Similar Search Results

Shrouded Attributes and the Curse of Educatoin

Laibson, David; Gabaix, Xavier - Society for Economic Dynamics - SED - 2004

Some consumers fail to observe shrouded product attributes when they buy a new product. For example, an account holder may not know their bank's fee schedule. Firms will choose high shrouded fees and compete to attract consumers with loss-leader base goods: e.g., banks will offer free gifts for...

Persistent link: https://www.econbiz.de/10005027277

Epiphany: A Search Theoretic Approach to Modelling Boundedly Rational Agents

Maenner, Eliot; Laing, Derek - Society for Economic Dynamics - SED - 2004

In this paper we use search theory to model the decision making process of boundedly rational agents. In the canonical … (sequential) search approach, each decision maker is deemed to acquire new information, at random intervals of time, regarding the … stopping rule in which the search process terminates as soon as information is revealed that indicates that the agent's payoff …

Persistent link: https://www.econbiz.de/10005069492

A Matching Model of the Housing Market: Searching for a Motivated Partner

Albrecht, James; Anderson, Axel - Society for Economic Dynamics - SED - 2004

We construct a bilateral search model of the housing market in which agents differ in their flow rewards while …

Persistent link: https://www.econbiz.de/10004970343

Producing the Right Pond: Colleges as Network Creators

Makler, Christopher R. - Society for Economic Dynamics - SED - 2004

In many economic contexts, especially signaling and search models, agents care about the distribution of other agents … demand for fellow customers from signaling and search microfoundations. The model offers predictions of how various proposed …

Persistent link: https://www.econbiz.de/10005051405

Prices, Information and Learning

Shevchenko, Andrei; Araujo, Luis - Society for Economic Dynamics - SED - 2004

We consider an economy where trade is decentralized and agents have incomplete information with respect to the value of money. Agents' learning evolves from private experiences and we explore how the formation of prices interacts with learning. We show that multiple equilibria arise, and...

Persistent link: https://www.econbiz.de/10005051429

Simultaneous Search

Smith, Lones; Chade, Hector - Society for Economic Dynamics - SED - 2004

We introduce and solve a new class of static portfolio choice problems, where only the best realized alternative matters. A decision maker must simultaneously choose among independent ranked options, and the better alternatives have a lower chance of panning out. Each choice is costly, and just...

Persistent link: https://www.econbiz.de/10005051431

Unawareness

Li, Jing - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10004970335

Financial Contagion and Attention Allocation

Mondria, Jordi - Society for Economic Dynamics - SED - 2006

This paper explains financial contagion between two independent stock markets by fluctuations in international investors' attention allocation. I model the process of attention allocation that underlies portfolio investment in international markets using rationally inattentive agents. Investors...

Persistent link: https://www.econbiz.de/10005090787

quantifying the inefficiency of the US social insurance system

Huggett, Mark; Parra, Jaun Carlos - Society for Economic Dynamics - SED - 2006

How far is the US social insurance system from an efficient system? We answer this question within a model where agents receive idiosyncratic, labor-productivity shocks that are privately observed. When social security and income taxation comprise the social insurance system, the maximum...

Persistent link: https://www.econbiz.de/10005051256

Informal Insurance in Social Networks

Bloch, Francis; Genicot, Garance - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005051353

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