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Gilbert, Richard; Klemperer, Paul - C.E.P.R. Discussion Papers - 1993

Setting a price that results in rationing may be optimal for a seller whose customers must make a specific investment … to be able to use his product. Although rationing results in <MI>ex post<D> inefficiency, the resulting distribution of … higher profits than with market-clearing prices. Committing to a single price, and rationing if there is excess demand, can …

Persistent link: https://www.econbiz.de/10005788950

Price Controls and Consumer Surplus

Bulow, Jeremy I.; Klemperer, Paul - C.E.P.R. Discussion Papers - 2009

The condition for when a price control increases consumer welfare in perfect competition is tighter than often realised. When demand is linear, a small restriction on price only increases consumer surplus if the elasticity of demand exceeds the elasticity of supply; with log-linear or...

Persistent link: https://www.econbiz.de/10004976788

Chapter 13. The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry

Courty, Pascal; Pagliero, Mario - In: Handbook of the economics of art and culture : volume 2, (pp. 299-356). 2014

We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination, and in the probability of their concerts selling out. Most strikingly, artists who use multiple seating categories are more...

Persistent link: https://www.econbiz.de/10014025401

Market and non-market mechanisms for the optimal allocation of scarce resources

Condorelli, Daniele - In: Games and Economic Behavior 82 (2013) C, pp. 582-591

A number of identical objects is allocated to a set of privately informed agents. Agents have linear utility in money. The designer wants to assign objects to agents that possess specific traits, but the allocation can only be conditioned on the willingness to pay and on observable...

Persistent link: https://www.econbiz.de/10010719488

The Pricing of Art and the Art of Pricing: Pricing Styles in the Concert Industry

Courty, Pascal; Pagliero, Mario - C.E.P.R. Discussion Papers - 2012

We document the existence of pricing styles in the concert industry. Artists differ in the extent to which they rely on second- and third-degree price discrimination and in how likely they are to sell out concerts. Most strikingly, artists who use multiple seating categories are more likely to...

Persistent link: https://www.econbiz.de/10011084535

Resolving persistent uncertainty by self-organized consensus to mitigate market bubbles

Sornette, Didier; Andraszewicz, Sandra; Murphy, Ryan O.; … - 2016

We propose a new paradigm to study coordination in complex social systems, such as financial markets, that accounts for fundamental uncertainty. This new context has features from prediction markets that have been shown previously to mitigate price bubbles in classical asset market experiments....

Persistent link: https://www.econbiz.de/10011514493

Voluntary versus enforced team effort

Keser, Claudia; Montmarquette, Claude - In: Games 2 (2011) 3, pp. 277-301

We present a model where each of two players chooses between remuneration based on either private or team effort. Although at least one of the players has the equilibrium strategy to choose private remuneration, we frequently observe both players to choose team remuneration in a series of...

Persistent link: https://www.econbiz.de/10009752421

Using AI to Generate Option C Scaling Ideas : A Case Study in Early Education

Fatchen, Faith; List, John A.; Pagnotta, Francesca - National Bureau of Economic Research - 2025

In recent years, field experiments have reshaped policy worldwide, but scaling ideas remains a thorny challenge. Perhaps the most important issue facing policymakers today is deciding which ideas to scale. One approach to attenuate this information problem is to augment traditional A/B...

Persistent link: https://www.econbiz.de/10015421874

Chapter 4. Social Policy : Mechanism Experiments and Policy Evaluations

Congdon, W.J.; Kling, J.R.; Ludwig, J.; Mullainathan, S. - 2017

Policymakers and researchers are increasingly interested in using experimental methods to inform the design of social policy. The most common approach, at least in developed countries, is to carry out large-scale randomized trials of the policies of interest, or what we call here policy...

Persistent link: https://www.econbiz.de/10014023415

Chapter 35 A Survey of Peace Economics

Anderton, Charles H.; Carter, John R. - In: Handbook of defense economics : volume 2, Defense in a …, (pp. 1211-1258). 2007

Peace economics can be defined as the use of economics to understand the causes and effects of violent conflict in the international system and the ways that conflict can be avoided, managed, or resolved. This chapter surveys major subject areas of peace economics, highlighting seminal as well...

Persistent link: https://www.econbiz.de/10014024394