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One Size Does Not Fit All : The Value of Information and Entry Strategies of Rating Agencies
Chung, Hae Jin; Park, Sojung; Xie, Xiaoying - 2023
This study investigates the production of information by multiple rating agencies when the value of information to buyers is heterogeneous. We modelled that an entrant may coexist with a monopoly incumbent by providing coarser and more economical ratings than the incumbent. Such a strategy can...
Persistent link: https://www.econbiz.de/10014353552
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Efficient entry in competing auctions
Albrecht, James W.; Gautier, Pieter; Vroman, Susan B. - 2013
Persistent link: https://www.econbiz.de/10009754916
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Identifying Price Informativeness
Dávila, Eduardo - 2018
and relative price informativeness in dynamic environments with rich heterogeneity across investors (regarding signals … and non-stationary asset payoffs. We implement our methodology empirically, finding stock-specific measures of price … informativeness for U.S. stocks. We find a right-skewed distribution of price informativeness, measured in the form of the Kalman gain …
Persistent link: https://www.econbiz.de/10012908481
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Pricing Diagnostic Information
Arora, Ashish; Fosfuri, Andrea - 2010
Diagnostic information allows an agent to predict the state of nature about the success of an investment project better than the prior. We analyze the optimal pricing scheme for selling diagnostic information to buyers with different, privately known, ex ante success probability. Investment...
Persistent link: https://www.econbiz.de/10014028467
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Co-movement of Price and Intrinsic Value - Does Accounting Information Matter?
Mehring, Oliver; Olsson, Per; Sievers, Soenke; … - 2021
apply risk measurements based on a) market and b) accounting data. We find that price and value co-move from 1983 to 2014 on … co-movement of price and value. However, conditioning on a co-movement of price and value, more conservatism is helpful …
Persistent link: https://www.econbiz.de/10013245906
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Efficiency vs optimality in procurement
Postl, Peter - 2011
Persistent link: https://www.econbiz.de/10009373877
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Market-based regulation and the informational content of prices
Bond, Philip (contributor); Goldstein, Itay (contributor);  … - 2006
Persistent link: https://www.econbiz.de/10003484202
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Identifying Price Informativeness
Dávila, Eduardo - 2018
and relative price informativeness in dynamic environments with rich heterogeneity across investors (regarding signals … and non-stationary asset payoffs. We implement our methodology empirically, finding stock-specific measures of price … informativeness for U.S. stocks. We find a right-skewed distribution of price informativeness, measured in the form of the Kalman gain …
Persistent link: https://www.econbiz.de/10012480862
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Market-Based Regulation and the Informational Content of Prices
Bond, Philip - 2012
Various laws and policy proposals call for regulators to make use of the information reflected in market prices. We focus on a leading example of such a proposal, namely that bank supervision should make use of the market prices of traded bank securities. We study the theoretical underpinnings...
Persistent link: https://www.econbiz.de/10013096886
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Conditional approval and value-based pricing for new health technologies
Yapar, Ozge; Chick, Stephen E.; Gans, Noah - 2024
Persistent link: https://www.econbiz.de/10014506025