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discrimination ensures efficient output decisions given product characteristics, coordination failures may prevent efficiency in the …
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This paper develops a model of pricing and advertising in a matching environment with capacity constrained sellers. Sellers' expenditure on directly informative advertising attracts consumers only probabilistically. Consumers who happen to observe advertisements randomize over the advertised...
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Suppose an altruistic person, A, is willing to transfer resources to a second person, B, if B comes upon hard times. If B anticipates that A will act in this manner, B will save too little from both agents' point of view. This is the Samaritan's dilemma. The logic of the dilemma has been...
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industry’s financial performance, efficiency and quality of service (though it does not attempt to benchmark private hospitals …
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important policy tools that the central bank may adopt to improve the technical and economic efficiency of payment systems. …Central bank spending on the operation of inter-bank funds transfer systems may range from below one million to nearly … efficiency in different countries and under alternative policy approaches. The key findings are as follows. First, strong scale …
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