| 来源类型 | Discussion paper
|
| 规范类型 | 论文
|
| 来源ID | DP6893
|
| DP6893 Time-Varying Incentives in the Mutual Fund Industry |
| Jacques Olivier; Anthony Tay
|
| 发表日期 | 2008-06-27
|
| 出版年 | 2008
|
| 语种 | 英语
|
| 摘要 | This paper analyzes the effects of network positions and individual risk attitudes on individuals' strategic decisions in an experiment where actions are strategic substitutes. The game theoretic basis for our experiment is the model of Bramoullé and Kranton (2007). In particular, we are interested in disentangling the influence of global, local and individual factors. We study subjects' strategic investment decisions in four basic network structures. As predicted, we find that global factors, such as the regularity of the network structure, influence behavior. However, we also find evidence that individual play in networks is to some extent boundedly rational, in the sense that coordination is influenced by local and individual factors, such as the number of (direct) neighbors, local clustering and individuals' risk attitudes. |
| 主题 | Industrial Organization
|
| 关键词 | Coordination
Experiment
Risk aversion
Social Networks
Strategic substitutes
|
| URL | https://cepr.org/publications/dp6893
|
| 来源智库 | Centre for Economic Policy Research (United Kingdom)
|
| 资源类型 | 智库出版物
|
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/535729
|
推荐引用方式
GB/T 7714 |
Jacques Olivier,Anthony Tay. DP6893 Time-Varying Incentives in the Mutual Fund Industry. 2008.
|
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