What you see is not always what you get: imperfect information in the job-worker matching process, and its consequences for the attainment of occupational prestige

2021 ◽  
pp. 160-183
Author(s):  
Magnus Bygren
2019 ◽  
Vol 20 (1) ◽  
Author(s):  
Giuseppe Ciccarone ◽  
Francesco Giuli ◽  
Enrico Marchetti

Abstract In this paper we aim to present a novel channel through which the volatility of the monetary/financial sector affects the instability of the real macroeconomic variables originated by self-fulfilling market sentiments. To this aim, we insert some elements of Prospect Theory in the preferences of agents living in an overlapping generations economy where consumers’ heterogeneity and firms’ imperfect information on the level of aggregate demand allow market sentiments to affect the equilibrium path of the economy under rational expectations. In this environment, greater heterogeneity in the household’s narrow framing parameter and in the degree of competition in goods markets favor the emergence of self-fulfilling equilibria by exacerbating the coordination problem generated by a pair-wise matching process taking place in the labor market. Furthermore, the more dispersed are agents’ deviations from standard rationality the higher is the volatility of the economy due to sentiment fluctuations. Finally, a higher volatility of the money/financial market, by increasing the effect of Prospect Theory on households’ choices under risk, increases the noise of the signal upon which firms make their hiring decisions; this, in its turn, generates greater variability in market sentiments and hence in real economic activity.


1988 ◽  
Vol 33 (4) ◽  
pp. 315-315
Author(s):  
Linda S. Gottfredson

2017 ◽  
Author(s):  
Hsin-Ya Liao ◽  
Kwong-Liem K. Kwan ◽  
Nicholas S. Davey

2014 ◽  
pp. 99-122
Author(s):  
M. Levin ◽  
K. Matrosova

The paper considers monitoring of environmental change as the central element of environmental regulation. Monitoring, as each kind of principalagent relations, easily gives rise to corruptive behavior. In the paper we analyze economic models of environmental monitoring with high costs, incomplete information and corruption. These models should be the elements of environmental economics and are needed to create an effective system of nature protection measures.


2005 ◽  
Vol 33 (1) ◽  
pp. 2-17 ◽  
Author(s):  
D. Colbry ◽  
D. Cherba ◽  
J. Luchini

Abstract Commercial databases containing images of tire tread patterns are currently used by product designers, forensic specialists and product application personnel to identify whether a given tread pattern matches an existing tire. Currently, this pattern matching process is almost entirely manual, requiring visual searches of extensive libraries of tire tread patterns. Our work explores a first step toward automating this pattern matching process by building on feature analysis techniques from computer vision and image processing to develop a new method for extracting and classifying features from tire tread patterns and automatically locating candidate matches from a database of existing tread pattern images. Our method begins with a selection of tire tread images obtained from multiple sources (including manufacturers' literature, Web site images, and Tire Guides, Inc.), which are preprocessed and normalized using Two-Dimensional Fast Fourier Transforms (2D-FFT). The results of this preprocessing are feature-rich images that are further analyzed using feature extraction algorithms drawn from research in computer vision. A new, feature extraction algorithm is developed based on the geometry of the 2D-FFT images of the tire. The resulting FFT-based analysis allows independent classification of the tire images along two dimensions, specifically by separating “rib” and “lug” features of the tread pattern. Dimensionality of (0,0) indicates a smooth treaded tire with no pattern; dimensionality of (1,0) and (0,1) are purely rib and lug tires; and dimensionality of (1,1) is an all-season pattern. This analysis technique allows a candidate tire to be classified according to the features of its tread pattern, and other tires with similar features and tread pattern classifications can be automatically retrieved from the database.


2019 ◽  
Author(s):  
Suci Handayani Handayani ◽  
Hade Afriansyah

Decision making is one element of economic value, especially in the era of globalization, and if it is not acceptable in the decision making process, we will be left behind. According to Robins, (2003: 173), Salusu, (2000: 47), and Razik and Swanson, (1995: 476) say that decision making can be interpreted as a process of choosing a number of alternatives, how to act in accordance with concepts, or rules in solving problems to achieve individual or group goals that have been formulated using a number of specific techniques, approaches and methods and achieve optimal levels of acceptance.Decision making in organizations whether a decision is made for a person or group, the nature of the decision is often determined by rules, policies, prescribed, instructions that have been derived or practices that apply. To understand decision making within the organization it is useful to view decision making as part of the overall administrative process. In general, individuals tend to use simple strategies, even if in any complex matter, to get the desired solution, because the solution is limited by imperfect information, time and costs, limited thinking and psychological stress experienced by decision makers.


2012 ◽  
Author(s):  
Kristoffel R. Grechenig ◽  
Sven Fischer ◽  
Nicolas Meier

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