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Keyword: information;

20 results found.

Econometrics Paper

Likelihood corrections for two-way models

Koen Jochmans and Taisuke Otsu

The use of two-way fixed-effect models is widespread. The presence of incidental parameter bias, however, invalidates statistical inference based on the likelihood. In this paper we consider modifications to the (profile...Read more...

19 February 2018

Econometrics Paper

Information theoretic approach to high dimensional multiplicative models: Stochastic discount factor and treatment effect

Taisuke Otsu and Chen Qiu

This paper is concerned with estimation of functionals of a latent weight function that satisfies possibly high dimensional multiplicative moment conditions. Main examples are missing data problems, treatment effects, an...Read more...

4 January 2018

Development Discussion Paper

Motivating Knowledge Agents: Can Incentive Pay Overcome Social Distance?

Erlend Berg, Maitreesh Ghatak, R Manjula, D Rajasekhar and Sanchari Roy

This paper studies the interaction of incentive pay and social distance in the dissemination of information. We analyse theoretically as well as empirically the effect of incentive pay when agents have pro-social objecti...Read more...

1 March 2013

Theoretical Economics Paper

Active Courts and Menu Contracts

Luca Anderlini, Leonardo Felli and Andrew Postlewaite

We describe and analyze a contractual environment that allows a role for an active court. The model we analyze is the same as in Anderlini, Felli, and Postlewaite (2006). An active court can improve on the outcome that t...Read more...

October 2006

Theoretical Economics Paper

SHOULD COURTS ALWAYS ENFORCE WHAT CONTRACTING PARTIES WRITE? This paper replaces TE/2003/464

Luca Anderlini, Leonardo Felli and Andrew Postlewaite

We find an economic rationale for the common sense answer to the question in our title — courts should not always enforce what the contracting parties write. We describe and analyze a contractual environment that allows ...Read more...

October 2006

Political Economy and Public Policy Paper

BEING THE NEW YORK TIMES: THE POLITICAL BEHAVIOUR OF A NEWSPAPER

Riccardo Puglisi

I analyze a dataset of news from the New York Times, from 1946 to 1997. Controlling for the incumbent President's activity across issues, I find that during the presidential campaign the New York Times gives more emphasi...Read more...

April 2006

Political Economy and Public Policy Paper

Information Acquisition, Ideology and Turnout: Theory and Evidence from Britain

Valentino Larcinese

The amount of political information that voters decide to acquire during an electoral campaign depends, among other things, on prior ideological beliefs about parties and/or candidates. Voters that are ex ante indifferen...Read more...

March 2006

DARP Paper

Anti-evasion auditing policy in the presence of common income shocks

Miguel Sanchez

When fairly homogeneous taxpayers are affected by common income shocks, a tax agency’s optimal auditing strategy consists of auditing a low-income declarer with a probability that (weakly) increases with the other taxpay...Read more...

February 2006

DARP Paper

Knowledge-Based Economic Development: Mass Media and the Weightless Economy REVISED MARCH 2009

Sanghamitra Bandyopadhyay

We examine associations of mass media and information and communications technologies (ICT) as knowledge-based infrastructures on some economic development outcomes. We .nd that several mass media and ICT penetration var...Read more...

July 2005

Political Economy and Public Policy Paper

Does Political Knowledge Increase Turnout? Evidence from the 1997 British General Election

Valentino Larcinese

A number of recent formal models predict a positive effect of political knowledge on turnout. Both information acquisition and turnout, however, are likely to be determined by a similar set of variables, rendering hard t...Read more...

February 2005

Theoretical Economics Paper

Should Courts Always Enforce What Contracting Parties Write? This paper is replaced by TE/2006/510

Luca Anderlini, Leonardo Felli and Andrew Postlewaite

We find an economic rationale for the common-sense answer to the question in our title ¿ courts should not always enforce what the contracting parties write. We describe and analyse a contractual environment that allows ...Read more...

November 2003

Theoretical Economics Paper

Investment Timing under Incomplete Information

Jean-Paul Decamps, Thomas Mariotti and Stephane Villeneuve

We study the decision of when to invest in an indivisible project whose value is perfectly observable but driven by a parameter that is unknown to the decision maker ex ante. This problem is equivalent to an optimal stop...Read more...

January 2003

Development Economics Paper

Social Networks and Technology Adoption in Northern Mozambique

Oriana Bandiera and Imran Rasul

Despite their potentially strong impact on poverty, agricultural innovations are often adopted slowly. Using a unique household dataset on sunflower adoption in Mozambique, we analyse whether and how individual adoption ...Read more...

June 2002

Development Economics Paper

Land Distribution, Incentives and the Choice of Production Techniques in Nicaragua

Oriana Bandiera

Does the distribution of land rights affect the choice of contractible techniques? I present evidence suggesting that Nicaraguan farmers are more likely to grow effort-intensive crops on owned rather than on rented plots...Read more...

April 2002

Theoretical Economics Paper

Self-Confidence and Survival

Heski Bar-Isaac

We consider the impact of history on the survival of a monopolist selling single units in discrete time periods, whose quality is learned slowly. If the seller learns her own quality at the same rate as customers, a suff...Read more...

October 2001

Econometrics Paper

Adaptive Varying-Coefficient Linear Models

Zongwu Cai, Jianqin Fan and Qiwei Yao

Varying-coefficient linear models arise from multivariate nonparametric regression, nonlinear time series modelling and forecasting, functional data analysis, longitudinal data analysis, and others. It has been a common ...Read more...

April 2000

Theoretical Economics Paper

A Theory of Supervision with Endogenous Transaction Costs

Antoine Faure-Grimaud, Jean-Jacques Laffont and David Martimort

We propose a theory of supervision with endogenous transaction costs. A principal delegates part of his authority to a supervisor who can acquire soft information about an agent's productivity. If the supervisor were ris...Read more...

July 1998

Theoretical Economics Paper

Epistemic Conditions for Bayesian Nash Equilibrium, and Common Knowledge of Rationality

Ben Polak

We show that, in games of complete information, the Aumann-Brandenburger (1995) sufficient conditions for Nash equilibrium in beliefs also imply common knowledge of rationality. We then consider beliefs held in games of ...Read more...

November 1997

DARP Paper

The Allocation of Benefits underUncertainty: A Decision-Theoretic Framework

Ramses H. Abul Naga

We consider the problem of targeting benefits when the incomes of families are not accurately observable by the public authorities. By income uncertainty it is meant that the decision-maker cannot ascertain an applicant'...Read more...

May 1995

Theoretical Economics Paper

A General Model of Information Sharing in Oligopoly

Michael A. Raith

Under which circumstances do oligopolists have an incentive to share private information about a stochastic demand or stochastic costs? We present a general model which includes virtually all models of the existing liter...Read more...

March 1993