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Some implications of search and switching costs for the price dynamics of electronic markets

Pereira, Pedro - In: International Journal of the Economics of Business 11 (2004) 3, pp. 303-327

proportion of low search cost consumers increases. …

Persistent link: https://www.econbiz.de/10005437864

Information percolation in segmented markets

Duffie, Darrell; Malamud, Semyon; Manso, Gustavo - In: Journal of Economic Theory 153 (2014) C, pp. 1-32

We study equilibria of dynamic over-the-counter markets in which agents are distinguished by their preferences and information. Over time, agents are privately informed by bids and offers. Investors differ with respect to information quality, including initial information precision, and also in...

Persistent link: https://www.econbiz.de/10011042991

A model of housing and credit cycles with imperfect market knowledge

Kuang, Pei - In: European Economic Review 70 (2014) C, pp. 419-437

The paper presents a model of housing and credit cycles featuring distorted beliefs and comovement and mutual …) development in house prices fuels optimism (pessimism) and credit expansion (contraction), which in turn boost (dampen) housing …

Persistent link: https://www.econbiz.de/10011048561

Self-Control, Moderate Consumption and Craving

Carrillo, Juan D - C.E.P.R. Discussion Papers - 1998

We analyse the consumption strategy of a dynamically inconsistent individual for goods that provide an immediate benefit and a delayed cost. The agent has incomplete information on the cost inherent to each unit of consumption and partially learns this value anytime he consumes. We show that, by...

Persistent link: https://www.econbiz.de/10005504250

Learning and Price Volatility in Duopoly Models of Resource Depletion

Ellison, Martin; Scott, Andrew - C.E.P.R. Discussion Papers - 2009

We introduce learning into a Hotelling model of a non-renewable resource market. By combining learning and scarcity we add significantly to the dynamics implied by learning and substantially enhance the volatility of commodity prices. In our learning model we show how a self confirming...

Persistent link: https://www.econbiz.de/10004973966

On the fragility of sunspot equilibria under learning and evolutionary dynamics

Berardi, Michele - In: Journal of Economic Behavior & Organization 112 (2015) C, pp. 251-265

In this article, we investigate the possibility of sunspot equilibria to emerge from a process of learning and adaptation on agents’ beliefs. We consider both finite state Markov sunspots and sunspots in autoregressive form, and derive conditions for the existence of an heterogeneous...

Persistent link: https://www.econbiz.de/10011263927

Discount Pricing

Armstrong, Mark; Chen, Yongmin - C.E.P.R. Discussion Papers - 2013

options, and there is less incentive to search. We also discuss a behavioral model where the propensity to buy increases when …

Persistent link: https://www.econbiz.de/10011083448

Search Costs, Demand-Side Economies and the Incentives to Merge under Bertrand Competition

Moraga-González, José-Luis; Petrikaite, Vaiva - C.E.P.R. Discussion Papers - 2013

search sequentially for satisfactory deals. In the pre-merger symmetric equilibrium, consumers visit firmsrandomly. However … non-merging stores, and only when they do not find a satisfactory product there they visit the merging firms. As search … products of the constituent firms, which generates sizable search economies. We show that such demand-side economies can confer …

Persistent link: https://www.econbiz.de/10011083482

Stop watching and start listening! The impact of coaching and peer observation in tournaments

Eisenkopf, Gerald; Friehe, Tim - In: Journal of Economic Psychology 45 (2014) C, pp. 56-70

This paper uses experimental data to analyze how competitive behavior is influenced by coaching and peer observation. We study behavior in a sequential contest, considering information about the effort level of subjects in other contests (observation of peers) and information about the...

Persistent link: https://www.econbiz.de/10011117230

Policy experimentation, political competition, and heterogeneous beliefs

Millner, Antony; Ollivier, Hélène; Simon, Leo - In: Journal of Public Economics 120 (2014) C, pp. 84-96

We consider a two period model in which an incumbent political party chooses the level of a current policy variable unilaterally, but faces competition from a political opponent in the future. Both parties care about voters' payoffs, but they have different beliefs about how policy choices will...

Persistent link: https://www.econbiz.de/10011117645