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methodology to distinguish between these two explanations. The methodology rests on the learning-by-doing and the changes in the …
Persistent link: https://www.econbiz.de/10005130197
market is monopoly, and study the quality decision and the pricing of the durable goods monopolist whose first …
Persistent link: https://www.econbiz.de/10005342349
the intensity of network effects, and that a discriminating monopoly may supply larger quantities for all consumers than a …
Persistent link: https://www.econbiz.de/10005063713
This paper presents a model of price screening for goods with network effects, by a monopoly seller, and by an entry …
Persistent link: https://www.econbiz.de/10005702636
Self regulation is a mechanism of quality vigilance that is frequently used in credence good industries. The providers in these markets generally form a Self Regulated Organization (SRO), composed by some members of the industry, whose main job is to convince consumers through an active...
Persistent link: https://www.econbiz.de/10005129771
Sellers benefit on average from revealing information about their goods to buyers, but the incentive to exaggerate undermines the credibility of seller statements. When multiple goods are being auctioned, we show that ordinal cheap talk, which reveals a complete or partial ordering of the...
Persistent link: https://www.econbiz.de/10005328976
We extend the $\Delta$-rationalizability (see Battigalli and Siniscalchi 2003) to infinite strategic form games with incomplete information. The most important feature of the $\Delta$-rationalizability is that there is no specified epistemic type space \`{a} la Harsanyi. However, we can impose a...
Persistent link: https://www.econbiz.de/10005702725
In this paper we experimentally investigate decentralized, organizational learning. The main objective is to understand … how learning members of an organization cope with the confounding effects of the simultaneous learning of others. We use … versions of a simple "success-or-failure" game due to Blume and Franco [2003] as our stylized model of organizational learning …
Persistent link: https://www.econbiz.de/10005342236
We solve in closed form the optimal consumption / portfolio choice problem for the class of isoelastic utility functions under incomplete information about the mean return of the stock price. Our approach consists in converting the original investor's problem into an equivalent program where the...
Persistent link: https://www.econbiz.de/10005129785
The paper studies a learning model in which information about a worker's ability can be acquired symmetrically by the … tasks, provide a sufficiently accurate measure of ability. We then examine the strategic effects of the dynamics of learning …
Persistent link: https://www.econbiz.de/10005063711