Similar Search Results

A Canonical Model for Interactive Unawareness

Heifetz, Aviad; Meier, Martin; Schipper, Burkhard C. - Volkswirtschaftliche Fakultät, … - 2005

Heifetz, Meier and Schipper (2005) introduced a generalized state-space model that allows for non-trivial unawareness among several individuals and strong properties of knowledge. We show that this generalized state-space model arises naturally if states consist of maximally consistent sets of...

Persistent link: https://www.econbiz.de/10005785792

Unawareness, Beliefs and Games

Heifetz, Aviad; Meier, Martin; Schipper, Burkhard C. - Volkswirtschaftliche Fakultät, … - 2007

We define a generalized state-space model with interactive unawareness and probabilistic beliefs. Such models are desirable for many potential applications of asymmetric unawareness. We develop Bayesian games with unawareness, define equilibrium, and prove existence. We show how equilibria are...

Persistent link: https://www.econbiz.de/10005785816

Interactive Unawareness

Heifetz, Aviad; Meier, Martin; Schipper, Burkhard C. - Volkswirtschaftliche Fakultät, … - 2005

The standard state-spaces of asymmetric information preclude non-trivial forms of unawareness (Modica and Rustichini …

Persistent link: https://www.econbiz.de/10005785823

Information, Coordination, and the Industrialization of Countries

Englmaier, Florian; Reisinger, Markus - Volkswirtschaftliche Fakultät, … - 2006

appropriate information provision enhances efficiency. We discuss extensions of the model and argue that subsidies may be a … property of a signalling equilibrium to overcome credibility problems in information provision. In addition we point out … possible problems with overreaction to public information. Furthermore, we suggest a new focus for development policy. …

Persistent link: https://www.econbiz.de/10005739668

An Experimental study on the information structure in teams

Ludwig, Sandra; Strassmair, Christina - Volkswirtschaftliche Fakultät, … - 2009

to contribute to the team output. We vary the type of information the second mover receives prior to his effort choice …

Persistent link: https://www.econbiz.de/10008528717

Causes, consequences, and cures of myopic loss aversion - An experimental investigation

Fellner, Gerlinde; Sutter, Matthias - Volkswirtschaftliche Fakultät, … - 2005

Myopic loss aversion (MLA) has been established as one prominent explanation for the equity premium puzzle. In this paper we address two issues related to the effects of MLA on risky investment decisions. First, we assess the relative impact of feedback frequency and investment flexibility (via...

Persistent link: https://www.econbiz.de/10005739678

Performance Pay and Risk Aversion

Grund, Christian; Sliwka, Dirk - Volkswirtschaftliche Fakultät, … - 2006

A main prediction of agency theory is the well known risk-incentive trade-off. Incentive contracts should be found in environments with little uncertainty and for agents with low degrees of risk aversion. There is an ongoing debate in the literature about the first trade-off. Due to lack of...

Persistent link: https://www.econbiz.de/10005835229

Imitation - Theory and Experimental Evidence

Apestgeguia, Jose; Huck, Steffen; Oechssler, Jörg - Volkswirtschaftliche Fakultät, … - 2005

laboratory experiment we test the different theories by systematically varying information conditions. We find significant … effects of seemingly innocent changes in information. Moreover, the generalized imitation model predicts the differences …

Persistent link: https://www.econbiz.de/10005785850

For-Profit Search Platforms

Niedermayer, Andras; Shneyerov, Artyom - Volkswirtschaftliche Fakultät, … - 2013

sellers enter in cohorts over time, meet and bargain under private information. The optimal centralized mechanism, which …

Persistent link: https://www.econbiz.de/10011140956

Bargaining and collusion in a regulatory relationship

Fiocco, Raffaele; Gilli, Mario - Volkswirtschaftliche Fakultät, … - 2014

regulator is required to monitor the firmâ€™s costs and reveal its information to a political principal (Congress). In this …

Persistent link: https://www.econbiz.de/10011140957