Informational Externalities, Strategic Delay, and the Search for Optimal Policy
Author
Abstract
Suggested Citation
Download full text from publisher
Other versions of this item:
- Matthew Doyle, 2010. "Informational externalities, strategic delay, and optimal investment subsidies," Canadian Journal of Economics, Canadian Economics Association, vol. 43(3), pages 941-966, August.
References listed on IDEAS
- Olivier Gossner & Nicolas Melissas, 2006.
"Informational Cascades Elicit Private Information ,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 47(1), pages 297-325, February.
- Olivier Gossner & Nicholas Melissas, 2003. "Informational cascades elicit private information," Discussion Papers in Economics 03/6, Department of Economics, University of Leicester.
- Olivier Gossner & Nicolas Melissas, 2006. "Informational cascades elicit private information," Post-Print halshs-00754174, HAL.
- Olivier Gossner & Nicolas Melissas, 2004. "Informational Cascades Elicit Private Information," Game Theory and Information 0405007, EconWPA.
- Olivier Gossner & Nicolas Melissas, 2004. "Informational Cascades Elicit Private Information," CIG Working Papers SP II 2004-19, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
- Caplin, Andrew & Leahy, John, 1996. "Monetary Policy as a Process of Search," American Economic Review, American Economic Association, vol. 86(4), pages 689-702, September.
- V. V. Chari & Patrick J. Kehoe, 2003.
"Hot Money,"
Journal of Political Economy,
University of Chicago Press, vol. 111(6), pages 1262-1292, December.
- V. V. Chari & Patrick Kehoe, 1997. "Hot Money," NBER Working Papers 6007, National Bureau of Economic Research, Inc.
- V. V. Chari & Patrick J. Kehoe, 2003. "Hot money," Staff Report 228, Federal Reserve Bank of Minneapolis.
- V. V. Chari & Patrick J. Kehoe, 2003. "Hot Money," Levine's Bibliography 506439000000000415, UCLA Department of Economics.
- Baldwin, Robert E, 1969. "The Case against Infant-Industry Tariff Protection," Journal of Political Economy, University of Chicago Press, vol. 77(3), pages 295-305, May/June.
- Chari, V. V. & Kehoe, Patrick J., 2004.
"Financial crises as herds: overturning the critiques,"
Journal of Economic Theory,
Elsevier, vol. 119(1), pages 128-150, November.
- V. V. Chari & Patrick J. Kehoe, 2003. "Financial crises as herds: overturning the critiques," Staff Report 316, Federal Reserve Bank of Minneapolis.
- V. V. Chari & Patrick J. Kehoe, 2003. "Financial Crises as Herds: Overturning the Critiques," NBER Working Papers 9658, National Bureau of Economic Research, Inc.
- Christophe Chamley, 2003. "Dynamic Speculative Attacks," American Economic Review, American Economic Association, vol. 93(3), pages 603-621, June.
- Chamley, Christophe, 2004. "Delays and equilibria with large and small information in social learning," European Economic Review, Elsevier, vol. 48(3), pages 477-501, June.
- Schivardi, Fabiano, 2003.
"Reallocation and learning over the business cycle,"
European Economic Review,
Elsevier, vol. 47(1), pages 95-111, February.
- Schivardi, F., 1998. "Reallocation and Learning Over the Business Cycle," Papers 345, Banca Italia - Servizio di Studi.
- Fabiano Schivardi, 1998. "Reallocation and Learning over the Business Cycle," Temi di discussione (Economic working papers) 345, Bank of Italy, Economic Research and International Relations Area.
- Bertocchi, Graziella & Spagat, Michael, 1993.
"Learning, experimentation, and monetary policy,"
Journal of Monetary Economics,
Elsevier, vol. 32(1), pages 169-183, August.
- Bertocchi, Graziella & Spagat, Michael, 1991. "Learning, Experimentation and Monetary Policy," Discussion Papers (IRES - Institut de Recherches Economiques et Sociales) 1991018, Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES).
