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Experimental Analysis of the Reputational Incentives in a Self Regulated Organization
José Luis Lima R.; Javier Nuñez E. - Econometric Society - 2004
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
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Conflicts of Interest and Credible Information Provision by Specialized and One-Stop Banks
Shapiro, Joel; Bolton, Patrick; Freixas, Xavier - Econometric Society - 2004
findings by embedding signaling within a model of multi-product price competition. …
Persistent link: https://www.econbiz.de/10005328965
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Ordinal Cheap Talk in Common Value Auctions
Chakraborty, Archishman; Gupta, Nandini - Econometric Society - 2004
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
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Durable Goods Monopoly with Quality Improvements over Time
Biglaiser, Gary; Anton, James J. - Econometric Society - 2004
obtain information rents. This allows the firm to charge a higher price for the current improvement to the high value …
Persistent link: https://www.econbiz.de/10005328983
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Intertemporal Quality Discrimination
Chi, Woody Chih-yi - Econometric Society - 2004
came to the market in 2000 with a list price of $80,000 per pair. MartinLogan later applied the technology to their mid-price …-amplifier, ART Series 2, and in 2003 added to their product line a stripped-down version of the ART, the Premier 17LS, whose price is … less than one-third the price of the ART. The four-wheel-drive vehicle manufacturer Land Rover introduced their mid-price …
Persistent link: https://www.econbiz.de/10005342349
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Strategic Maneuvering and Standardization: Critical Advantage or Critical Mass?
Park, Sangin - Econometric Society - 2004
It is widely speculated that the adoption of a technology takes off to be self-sustaining if it reaches the critical mass. However, the sponsors of competing technologies may engage in strategic maneuvering in the adoption process. Indeed, this paper shows that in the de facto standardization...
Persistent link: https://www.econbiz.de/10005130243
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The Consortium Standard and Patent Pools
Aoki, Reiko; Nagaoka, Sadao - Econometric Society - 2004
We examine patent pools in the context of a consortium standard. Although such pools of complementary technologies are approved by antitrust authorities, the actual implementation has proved to be problematic. We identify two possible obstacles: free riding and bargaining failure. We also...
Persistent link: https://www.econbiz.de/10005702749
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Country Insurance
Yeyati, Eduardo Levy; Cordella, Tito - Econometric Society - 2004
To understand the consequences of the presence of international safety nets on governments' incentives to undertake reforms, we model IFIs´ interventions as country insurance policies. We find that country insurance (especially when made contingent on negative external shocks) is more likely...
Persistent link: https://www.econbiz.de/10005328891
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Are the directions of stock price changes predictable? A generalized cross-spectral approach
Chung, Jaehun; Hong, Yongmiao - Econometric Society - 2004
to four daily U.S. stock price indices. We find overwhelming evidence that the directions of excess stock returns are …
Persistent link: https://www.econbiz.de/10005328959
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Country Insurance
Cordella, Tito; Yeyati, Eduardo Levy - Econometric Society - 2004
The recent wave of financial crises has fueled the debate on the effect of IFIs intervention on governments' incentives to undertake reforms. In this paper we treat this intervention more generally as a country insurance contract, and examine its implications in a stylized set-up. More...
Persistent link: https://www.econbiz.de/10005063703