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Legal uncertainty as a welfare enhancing screen
Lang, Matthias - 2016
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011557794
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Sourcing Competition under Cost Uncertainty and Information Asymmetry
Shao, Lusheng - 2019
Driven by increasing costs in the traditionally-regarded low-cost manufacturing bases (e.g., China), many firms have started to outsource their production to the regions of even lower costs (e.g., Southeast Asia). However, a new environment may involve higher cost uncertainty and severer...
Persistent link: https://www.econbiz.de/10012903550
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Does Uncertainty Spread Vertically? A Theory of Multi-Layer Newsvendors under Asymmetric Information
Yang, Jiameng - 2019
Using a vertically related multi-layer newsvendors framework this paper analyzes the impacts of market uncertainties and asymmetric information between firms at successive stages of a supply chain on their optimal stocking (and/or pricing) decisions. The asymmetric information along the supply...
Persistent link: https://www.econbiz.de/10012861175
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Incentive and Screening under Uncertainty : A Model of Cooperation with Randomly Distributed Payoffs
Chen, Jia - 2014
Most of the existing theories of international cooperation implicitly adopted the assumption that defection or cheating are easily detectable, either because the behavior of other actors is directly observable, or the payoffs received by the relevant actors are perfect indicators of past...
Persistent link: https://www.econbiz.de/10013052427
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Information Gaps for Risk and Ambiguity
Golman, Russell - 2015
We apply a model of preferences for information to the domain of decision making under risk and ambiguity. An uncertain … unpleasant to think about, an individual tends to be averse to risk and ambiguity. Yet in circumstances in which thinking about … an information gap is pleasant, an individual may exhibit risk- and ambiguity-seeking. The model provides explanations …
Persistent link: https://www.econbiz.de/10013022819
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Uncertainty and reputation effects in credence goods markets
Schniter, Eric; Tracy, J. Dustin; Zíka, Vojtěch - 2021
Persistent link: https://www.econbiz.de/10012651631
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Regulating global externalitites
Heijmans, Roweno; Gerlagh, Reyer - 2019
Persistent link: https://www.econbiz.de/10011955461
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Sale Timing Under Buyer Valuation Uncertainty : When to Endure Information Disadvantage?
Bhargava, Hemant K.; Chen, Rachel R. - 2016
When buyers are uncertain about product valuations for future consumption, the seller incurs an information disadvantage if it allows consumers to purchase late, after they (privately) learn their true consumption state. Despite this, when customers are heterogeneous, it may be optimal for the...
Persistent link: https://www.econbiz.de/10014224165
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Political/policy uncertainty, corporate disclosure, and information asymmetry*
Lei, Lijun; Luo, Yan - In: Accounting perspectives : a journal of The Canadian … 22 (2023) 1, pp. 87-110
Persistent link: https://www.econbiz.de/10014250823
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Serving consumers in an uncertain world : a credence goods experiment
Balafoutas, Loukas; Fornwagner, Helena; Kerschbamer, Rudolf - 2023 - This version: 3 October 2023
Credence goods markets are prone to fraudulent behavior and market inefficiencies due to informational asymmetries between sellers and customers. We examine experimentally the effects of diagnostic uncertainty and insurance coverage on the information acquisition and provision decisions by...
Persistent link: https://www.econbiz.de/10014391609