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Author : Francesca Cornelli
Publisher :
ISBN 13 :
Total Pages : 226 pages
Book Rating : 4.:/5 (269 download)
Download or read book Three Essays on the Economics of Imperfect Information written by Francesca Cornelli and published by . This book was released on 1992 with total page 226 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Gilad Tirosh
Publisher :
ISBN 13 :
Total Pages : 142 pages
Book Rating : 4.:/5 (88 download)
Download or read book Three Essays in the Economics of Information written by Gilad Tirosh and published by . This book was released on 2012 with total page 142 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Juri Demuth
Publisher :
ISBN 13 :
Total Pages : 89 pages
Book Rating : 4.:/5 (83 download)
Download or read book Three Essays in Information Economics written by Juri Demuth and published by . This book was released on 2012 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Zvika Neeman
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (342 download)
Download or read book Three Essays in the Economics of Information written by Zvika Neeman and published by . This book was released on 1995 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Parimal Kanti Bag
Publisher :
ISBN 13 :
Total Pages : 216 pages
Book Rating : 4.:/5 (638 download)
Download or read book Three Essays on the Economics of Information written by Parimal Kanti Bag and published by . This book was released on 1993 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Domonique Desruelle
Publisher :
ISBN 13 :
Total Pages : 300 pages
Book Rating : 4.:/5 (779 download)
Download or read book Three Essays on the Economics of Information and Its Applications to Trade Policy written by Domonique Desruelle and published by . This book was released on 1990 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Daniel Martins de Almeida Barreto
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (14 download)
Download or read book Three Essays in the Economics of Information written by Daniel Martins de Almeida Barreto and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This thesis is comprised of three essays in the economics of information. In the first one we analyze the prac-tice of price discrimination from the prism of consumer-data driven market segmentation. We are particularly interested in the consumer-optimal segmentations, and in particular those that benefit poorer consumers the most. We show that once such distributive preferences are considered, optimal segmentations might not co-incide with consumer-optimal segmentations without distributive preferences. In particular, such "redistributive" segmentations might induce some extra profits to the firm. We also provide insights on the general shape of such redistributive segmentations. In the second chapter we study a persuasion problem in which the receiver is a "wishful thinker", meaning that he distorts his beliefs in the direct of more optimistic scenarios. We show how such bias impacts the effec-tiveness of information provision as a tool for inducing certain types of behavior, and illustrate our argument with three applications: information campaigns designed by health agencies, financial reports designed by a financial broker and political information in the context of elections.In the third chapter we study a persuasion problem in which the audience is composed of receivers who per-ceive the information being transmitted with varying degrees of refinement. We characterize the joint distribu-tion of beliefs that a sender can induce in the electorate in such a setting and show that the value that the sender can obtain through persuasion can be retrieved by process of recursive concavification of its indirect utility.
Download or read book ESSAYS IN THE ECONOMICS OF IMPERFECT INFORMATION. written by and published by . This book was released on 1976 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Charl Kengchon
Publisher :
ISBN 13 :
Total Pages : 334 pages
Book Rating : 4.:/5 (89 download)
Download or read book Three Essays on Financial Relationships in Credit Markets with Adverse Selection written by Charl Kengchon and published by . This book was released on 1989 with total page 334 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Chloé Michel
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (989 download)
Download or read book How Do People Perceive Information? written by Chloé Michel and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Jean-Jacques Laffont
Publisher : Harvard University Press
ISBN 13 : 9780674265554
Total Pages : 160 pages
Book Rating : 4.2/5 (655 download)
Download or read book Essays in the Economics of Uncertainty written by Jean-Jacques Laffont and published by Harvard University Press. This book was released on 1980 with total page 160 pages. Available in PDF, EPUB and Kindle. Book excerpt: These three elegant essays develop principles central to the understanding of the diverse ways in which imperfect information affects the distribution of resources, incentives, and the evaluation of economic policy. The first concerns the special role that information plays in the allocation process when it is possible to improve accuracy through private investment. The common practice of hiring "experts" whose information is presumably much better than their clients' is analyzed. Issues of cooperative behavior when potential group members possess diverse pieces of information are addressed. Emphasis is placed on the adaptation of the "core" concept from game theory to the resource allocation model with differential information. The second essay deals with the extent to which agents can influence the random events they face. This is known as moral hazard, and in its presence there is a potential inefficiency in the economic system. Two special models are studied: the role of moral hazard in a monetary economy, and the role of an outside adjudicatory agency that has the power to enforce fines and compensation. The final essay discusses the problem of certainty equivalence in economic policy. Conditions under which a full stochastic optimization can be calculated by solving a related, much simpler "certainty equivalence" problem are developed. The reduction in the complexity of calculation involved is very great compared with the potential loss of efficiency.