- Lambrecht, Bart & Perraudin, William, 2003. "Real options and preemption under incomplete information," Journal of Economic Dynamics and Control, Elsevier, vol. 27(4), pages 619-643, February.
- Smith, L. & Sorensen, P., 1997.
"Informational Herding and Optimal Experimentation,"
Economics Papers
139, Economics Group, Nuffield College, University of Oxford.
- Lones Smith & Peter Norman Sorensen, 2006. "Informational Herding and Optimal Experimentation," Cowles Foundation Discussion Papers 1552, Cowles Foundation for Research in Economics, Yale University.
- Smith, L. & Sorensen, P., 1997. "Informational Herding and Optimal Experientation," Working papers 97-22, Massachusetts Institute of Technology (MIT), Department of Economics.
- Lones Smith & Peter Norman Sørensen, 2005. "Informational Herding and Optimal Experimentation," Discussion Papers 05-13, University of Copenhagen. Department of Economics.
- Sulganik, Eyal & Zilcha, Itzhak, 1997.
"The value of information: The case of signal-dependent opportunity sets,"
Journal of Economic Dynamics and Control,
Elsevier, vol. 21(10), pages 1615-1625, August.
- Sulganik,E. & Zilcha,I., 1996. "The value of Information: the Case of Signal-Dependent Opportunity Sets," Papers 1-96, Tel Aviv.
- Mason, Robin & Weeds, Helen, 2010. "Investment, uncertainty and pre-emption," International Journal of Industrial Organization, Elsevier, vol. 28(3), pages 278-287, May.
- Hans-Werner Sinn, 1995. "Staggering along: wages policy and investment support in East Germany," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 3(4), pages 403-426, December.
- Bikhchandani, Sushil & Hirshleifer, David & Welch, Ivo, 1992.
"A Theory of Fads, Fashion, Custom, and Cultural Change in Informational Cascades,"
Journal of Political Economy,
University of Chicago Press, vol. 100(5), pages 992-1026, October.
- Sushil Bikhchandani & David Hirshleifer & Ivo Welch, 2010. "A theory of Fads, Fashion, Custom and cultural change as informational Cascades," Levine's Working Paper Archive 1193, David K. Levine.
- Cremer, Jacques, 1982. "A simple proof of Blackwell's "comparison of experiments" theorem," Journal of Economic Theory, Elsevier, vol. 27(2), pages 439-443, August.
- Anderson, Lisa R & Holt, Charles A, 1997. "Information Cascades in the Laboratory," American Economic Review, American Economic Association, vol. 87(5), pages 847-862, December.
- Andrew Caplin & John Leahy, 1993. "Sectoral Shocks, Learning, and Aggregate Fluctuations," Review of Economic Studies, Oxford University Press, vol. 60(4), pages 777-794.
- Christophe Chamley, 2002. "Dynamic Speculative Attacks," Boston University - Department of Economics - The Institute for Economic Development Working Papers Series dp-119, Boston University - Department of Economics.
- Daniel Sgroi, 2000. "Optimizing Information in the Herd," Economics Series Working Papers 2000-W14, University of Oxford, Department of Economics.
- Gordon H. HANSON, 2001. "Should Countries Promote Foreign Direct Investment?," G-24 Discussion Papers 9, United Nations Conference on Trade and Development.
- Caplin, Andrew & Leahy, John, 1994.
"Business as Usual, Market Crashes, and Wisdom after the Fact,"
American Economic Review,
American Economic Association, vol. 84(3), pages 548-565, June.
- Caplin, A. & Leahy, J., 1992. "Business as Usual, Market Crashes, and Wisdom after the Fact," Harvard Institute of Economic Research Working Papers 1594, Harvard - Institute of Economic Research.
- Abhijit V. Banerjee, 1992. "A Simple Model of Herd Behavior," The Quarterly Journal of Economics, Oxford University Press, vol. 107(3), pages 797-817.
