www.econbiz.de/10013250032
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Social Preferences, Trust, and Communication when the Truth Hurts
Gehle, Jonathan; von Siemens, Ferdinand A. - 2024
We investigate how heterogeneous social preferences affect the communication of painful information in social …
Persistent link: https://www.econbiz.de/10015047304
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Behavioral Aspects of Communication in Organizations
Casoria, Fortuna; Riedl, Arno; Werner, Peter - 2020
This paper reviews experimental studies that investigate the effects of communication on be-havior in organizational … research that tests whether com-munication can help to overcome coordination failure within organizations, and (b) studies that … analyze the role of communication in alleviating problems arising from information asym-metries at the workplace. The evidence …
Persistent link: https://www.econbiz.de/10012207905