منابع مشابه
Speed and quality of collective decision making: Imperfect information processing
This paper studies efficient programmed hierarchies as introduced by Radner (1993) in which agents cannot process information perfectly. A group of P identical managers has to make a choice between n alternatives. In order to learn which is the best option, the alternatives have to be compared. The evaluation of an alternative takes time and managers are only able to identify the better one of ...
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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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In practice, manufacturing systems are never perfect and may have low quality outputs. Therefore, different decisions such as reprocessing, sale at lower prices or diminishing are made according to industry and market. This paper investigates the importance of supply chain coordination through developing two models in centralized decision-making for an imperfect quality manufacturing system wit...
متن کاملImperfect Information, Democracy, and Populism∗
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...
متن کاملBiased Beliefs and Imperfect Information
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: Labour
سال: 2005
ISSN: 1121-7081,1467-9914
DOI: 10.1111/j.1467-9914.2005.00329.x