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Kurlat, Pablo D. - 2017

We study competitive equilibrium in a signaling economy with heterogeneously informed buyers. In terms of the classic Spence (1973) model of job market signaling, firms have access to direct but imperfect information about worker types, in addition to observing their education. Firms can be...

Persistent link: https://www.econbiz.de/10012946849

Pricing Advices

Kwon, Suehyun - 2017

This paper studies a selling mechanism where the seller first charges a fee for advice (information structure) then sells a product. When the buyer has no private information, the seller can extract full surplus, both when the seller has private information and when he doesn't. If only the buyer...

Persistent link: https://www.econbiz.de/10012947885

How Informative are the Subjective Density Forecasts of Macroeconomists?

Kenny, Geoff - 2011

In this paper, we propose a framework to evaluate the information content of subjective expert density forecasts using micro data from the ECB's Survey of Professional Forecasters (SPF). A key aspect of our analysis is the use of scoring functions which evaluate the entire predictive densities,...

Persistent link: https://www.econbiz.de/10013117507

Competition between Specialized Candidates

Krasa, Stefan - 2010

We develop a formal model in which the government provides public goods in different policy fields for its citizens. We start from the basic premise that two office-motivated candidates have differential capabilities in different policy fields, and compete by proposing how to allocate government...

Persistent link: https://www.econbiz.de/10013148223

Minority Positions in the German Council of Economic Experts : A Political Economic Analysis

Potrafke, Niklas - 2013

I investigate minority votes in the German Council of Economic Experts. The dataset contains information on the voting … against the majority opinion of the German Council of Economic Experts. This voting pattern indicates that the channel of …

Persistent link: https://www.econbiz.de/10013082622

The Yield Spread Puzzle and the Information Content of SPF Forecasts

Lahiri, Kajal - 2013

While the yield spread has long been recognized as a good predictor of recessions, it seems to have been largely overlooked by professional forecasters. We examine this puzzle, established by Rudebusch and Williams (2009), in a data-rich environment including not just the yield spread but many...

Persistent link: https://www.econbiz.de/10013090002

First Impressions Matter : Signalling as a Source of Policy Dynamics

Hansen, Stephen - 2013

-motivated reputation building may be important for explaining dynamics in experts' policy choices …

Persistent link: https://www.econbiz.de/10013091148

Inside the Crystal Ball : New Approaches to Predicting the Gasoline Price at the Pump

Baumeister, Christiane - 2016

Although there is much interest in the future retail price of gasoline among consumers, industry analysts, and policymakers, it is widely believed that changes in the price of gasoline are essentially unforecastable given publicly available information. We explore several new forecasting...

Persistent link: https://www.econbiz.de/10012996647

Tax Havens, Accounting Experts, and Fee-Setting Rules

Gresik, Thomas A. - 2018

Tax havens differ in the specific tax planning arrangements multinational firms can use to reduce their tax liabilities. Given the complexity and cost associated with identifying the most effective tax haven to use, an accounting firm can act as an intermediary between tax havens and...

Persistent link: https://www.econbiz.de/10012929249

Pro Bono Work and Trust in Expert Fields

Ong, David; Yang, Chun-lei - 2021

aspect of the services of experts (e.g., of doctors, lawyers, and accountants), and the role that voluntary pro bono work … might play. Expert services have unverifiable quality to non-experts and are subject to moral hazard. Experts who cheat … their customers should crowd out experts who do not, resulting in low trust, prestige, and wages. We ask how pro bono work …

Persistent link: https://www.econbiz.de/10013315584