- Lawrence Edwards & Phil Alves, 2006. "South Africa'S Export Performance: Determinants Of Export Supply," South African Journal of Economics, Economic Society of South Africa, vol. 74(3), pages 473-500, September.
- V. V. Chari & Patrick J. Kehoe, 2000. "Financial crises as herds," Working Papers 600, Federal Reserve Bank of Minneapolis.
- Jonathan E. Alevy & Michael S. Haigh & John A. List, 2007.
"Information Cascades: Evidence from a Field Experiment with Financial Market Professionals,"
Journal of Finance,
American Finance Association, vol. 62(1), pages 151-180, February.
- Alevy, Jonathan E. & Haigh, Michael S. & List, John A., 2003. "Information Cascades: Evidence From A Field Experiment With Financial Market Professionals," Working Papers 28608, University of Maryland, Department of Agricultural and Resource Economics.
- Jonathan Alevy & Michael Haigh & John List, 2005. "Information cascades: Evidence from a field experiment with financial market professionals," Framed Field Experiments 00116, The Field Experiments Website.
- Chamley, Christophe & Gale, Douglas, 1994.
"Information Revelation and Strategic Delay in a Model of Investment,"
Econometrica,
Econometric Society, vol. 62(5), pages 1065-1085, September.
- Gale, D. & Chamley, C., 1992. "Information Revelation and Strategic Delay in a Model of Investment," Papers 10, Boston University - Department of Economics.
- Bogaçhan Çelen & Shachar Kariv, 2004. "Distinguishing Informational Cascades from Herd Behavior in the Laboratory," American Economic Review, American Economic Association, vol. 94(3), pages 484-498, June.
- V. V. Chari & Patrick J. Kehoe, 2002. "On the robustness of herds," Working Papers 622, Federal Reserve Bank of Minneapolis.
- Gale, Douglas, 1996. "What have we learned from social learning?," European Economic Review, Elsevier, vol. 40(3-5), pages 617-628, April.
- Ricardo Hausmann & Dani Rodrik, 2005. "Self-Discovery in a Development Strategy for El Salvador," ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, ECONOMIA JOURNAL OF THE LATIN AMERICAN AND CARIBBEAN ECONOMIC ASSOCIATION, vol. 0(Fall 2005), pages 43-101, August.
- Rafael Rob, 1991. "Learning and Capacity Expansion under Demand Uncertainty," Review of Economic Studies, Oxford University Press, vol. 58(4), pages 655-675.
- Marcus Noland & Howard Pack, 2003. "Industrial Policy in an Era of Globalization: Lessons from Asia," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 358.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Smith, L. & Sorensen, P., 1997.
"Informational Herding and Optimal Experimentation,"
Economics Papers
139, Economics Group, Nuffield College, University of Oxford.
- Lones Smith & Peter Norman Sorensen, 2006. "Informational Herding and Optimal Experimentation," Cowles Foundation Discussion Papers 1552, Cowles Foundation for Research in Economics, Yale University.
- Smith, L. & Sorensen, P., 1997. "Informational Herding and Optimal Experientation," Working papers 97-22, Massachusetts Institute of Technology (MIT), Department of Economics.
- Lones Smith & Peter Norman Sørensen, 2005. "Informational Herding and Optimal Experimentation," Discussion Papers 05-13, University of Copenhagen. Department of Economics.
- Heidhues, Paul & Melissas, Nicolas, 2012. "Rational exuberance," European Economic Review, Elsevier, vol. 56(6), pages 1220-1240.
More about this item
Keywords
arrangement monotone; functional analysis; market structure; ordinal analysis; simplex; symmetry;JEL classification:
- D20 - Microeconomics - - Production and Organizations - - - General
- D60 - Microeconomics - - Welfare Economics - - - General
- L10 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - General
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:isu:genres:10046. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Curtis Balmer). General contact details of provider: http://edirc.repec.org/data/deiasus.html .
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.