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Strategic Behavior, Truthfulness and Welfare of Waiting Option in the Duopoly Forecasting Announcement Market
Yoon, Young-ro - Econometric Society - 2004
In this paper, we discuss the possibility of strategic behavior and truthful reporting in a two players' announcement game when there is a cost for getting information. First we show that the best strategy of each player is to announce the observed signal truthfully if the announcement is made...
Persistent link: https://www.econbiz.de/10005063767
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Electronic Markets, Search Costs and Firm Boundaries
Sankaranarayanan, Ramesh; Sundararajan, Arun - Econometric Society - 2004
integrates search theory into the hidden-action principal-agent model and characterize the optimal contract, showing that the …
Persistent link: https://www.econbiz.de/10005063689
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Equilibrium Sorting of Heterogeneous Consumers Across Locations
Nesheim, Lars - Econometric Society - 2004
This paper develops a model in which a continuum of consumers choose from a continuum of locations indexed by school quality. It computes equilibria that are sustained by an equilibrium price function that matches consumers to different locations based on their willingness to pay for school...
Persistent link: https://www.econbiz.de/10005063696
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Information Flow, Social Interactions and the Fluctuations of Prices in Financial Markets
Matos, João Amaro de - Econometric Society - 2004
We model how excess demand or excess supply can be generated in the presence of a social network of interactions, where … agents are subject to external information and individual incentives. In this context we study price fluctuations in … downwards. This asymmetry of price fluctuations is due to asymmetries in the price elasticity of demand and supply curves at the …
Persistent link: https://www.econbiz.de/10005170256
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A theory of consumer referral
Kim, Jeong-Yoo; Jun, Tackseung - Econometric Society - 2004
In this paper, we consider the network as an alternative trading environment to the market. The main distinctive feature of the network transaction is the dependence of buyers' purchasing behavior, which makes all consumers not equally valuable to a seller. We characterize the optimal behavior...
Persistent link: https://www.econbiz.de/10005702702
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Countervailing Power and Product Diversity
Chen, Zhiqi - Econometric Society - 2004
perspective of economic theory, however, it is not obvious that a retailer with countervailing power would have incentives to …
Persistent link: https://www.econbiz.de/10005328929
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Networks of Relations
Spagnolo, Giancarlo; Lippert, Steffen - Econometric Society - 2004
In this paper, we model networks of relational contracts. We explore sanctioning power within these networks under different information technologies depending on the shape of the network. The value of the relational network lies in the enforcement of cooperative agreements which would not be...
Persistent link: https://www.econbiz.de/10005329020
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Divide et Impera. Optimnal Deterrence Mechanisms Against Cartels and Organized Crime
Spagnolo, Giancarlo - Econometric Society - 2004
organized crime by increasing incentives to "cheat" on partners. Optimally designed "courageous" leniency programs reward the …
Persistent link: https://www.econbiz.de/10005329023
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Network Externalities, Demand Inertia, and Dynamic Pricing in an Experimental Oligopoly Market
Bayer, Ralph-C; Chan, Mickey - Econometric Society - 2004
real world we observe that prices for such products decrease over time. However, game theory predicts that producers should … take into account that current sales in markets with network externalities increase the future demand. We show that optimal …
Persistent link: https://www.econbiz.de/10005342145
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Delegated Management in Dynamic Oligopolies
Petkov, Vladimir - Econometric Society - 2004
intertemporal incentives in order to obtain a competitive advantage. While direct management offers intertemporal commitment …
Persistent link: https://www.econbiz.de/10005342160