منابع مشابه
Reputation and Imperfect Information
A common observation in the informal literature of economics (and elsewhere) is that in multistage “games,” players may seek early in the game to acquire a reputation for being “tough” or “benevolent” or something else. But this phenomenon is not observed in some formal game-theoretic analyses of finite games, such as Selten’s finitely repeated chain-store game or in the finitely repeated priso...
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Fads models were introduced by Shiller (1984) and Summers (1986) as plausible alternatives to the efficient markets/constant expected returns assumptions. Under these models, logarithms of asset prices embody both a martingale component, with permanent shocks, and a stationary component, with temporary shocks. We study a continuous-time version of these models from both the point of view of inf...
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The modern world is complex and difficult to understand for voters, who may hold beliefs that are at variance with reality. Politicians face incentives to pander to voters’ beliefs to get reelected. We analyze the welfare effects of this pandering and show that it comes along with both costs and benefits. Moreover, we explore optimal constitutional design in the presence of imperfect informatio...
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Biased Beliefs and Imperfect Information We perform an incentivized experiment designed to assess the accuracy of beliefs about characteristics and decisions. Subjects are asked to declare some specific choices and characteristics with different levels of observability from an external point of view, and typically formed through real world experiences. From the less observable mobile phone purc...
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ژورنال
عنوان ژورنال: SSRN Electronic Journal
سال: 2017
ISSN: 1556-5068
DOI: 10.2139/ssrn.2968483