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Truth by consensus: A theoretical and empirical investigation

Camera, Gabriele; Garratt, Rod; Monnet, Cyril - 2024

Truthful reporting about the realization of a publicly observed event cannot be guaranteed by a consensus process. This fact, which we establish theoretically and verify empirically, holds true even if some individuals are compelled to tell the truth, regardless of economic incentives. We...

Persistent link: https://www.econbiz.de/10014540144

Individual Irrationality and Aggregate Outcomes

Fehr, Ernst; Tyran, Jean-Robert - Institut für Schweizerisches Bankwesen <Zürich> - 2005

There is abundant evidence that many individuals violate the rationality assumptions routinely made in economics. However, powerful evidence also indicates that violations of individual rationality do not necessarily refute the aggregate predictions of standard economic models that assume full...

Persistent link: https://www.econbiz.de/10005858769

Joint inference and counterfactual experimentation for impulse response functions by local projections

Jordà, Òscar - 2007

This paper provides three measures of the uncertainty associated to an impulse response path: (1) conditional confidence bands which isolate the uncertainty of individual response coefficients given the temporal path experienced up to that point; (2) response percentile bounds} which provide...

Persistent link: https://www.econbiz.de/10010274338

The Problem of Cooperation and Reputation Based Choice

Bergh, Andreas; Engseld, Peter - 2006

The standard method when analyzing the problem of cooperation using evolutionary game theory is to assume that people are randomly matched against each other in repeated games. In this paper we discuss the implications of allowing agents to have preferences over possible opponents. We model...

Persistent link: https://www.econbiz.de/10013208482

Second Thoughts on Free Riding

Nielsen, Ulrik H.; Tyran, Jean-Robert; Wengström, Erik - 2013

We use the strategy method to classify subjects into cooperator types in a large-scale online Public Goods Game and find that free riders spend more time on making their decisions than conditional cooperators and other cooperator types. This result is robust to reversing the framing of the game...

Persistent link: https://www.econbiz.de/10013208656

Trust among the avatars: A virtual world experiment, with and without textual and visual cues

Atlas, Stephen; Putterman, Louis - 2010

We invited residents of a virtual world who vary in real-world age and occupation to play a trust game with stakes … suggestive text was added to the instructions, or both a photo and text were added. We find high levels of trust and reciprocity … photographic and textual cues influenced the level of trust but not that of trustworthiness. …

Persistent link: https://www.econbiz.de/10010287726

Understanding the development of fundamentalism

Epstein, Gil S.; Gang, Ira N. - 2002

Fundamentalist organizations and the terrorists they spawn do not arise of a vacuum. Combating terrorism requires understanding the principles of groups’ formation, development and growth. We use economic theory to explain the creation and development of fundamentalist groups. In this paper we...

Persistent link: https://www.econbiz.de/10010318337

The political economy of Kosher Wars

Epstein, Gil S.; Gang, Ira N. - 2002

In this paper we develop a theory of â€œKosher Warsâ€ under which Rabbis (certifying authorities) compete to enhance the level of Jewish observation of their congregations. The level of observance can be seen as the Rabbiâ€™s rents. Our rent-seeking model explains the establishment...

Persistent link: https://www.econbiz.de/10010318373

Financial stability: the significance and distinctiveness of Islamic banking in Malaysia

Karwowski, Ewa - 2009

This paper explores the significance of Islamic banking in Malaysia for stability in the country's economy as a whole. Neither conventional theory nor Islamic economics puts forward a systematic explanation of financial intermediation; consequently, neither is capable of identifying...

Persistent link: https://www.econbiz.de/10010266433

Assortative Mating and Divorce: Evidence from Austrian Register Data

Frimmel, Wolfgang; Halla, Martin; Winter-Ebmer, Rudolf - 2009

This paper documents that changes in assortative mating patterns over the last four decades along the dimensions of age, ethnicity, religion and education are not responsible for the increasing marital instability in Austria. Quite the contrary, without the rise in the age at marriage, divorce...

Persistent link: https://www.econbiz.de/10010294910