How do people think about fairness in settings with uncertainty? One view holds that fairness requires equality of opportunity; another holds that it requires equality of outcomes. Relative to the resolution of uncertainty, the first view takes an ex ante perspective, while the second takes an ex post perspective. In this paper, we conduct a laboratory experiment designed to determine which per...

Diagnostic information helps agents to make more accurate decisions. One such decision is about investing in projects with uncertain outcomes. The value of diagnostic information is the difference in expected payoffs with and without it, and we show that such a value is non-monotonic in the ex-ante expected value of the project to be undertaken. We analyze optimal pricing schemes for selling in...

The co-existence of conventional and transgenic products in the food chain introduces new elements in the evaluation of the profitability of transgenic crops and, consequently, on the farmer’s adoption decision. In particular, one emerging problem farmers are facing in Europe is related to the legal liability of transgenic-crop cultivation. In Europe, a mixture of ex-ante regulations and ex-pos...

Information security controls can help reduce the probability of a breach, but cannot guarantee that one will not occur. In order to reduce the costs of data breaches, firms are faced with competing alternatives. Investments in ex ante security measures can help prevent a breach, but this is costly and may be inefficient; ex post mitigation efforts can help reduce losses following a breach, but...

INTRODUCTION Kenya records a high maternal mortality ratio 362 maternal deaths per 100 000 live births. Tharaka Sub County has poor transport infrastructure, low levels of socio-economic status and long distances to health facilities. Secondary to these factors, delivering in a health facility is a challenge. Delivering in a health facility is one of the strategies to avert maternal death throu...

Ahrrwx-The informational content of ditlercnt forecasts can be compared by regressing the actual change in a variable to be forecasted on forecasts of the change. We we the procedure in Fair and Shikr (1987) to examine the informational content of three sets of ex ante forecasts: the American Statist&i Association and National Bureau of Economic Research Survey (ASP.). Data Resources Incorporat...

glucose thlirapy is call(ed forIt' rar l ese \IIIvt'lee these measures fail, abortioni hias to he iln(luce(l. Ana.stlhsia is e1-r (lamngerous in these cases. (Gas and oxygen sihouldl be chloseln. Results of Treabtne ii t .-Ou)t of 790 patientIs admitted to III \ wards at the Ri)va Maternity HIospital from ulgust, 1988, till tI e end of 198-, tliirteen] cases were admitte(d as hlypercmesis. Of t...

We find that the true ex ante equity premium very likely lies within 50 basis points of 3.5%. This estimate is similar to values obtained in some recent studies but is considerably more precise. In addition to narrowing the range of plausible ex ante equity premia, we also find that equity premium models that allow for time-variation, breaks, and/or trends are the models that best match the exp...

A strong correlated equilibrium is a strategy pro le that is immune to joint deviations. Di erent notions of strong correlated equilibria were de ned in the literature. One major di erence among those de nitions is the stage in which coalitions can plan a joint deviation: before (ex-ante) or after (ex-post) the deviating players receive their part of the correlated pro le. In this paper we prov...

1 We consider a general mechanism design setting where each agent can acquire (covert) information before participating in the mechanism. The central question is whether a mechanism exists that provides the efficient incentives for information acquisition ex-ante and implements the efficient allocation conditional on the private information ex-post. It is shown that in every private value envir...