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Transparency of Information and Coordination in Economies with Investment Complementarities

Angeletos, Marios - 2011

transparency is optimal. This is because more transparency facilitates more effective coordination, which is valuable from a social … ambiguity becomes optimal if there is a high risk that more transparency will lead to coordination failures …

Persistent link: https://www.econbiz.de/10013124660

Information Dynamics and Equilibrium Multiplicity in Global Games of Regime Change

Angeletos, Marios; Hellwig, Christian; Pavan, Alessandro - 2021

Global games of regime change -- that is, coordination games of incomplete information in which a status quo is …

Persistent link: https://www.econbiz.de/10013216888

Decentralization, Communication, and the Origins of Fluctuations

Angeletos, Marios - 2011

because decentralized trading impedes communication and, in so doing, opens the door to self-fulfilling beliefs despite the … uniqueness of the equilibrium. In line with Keynesian thinking, these fluctuations may be attributed to "coordination failures …

Persistent link: https://www.econbiz.de/10013124854

Cheap Talk and Coordination in the Lab and in the Field : Collective Commercialization in Senegal

Aflagah, Fo Kodjo Dzinyefa - 2020

Coordination is central to social interactions. Theory and conventional lab experiments suggest that cheap talk/communication … talk/communication) yields enhanced collective commercialization (i.e., coordination), particularly in larger groups; (2 … can enhance coordination under certain conditions. Two aspects that remain underexplored are (1) the interaction between …

Persistent link: https://www.econbiz.de/10012840413

What Makes a Price Fair? An Experimental Analysis of Transaction Experience and Endogenous Fairness Views

Herz, Holger - 2016

People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of...

Persistent link: https://www.econbiz.de/10012981613

Competition and the Ratchet Effect

Charness, Gary - 2010

In labor markets, the ratchet effect refers to a situation where workers subject to performance pay choose to restrict their output, because they rationally anticipate that firms will respond to higher output levels by raising output requirements or cutting pay. We model this effect as a...

Persistent link: https://www.econbiz.de/10013138400

Expectations-Based Loss Aversion May Help Explain Seemingly Dominated Choices in Strategy-Proof Mechanisms

Dreyfuss, Bnaya - 2019

Deferred Acceptance (DA), a widely implemented algorithm, is meant to improve allocations: under classical preferences, it induces preference-concordant rankings. However, recent evidence shows that—in both real, large-stakes applications and experiments—participants frequently play...

Persistent link: https://www.econbiz.de/10012860839

Contracts as Reference Points - Experimental Evidence

Fehr, Ernst - 2010

consistent with established behavioral concepts, they cannot easily be explained by existing theories. The experiment appears to …

Persistent link: https://www.econbiz.de/10012758135

Are Structural Estimates of Auction Models Reasonable? Evidence from Experimental Data

Bajari, Patrick L.; Hortaçsu, Ali - 2022

Recently, economists have developed methods for structural estimation of auction models. Many researchers object to these methods because they find the rationality assumptions used in these models to be implausible. In this paper, we explore whether structural auction models can generate...

Persistent link: https://www.econbiz.de/10013309205

Choice Screen Auctions

Ostrovsky, Michael - 2022

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google's Android platform instead of being automatically defaulted to Google's own search engine. I show that a seemingly minor detail in the design of these...

Persistent link: https://www.econbiz.de/10014090768