Showing 1 - 10 of 10
Persistent link: https://www.econbiz.de/10010257925
We study signaling environments with two features that are common in practice: first, complete-information bliss points are heterogeneous across different types of senders; second, receivers observe many choices by each sender, rather than a single decision. We prove that, ironically, a...
Persistent link: https://www.econbiz.de/10012947862
I first provide a static model of associative memory, a mnemonic process wherein cues in the environment bias information recalled from memory. I apply the model in a principal-agent setting to analyze contradictory predictions for the relationship between employee morale and productivity from...
Persistent link: https://www.econbiz.de/10012948268
Substantial price variation for homogeneous goods in online markets is a well-known puzzle that has withstood attempts by empirical researchers to explain it. Economic theory suggests two possible sources of the dispersion: either market frictions are more important than previously thought, or...
Persistent link: https://www.econbiz.de/10012948284
Private-order market institutions founded on trust-based relational contracts suffer adverse selection and moral hazard problems, while public-order market institutions have a limited capacity to enforce contracts. I model agent selection between contract enforcement institutions and demonstrate...
Persistent link: https://www.econbiz.de/10012948285
We study a structural model of college admissions framed as a contest between a continuum of students for enrollment in a continuum of colleges where the contest outcome is decided by the students' choice of human capital (HC). Students have private information about their learning costs, and...
Persistent link: https://www.econbiz.de/10012951191
We provide a model of a decentralized, dynamic auction market platform (e.g., eBay) in which a large number of buyers and sellers participate in simultaneous, single-unit auctions each period. Our model accounts for the endogenous entry of agents and the impact of intertemporal optimization on...
Persistent link: https://www.econbiz.de/10012983067
Persistent link: https://www.econbiz.de/10012052105
We present a theory that rationalizes voters' preferences for decisive leaders. Greater decisiveness entails an inclination to reach decisions more quickly conditional on fixed information. Although speed can be good or bad, agency problems between voters and politicians create preferences among...
Persistent link: https://www.econbiz.de/10012901436
We develop a model of college assignment as a large contest wherein students with heterogeneous abilities compete for seats at vertically differentiated colleges through the acquisition of productive human capital. We use a continuum model to approximate the outcomes of a game with large, but...
Persistent link: https://www.econbiz.de/10012977685