Showing 1 - 10 of 2,379
The main drawback of the public-policy contest is that the notion of contest success function, a crucial component of the contest model, does not have micro-foundations and, therefore, the random behavior of the government seems ad-hoc. In the present paper we propose a partial micro-foundation...
Persistent link: https://www.econbiz.de/10011513996
at the party level is inversely correlated with uncertainty-based measures of electoral competition, suggesting that … movements in long run ENP closer to 2 are an indicator of more rather than less electoral competition. …
Persistent link: https://www.econbiz.de/10012238434
This exercise offers an innovative learning mechanism to model economic agent's decision-making process using a deep … reinforcement learning algorithm. In particular, this AI agent is born in an economic environment with no information on the … adjusting its actions accordingly (i.e., online learning). I illustrate that the economic agent under deep reinforcement …
Persistent link: https://www.econbiz.de/10012603191
We examine whether and how democratic procedures can achieve socially desirable public good provision in the presence of profound uncertainty about the benefits of public goods, i.e., when citizens are able to identify the distribution of benefits only if they aggregate their private...
Persistent link: https://www.econbiz.de/10011444451
The paper investigates social-learning when the information structure is not commonly known. Individuals repeatedly … interact in social-learning settings with distinct information structures. In each round of interaction, they use their … behavior in the long-run if and only if individuals distinguish social-learning settings and receive rich feedback after each …
Persistent link: https://www.econbiz.de/10011434567
demand. The former learning effect, combined with the latter real-options effect, adversely affect firms' entry decisions and …
Persistent link: https://www.econbiz.de/10012258487
We propose that multinational firms learn about their profitability in a particular market by observing their performance in nearby markets. We first develop a model of firm expectations formation with noisy signals from multiple markets and derive predictions on expectations formation and...
Persistent link: https://www.econbiz.de/10012258595
We experimentally study settings where an individual may have an incentive to adopt negative beliefs about another … engaging in "strategic cynicism," convincing themselves of the opponent's ill intentions. We elicit incentivized beliefs both … from players with such an incentive and from neutral third parties with no incentive to bias their beliefs. We find no …
Persistent link: https://www.econbiz.de/10011973976
Many committees - juries, political task forces, etc. - spend time gathering costly information before reaching a decision. We report results from lab experiments focused on such information-collection processes. We consider decisions governed by individuals and groups and compare how voting...
Persistent link: https://www.econbiz.de/10012697146
Do democratically chosen rules lead to more cooperation and, hence, higher efficiency, than imposed rules? To discuss when such a "dividend of democracy" obtains, we review experimental studies in which material incentives remain stacked against cooperation (i.e., free-riding incentives prevail)...
Persistent link: https://www.econbiz.de/10014334071