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The Efficiency of Real-World Bargaining: Evidence from Wholesale Used-Auto Auctions
Larsen, Bradley - National Bureau of Economic Research (NBER) - 2014
This study quantifies the efficiency of a real-world bargaining game with two-sided incomplete information. Myerson and …, but little is known about how well real-world bargaining performs relative to the frontier. The setting is wholesale used …-auto auctions, an $80 billion industry where buyers and sellers participate in alternating-offer bargaining when the auction price …
Persistent link: https://www.econbiz.de/10010951057
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The Economics of Internet Markets
Levin, Jonathan - National Bureau of Economic Research (NBER) - 2011
The internet has facilitated the creation of new markets characterized by large scale, increased customization, rapid innovation and the collection and use of detailed consumer and market data. I describe these changes and some of the economic theory that has been useful for thinking about...
Persistent link: https://www.econbiz.de/10008855223
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Naturally Occurring Markets and Exogenous Laboratory Experiments: A Case Study of the Winner's Curse
Harrison, Glenn W.; list, john - National Bureau of Economic Research (NBER) - 2007
There has been a dramatic increase in the use of experimental methods in the past two decades. An oft-cited reason for this rise in popularity is that experimental methods provide the necessary control to estimate treatment effects in isolation of other confounding factors. We examine the...
Persistent link: https://www.econbiz.de/10005085377
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Auctions with Resale When Private Values Are Uncertain: Evidence from the Lab and Field
Lange, Andreas; list, john; Price, Michael K. - National Bureau of Economic Research (NBER) - 2010
Auction theory represents one of the richest areas of research in economics over the past three decades. Yet, whether, and to what extent, the introduction of secondary resale markets influences bidding behavior in sealed bid first-price auctions remains under researched. This study begins by...
Persistent link: https://www.econbiz.de/10008646462
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The Demise of Walk Zones in Boston: Priorities vs. Precedence in School Choice
Dur, Umut M.; Kominers, Scott Duke; Pathak, Parag A.; … - National Bureau of Economic Research (NBER) - 2013
School choice plans in many cities grant students higher priority for some (but not all) seats at their neighborhood schools. This paper demonstrates how the precedence order, i.e. the order in which different types of seats are filled by applicants, has quantitative effects on distributional...
Persistent link: https://www.econbiz.de/10010969267
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Bargaining in Bilateral Oligopoly: An Alternating Offers Representation of the "Nash-in-Nash" Solution
Collard-Wexler, Allan; Gowrisankaran, Gautam; Lee, Robin S. - National Bureau of Economic Research (NBER) - 2014
bargaining model for predicting and estimating the division of surplus in applied analysis of bilateral oligopoly. This paper …
Persistent link: https://www.econbiz.de/10010969276
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Efficiency versus Equity in the Allocation of Medical Specialty Training Positions in Spain: A Health Policy Simulation Based on a Discrete Choice Model
Harris, Jeffrey E.; López-Valcárcel, Beatriz G.; … - National Bureau of Economic Research (NBER) - 2014
Background. In Spain's "MIR" system of allocating residency training positions, medical school graduates are ranked according to their performance on a national exam and then sequentially choose from the remaining available training slots. We studied how changes in the MIR system might address...
Persistent link: https://www.econbiz.de/10010969452
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Social Investments, Informal Risk Sharing, and Inequality
Ambrus, Attila; Chandrasekhar, Arun G.; Elliott, Matt - National Bureau of Economic Research (NBER) - 2014
This paper studies costly network formation in the context of risk sharing. Neighboring agents negotiate agreements as in Stole and Zwiebel (1996), which results in the social surplus being allocated according to the Myerson value. We uncover two types of inefficiency: overinvestment in social...
Persistent link: https://www.econbiz.de/10010960431
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The Welfare Effects of Coordinated Assignment: Evidence from the NYC HS Match
Abdulkadiroğlu, Atila; Agarwal, Nikhil; Pathak, Parag A. - National Bureau of Economic Research (NBER) - 2015
Centralized and coordinated school assignment systems are a growing part of recent education reforms. This paper estimates school demand using rank order lists submitted in New York City's high school assignment system launched in Fall 2003 to study the effects of coordinating admissions in a...
Persistent link: https://www.econbiz.de/10011213648
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Gender Differences in Bargaining Outcomes: A Field Experiment on Discrimination
Torero, Maximo; Vesterlund, Lise; Castillo, Marco; … - National Bureau of Economic Research (NBER) - 2012
We examine gender differences in bargaining outcomes in a highly competitive and commonly used market: the taxi market …
Persistent link: https://www.econbiz.de/10011271382