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We characterize optimal selling protocols/equilibria of a game in which an Agent first puts hidden effort to acquire information and then transacts with a Firm that uses this information to take a decision. We determine the equilibrium payoffs that maximize incentives to acquire information. Our...
Persistent link: https://www.econbiz.de/10013124333
An Agent who owns information that is potentially valuable to a Firm bargains for its sale, without commitment and certification possibilities, short of disclosing it. We propose a model of gradual persuasion and show how gradualism helps mitigate the hold-up problem (that the Firm would not pay...
Persistent link: https://www.econbiz.de/10013097414
We study a dynamic buyer-seller problem in which the good is information and there are no property rights. The potential buyer is reluctant to pay for information whose value to him is uncertain, but the seller cannot credibly convey its value to the buyer without disclosing the information...
Persistent link: https://www.econbiz.de/10014199658
sector, as well as set wages. Workers engage in both off the job and on the job search. We estimate the model using Brazilian …
Persistent link: https://www.econbiz.de/10013101150
We develop an empirical search-matching model which is suitable for analyzing the wage, employment and welfare impact … wage determination and employment which extends the current literature on equilibrium wage determination with matching and … productivity shocks, long-term contracts, on-the-job search and counter-offers. Importantly, the model allows for the possibility …
Persistent link: https://www.econbiz.de/10013088486