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作者：Thompson, Peter
作者单位：State University System of Florida; Florida International University
摘要：The quality of a marriage depends on the proximity of a collective action to a unknown target. Individuals receive private signals about the target, and can communicate them only imperfectly to their spouses. Because of imperfect communication, spouses may hold different beliefs about the optimal action. If a couple's beliefs diverge too widely, one or both of them may prefer to dissolve the marriage. The article explores how poor communication contributes to marital unhappiness, as well as it...
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作者：Maeda, Akira
作者单位：Kyoto University
摘要：This article develops a model of optimal lottery design for public financing, on the assumption that economic agents view buying lottery tickets as a form of entertainment. Given that lotteries are optimally designed, it offers two findings: (1) the fundraising potential of a lottery is independent of its type (specifically, of whether it is a fixed-prize type or a pari mutuel); and (2) the ratio of the optimal winning prize amount in each prize class to total lottery sales is equalised to the...
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作者：Etro, Federico
作者单位：University of Milano-Bicocca
摘要：I characterise endogenous market structures where leaders have a first-mover advantage and entry is endogenous. Leaders are always more aggressive than the followers, independently from strategic substitutability or complementarity. Under quantity competition, leaders produce more than any follower and I determine the conditions for entry-deterrence (high substitutability and non-increasing marginal costs). Under price competition, leaders set lower prices than the followers (the opposite than...
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作者：Falkinger, Josef
作者单位：University of Zurich
摘要：This article uses basic facts from the psychology of attention to show how the limited attention of consumers affects economic competition. The article determines endogenously whether an economy is information rich or information poor. A conventional economic equilibrium results if subjects have spare attention capacity. At the positive level, the respective impacts of advances in information technology, international integration and the media on equilibrium diversity and level of attention-se...
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作者：Lothian, James R.; Taylor, Mark P.
作者单位：Fordham University; University of Warwick; Centre for Economic Policy Research - UK
摘要：Using data since 1820 for the US, the UK and France, we test for the presence of real effects on the equilibrium real exchange rate (the Harrod-Balassa-Samuelson, HBS effect) in an explicitly nonlinear framework and allowing for shifts in real exchange rate volatility across nominal regimes. A statistically significant HBS effect for sterling-dollar captures its long-run trend and explains a proportion of variation in changes in the real rate that is proportional to the time horizon of the cha...
