The Helsinki GSE Discussion Paper series is available on EconStor. EconStor is an open access server that provides a platform for the free distribution of academic literature in economics.
People often draw inferences from sequences of past performance, sometimes perceiving patterns even in random outcomes. This has fueled debates regarding phenomena such as the hot hand and gambler’s …
Discussion paper
We build a simple formal model of governance. Investments and control rights over assets and labor are fully contractible, but final production decisions are ex ante uncontractible, and ex post …
Discussion paper
This paper considers average inflation targeting (AIT) policy in a New Keynesian model with adaptive learning agents. Our analysis raises concerns regarding robustness of AIT when agents have …
Discussion paper