منابع مشابه
The Informational Value of Incumbency
This paper proposes an argument that explains incumbency advantage without recurring to the collective irresponsibility of legislatures. For that purpose, we exploit the informational value of incumbency: incumbency confers voters information about governing politicians not available from challengers. Because there are many reasons for high reelection rates di¤erent from incumbency status, we p...
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*Thanks are due to Hans Rott and Maurice Pagnucco who have commented on the July draft of this essay and who subsequently sent me a draft of their ideas on contraction. I have sought here to explain how I came to change my mind and favor mild contractions (or severe withdrawals as Rott and Pagnucco call such contractions) and to indicate some of the relations between the approach of Rott and Pa...
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Social tagging is a new way to share and categorize online content that enables users to express their thoughts, perceptions, and feelings with respect to diverse concepts. In social tagging, content is connected through usergenerated keywords—“tags”—and is readily searchable through these tags. The rich associative information that social tagging provides marketers new opportunities to infer b...
متن کاملThe Informational Value of Corporate Credit Ratings
This paper examines the quality of credit ratings issued by the three major credit rating agencies Moody’s, Standard and Poor’s and Fitch. If credit ratings are informative, then prices of underlying credit instruments such as fixed-income securities and credit default insurance should change to reflect the new credit risk information. Using data on 246 different major fixed-income securities i...
متن کاملThe informational value of sequential fundraising
This paper examines a puzzling inconsistency between the theoretical prediction of private provisions to public goods and actual fundraising behavior. While fundraisers often choose to announce past contributions, economic theory predicts that contributions will be largest when donors are uninformed of the contributions made by others. This paper suggests that an announcement strategy may be op...
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ژورنال
عنوان ژورنال: Journal of Public Economic Theory
سال: 2009
ISSN: 1097-3923,1467-9779
DOI: 10.1111/j.1467-9779.2009.01429.x