On the efficiency-effects of private (dis-)trust in the government
Dawid H, Deissenberg C (2005)
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION 57(4): 530-550.
Zeitschriftenaufsatz
| Veröffentlicht | Englisch
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Autor*in
Dawid, HerbertUniBi 
;
Deissenberg, C
;
Deissenberg, CEinrichtung
Abstract / Bemerkung
We consider a version of the seminal Kydland-Prescott model where, in each period, some private agents believe the policy announcements made by the government. The other agents follow a standard optimizing strategy. The fraction of agents who believe the government changes over time according to a word-of-mouth learning process. We show that the initial number of believers and the speed of learning can have drastic consequences for the policy followed and the losses experienced by the different agents. In particular, the utility of the private sector may jump upwards if the initial number of believers exceeds a given threshold. (c) 2005 Elsevier B.V. All rights reserved.
Stichworte
dynamic optimization;
Kydland-Prescott model;
Skiba points;
macroeconomic policy-making;
agents;
equilibria;
heterogenous;
multiple;
credibility;
word-of-mouth learning;
reputation;
etace_dynamic_optimization
Erscheinungsjahr
2005
Zeitschriftentitel
JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION
Band
57
Ausgabe
4
Seite(n)
530-550
ISSN
0167-2681
Page URI
https://pub.uni-bielefeld.de/record/1602166
Zitieren
Dawid H, Deissenberg C. On the efficiency-effects of private (dis-)trust in the government. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION. 2005;57(4):530-550.
Dawid, H., & Deissenberg, C. (2005). On the efficiency-effects of private (dis-)trust in the government. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 57(4), 530-550. https://doi.org/10.1016/j.jebo.2005.04.005
Dawid, Herbert, and Deissenberg, C. 2005. “On the efficiency-effects of private (dis-)trust in the government”. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION 57 (4): 530-550.
Dawid, H., and Deissenberg, C. (2005). On the efficiency-effects of private (dis-)trust in the government. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION 57, 530-550.
Dawid, H., & Deissenberg, C., 2005. On the efficiency-effects of private (dis-)trust in the government. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, 57(4), p 530-550.
H. Dawid and C. Deissenberg, “On the efficiency-effects of private (dis-)trust in the government”, JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION, vol. 57, 2005, pp. 530-550.
Dawid, H., Deissenberg, C.: On the efficiency-effects of private (dis-)trust in the government. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION. 57, 530-550 (2005).
Dawid, Herbert, and Deissenberg, C. “On the efficiency-effects of private (dis-)trust in the government”. JOURNAL OF ECONOMIC BEHAVIOR & ORGANIZATION 57.4 (2005): 530-550.
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