We build a workable game of common-property resource extraction under rational Bayesian learning about the renewal prospects of a resource. We uncover the impact of exogenously shifting the prior beliefs of each player on the response functions of others. What we find about the role of...

The decision process of an investor who must screen information of varying quality in a stock market with heterogeneous investors leads to new dimensions to consider in the risk-return space. More volatile forecast errors make it more difficult to properly form expectations from forecasts....

This paper aims to defend the importance of the information and persuasion in financial markets. The conviction relates to the developments of Argumentation Theory (AT). Understand that economic agents react according to the information they have, and that beliefs play an important role because...

Information sources, creation of informant networks and labors of local intelligence have become very important goals in political power calculations of the paramilitary and insurgents. Phenomena of information and rumor can disclose central aspects to understand the direction of events yet to...

We generalize the "No-trade" theorem for finite unawareness belief structures in Heifetz, Meier, and Schipper (2009) to the infinite case.

This paper studies empirically how uncertainty affects speculation in the foreign exchange markets. We use the dispersion of survey forecasts of key macroeconomic variables to measure uncertainty about fundamentals. We find that uncertainty has a non-monotone effect on exchange rate pressures:...

In their recent work Thomas S. Schelling (2007, 2010), reiterating original arguments about game theory and its applications to social sciences. In particular, game theory helps to explore situations in which agents make decisions interdependent (strategic communication). Schelling's originality...

The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...

The main objective of this paper is to present a reading of The Arcades Project by Walter Benjamin in the context of the financial crisis, in particular, reflect from a few fragments of Benjamin's work appear to lie around a Black Swan. The recovery of the fragments of The Arcades seems...

In supply chain management, information about the downstream party's willingness to pay (wtp) for a service or a good sold by an upstream party may not be known to the latter. The seller has to make an educated guess for the price at which to offer a good or service. If the buyer refuses to buy,...