Knowledge and rationality will determine the extent to which people will speculate. Incomplete knowledge is usually used as a basis for decision making in which rational agents decide what is common knowledge and acts accordingly. On presuming some things as common knowledge reposes some logical puzzles in economic theory regarding choices, risk-taking and speculation.
Publication Name: Journal of Economic Perspectives
Integration, organizational processes, and allocation of resources
The adverse effects of integration on the firm's decision related to the allocation of capital resources are analyzed. It is observed that the managers tend to exaggerate the likely returns to obtain the resource allocations.
Publication Name: Journal of Financial Economics
Judgment aggregation: (im)possibility theorems
Usage of impossibility theorems for judgement aggregation, to analyze collective inconsistency of judgements through logical manipulation of data, is discussed.
Publication Name: Journal of Economic Theory
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