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Anxiety and Performance: An Endogenous Learning-by-doing Model

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  • Michael T. Rauh

    (Department of Business Economics and Public Policy, Indiana University Kelley School of Business)

  • Giulio Seccia

    (Department of Economics, University of Southampton)

Abstract

In this article, we show that a standard economic model, the endogenous learning-by-doing model, captures several major themes from the anxiety literature in psychology. In our model, anxiety is a fully endogenous construct that can be separated naturally into its cognitive and physiological components. As such, our results are directly comparable with hypotheses and evidence from psychology. We show that anxiety can serve a motivating function, which suggests potential applications in the principal-agent literature.

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File URL: http://www.bus.indiana.edu/riharbau/RePEc/iuk/wpaper/bepp2005-01-rauh-seccia.pdf
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Bibliographic Info

Paper provided by Indiana University, Kelley School of Business, Department of Business Economics and Public Policy in its series Working Papers with number 2005-01.

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Date of creation: 2005
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Publication status: Published in International Economic Review, 2006
Handle: RePEc:iuk:wpaper:2005-01

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Keywords: Diamond Paradox; price dispersion; search; strategic complementarities;

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References

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  1. Amparo Urbano Salvador & Larry Samuelson & Leonard J. Mirman, 1990. "Monopoly experimentation," Working Papers. Serie AD 1990-04, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Mirman, Leonard J & Samuelson, Larry & Urbano, Amparo, 1993. "Monopoly Experimentation," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 34(3), pages 549-63, August.
  2. Rauh, Michael T. & Seccia, Giulio, 2005. "Experimentation, full revelation, and the monotone likelihood ratio property," Journal of Economic Behavior & Organization, Elsevier, vol. 56(2), pages 239-262, February.
  3. Grossman, Sanford J & Kihlstrom, Richard E & Mirman, Leonard J, 1977. "A Bayesian Approach to the Production of Information and Learning by Doing," Review of Economic Studies, Wiley Blackwell, vol. 44(3), pages 533-47, October.
  4. Sanford Grossman & Oliver Hart, . "An Analysis of the Principal-Agent Problem," Rodney L. White Center for Financial Research Working Papers 15-80, Wharton School Rodney L. White Center for Financial Research.
  5. Loewenstein, George, 1987. "Anticipation and the Valuation of Delayed Consumption," Economic Journal, Royal Economic Society, vol. 97(387), pages 666-84, September.
  6. Prescott, Edward C, 1972. "The Multi-Period Control Problem Under Uncertainty," Econometrica, Econometric Society, vol. 40(6), pages 1043-58, November.
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Cited by:
  1. Jose Apesteguia & Ignacio Palacios-Huerta, 2008. "Psychological pressure in competitive environments: Evidence from a randomized natural experiment," Economics Working Papers 1116, Department of Economics and Business, Universitat Pompeu Fabra.
  2. Rick Harbaugh, 2005. "Prospect Theory or Skill Signaling?," Working Papers 2005-06, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  3. Michael T. Rauh & Giulio Seccia, 2006. "Agency and Anxiety," Working Papers 2006-02, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
  4. Michael T. Rauh & Giulio Seccia, 2005. "Incentives, Monitoring, and Motivation," Game Theory and Information 0506008, EconWPA.

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