We consider the credibility, persuasiveness, and informativeness of multidimensional cheap talk by an expert to a decision maker. We find that an expert with state-independent preferences can always make credible comparative statements that trade off the expert’s incentive to exaggerate on each dimension. Such communication benefits the expert – cheap talk is “persuasive” – if her preferences a...

This special report synthesizes the findings of a Health Care Financing Administration grant which allowed the author to analyze hospital finance in six foreign countries and in the United States. The author identified the principal problems facing hospital owners, carriers, and governments in the United States, and he conducted lengthy field work abroad to learn how each country dealt with the...

today, by increasing use of mobile services, mobile advertising is considered as one of the most important and influential marketing activities. in this regard, advertising activities need to focus on customers and their needs, tendencies and complete advertising admission process by providing value-added services.the aim of this study is to analyze the impact of marketing communications / medi...

challenges to physicians – those with specific business interests as well as those whose sole focus is patient care. Understanding the law and knowing which, if any, of the many Stark exceptions apply to your arrangement is essential. Part I of this series explained the purpose of the Stark statute, how it differs from the anti-kickback statute and how you can determine whether it applies to ...

It is commonly believed that prices in secondary financial markets play an important allocational role because they contain information that facilitates the efficient allocation of resources. This paper identifies a limitation inherent in this role of prices. It shows that the presence of a feedback effect from the financial market to the real value of a firm creates an incentive for an uninfor...

This paper analyzes a dynamic moral-hazard model where a principal searches for an opportunity of uncertain return, and hires an agent to evaluate potential options that arrive stochastically over time. The agent’s effort affects the informativeness of a signal about an option’s return. Based on the information provided by the agent, the principal decides whether or not to exercise an option at...

The first case is usually referred to as omissive and the second as commissive. What is traditionally perceived as paradoxical is that although such statements may well be true, asserting them is clearly absurd. An account of Moore’s Paradox is an explanation of the absurdity. In the last twenty years, there has also been a focus on the incoherence of judging or believing such propositions. In ...

In this paper we examine the role that compositional mechanisms and lexical semantics play in the determination of informativeness at the phrasal and clausal level. While the computation of the “relevance” of an utterance is largely determined by pragmatic factors (such as quantity), we argue that phrasal informativeness can, in many cases, be computed compositionally and independently of pragm...