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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
findings by embedding signaling within a model of multi-product price competition. …
Persistent link: https://www.econbiz.de/10005328965
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
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
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
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
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
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
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
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