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financial media. We find that major personal finance magazines (Money, Kiplinger’s Personal Finance, and SmartMoney) are more … for mentions in the New York Times or Wall Street Journal. Positive media mentions in both newspapers and magazines are …
Persistent link: https://www.econbiz.de/10005134846
establish direct markets for advertising. The media is viewed as an intermediary that can channel advertising and allocate it … efficiently by screening consumers. This screening process may result in excessive prices of media products even in competitive … markets, over- or underprovision of advertising, and in an overprovision of media quality for high income consumers (relative …
Persistent link: https://www.econbiz.de/10005412873
There has been an explosion of new forms of communications media for interpersonal communication. There is anecdotal … 'context' a media provides can adversely affect the users perceptions of that media. …
Persistent link: https://www.econbiz.de/10005407519
I study the consequences of heterogeneity of skills for the design of an optimal unemployment insurance, using a principal-agent set-up with a risk neutral insurer and infinitely lived risk averse agents. Agents, who are characterised by different productivities or skills, are employed by firms...
Persistent link: https://www.econbiz.de/10005408328
Professional experts offer advice with the objective of appearing well informed. Their ability is evaluated on the basis of the advice given and the realized state of the world. We model this situation as a reputational cheap-talk game with continuous signal, state, and ability type spaces....
Persistent link: https://www.econbiz.de/10005550867
In sender--receiver games high--quality types can distinguish themselves from low--quality types by sending a costly signal. Allowing for additional, noisy information on sender types can radically alter sender behavior in such games. We examine equilibria where medium types separate themselves...
Persistent link: https://www.econbiz.de/10005550943
It is shown here that market crashes and bubbles can arise without external shocks. Sudden changes in behavior coming after a long period of stationarity may be the result of endogenous information processing. Except for the daily observation of the market, there is no new information, no...
Persistent link: https://www.econbiz.de/10005118553
We study a strategic model of dynamic trading where agents are asymmetrically informed over common value sources of uncertainty. There is a continuum of uninformed buyers and a finite number of sellers, some of them informed. When there is only one seller, full information revelation never...
Persistent link: https://www.econbiz.de/10005118623
In the paper we analyze how the possibility of revealing information to a competitor alters the entry/investment behavior of a first entrant. We show that once it has entered the market, the firm might refrain from making further profitable investments in order to hide information from the...
Persistent link: https://www.econbiz.de/10005561373
Though widespread, the practice of public subsidies for cultural activity lacks a rigorous and consistent economic rationale. We analyze a canonical market structure that characterizes much cultural activity: the competition of mass-produced goods with heterogeneous non- standardized goods that...
Persistent link: https://www.econbiz.de/10005125963