Author : Paolo Garella
Publisher :
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4.:/5 (133 download)
Download or read book Two Essays on the Economics of Imperfect Information written by Paolo Garella and published by . This book was released on 1985 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Matthew Robertson
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (141 download)
Download or read book Essays on the Economics of Information written by Matthew Robertson and published by . This book was released on 2018 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In three distinct, yet interrelated, essays I examine the effects of asymmetric information and imperfect information on economic decision makers' incentives and behaviour. To do so I employ, and modify, the methodology of Bayesian games.In chapter one, I analyse an unconventional contest inspired by the real world.In this contest, players are ranked by a scoring rule based on both their realised performance and how close this performance is to a target set before the contest,which is private information. I elucidate and analyse the incentive properties of these rules then characterise the equilibrium behaviour of the players.In chapter two, I integrate aspects from adverse selection and moral hazard models to provide a unied theory of securitisation under asymmetric information.I show that introducing skin in the game increases signalling costs for originators who performed sufficient due-diligence yet still improves incentives by making high effort relatively more likely. I relax the conventional assumption of risk neutrality and show that risk-sharing concerns are sufficient for the aforementioned qualitative properties of equilibrium to hold. Finally, I demonstrate that, depending on the severity of the originator's preference for liquidity or need to share risk, each setting may be more conducive for signalling.In chapter three, I propose a simple and intuitive way to transform canonical signalling games with exogenous types into games in which the informed agent endogenously generates her private information through an unobservable costly effort decision. I provide portable results on the differentiability of action functions and existence of equilibrium. I then apply these results to classic models of security design and the job market to demonstrate the practical usefulness of endogenous effort. In particular, my approach in these applications lends theoretical support to stylised facts that cannot be derived from the standard signalling framework.
Author : John Howard Miller
Publisher :
ISBN 13 :
Total Pages : 97 pages
Book Rating : 4.:/5 (753 download)
Download or read book Two Essays on the Economic of Imperfect Information written by John Howard Miller and published by . This book was released on 1988 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Georges Dionne
Publisher : Springer Science & Business Media
ISBN 13 : 0792392043
Total Pages : 748 pages
Book Rating : 4.7/5 (923 download)
Download or read book Foundations of Insurance Economics written by Georges Dionne and published by Springer Science & Business Media. This book was released on 1992 with total page 748 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic and financial research on insurance markets has undergone dramatic growth since its infancy in the early 1960s. Our main objective in compiling this volume was to achieve a wider dissemination of key papers in this literature. Their significance is highlighted in the introduction, which surveys major areas in insurance economics. While it was not possible to provide comprehensive coverage of insurance economics in this book, these readings provide an essential foundation to those who desire to conduct research and teach in the field. In particular, we hope that this compilation and our introduction will be useful to graduate students and to researchers in economics, finance, and insurance. Our criteria for selecting articles included significance, representativeness, pedagogical value, and our desire to include theoretical and empirical work. While the focus of the applied papers is on property-liability insurance, they illustrate issues, concepts, and methods that are applicable in many areas of insurance. The S. S. Huebner Foundation for Insurance Education at the University of Pennsylvania's Wharton School made this book possible by financing publication costs. We are grateful for this assistance and to J. David Cummins, Executive Director of the Foundation, for his efforts and helpful advice on the contents. We also wish to thank all of the authors and editors who provided permission to reprint articles and our respective institutions for technical and financial support.
Author : Joseph E. Stiglitz
Publisher : MIT Press
ISBN 13 : 9780262012058
Total Pages : 722 pages
Book Rating : 4.0/5 (12 download)
Download or read book Economics for an Imperfect World written by Joseph E. Stiglitz and published by MIT Press. This book was released on 2003 with total page 722 pages. Available in PDF, EPUB and Kindle. Book excerpt: The focus of Joseph Stiglitz's work in economics throughout his long and distinguished career has been on the real world, with all of its imperfections.
Author : Tse-Chun Lin
Publisher : Rozenberg Publishers
ISBN 13 : 9036101514
Total Pages : 146 pages
Book Rating : 4.0/5 (361 download)
Download or read book Three essays on empirical finance written by Tse-Chun Lin and published by Rozenberg Publishers. This book was released on 2009 with total page 146 pages. Available in PDF, EPUB and Kindle. Book excerpt:
