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Inverse Adverse Selection: The Market for Gems

Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Institute - 2011

This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...

Persistent link: https://www.econbiz.de/10008838639

Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk

Hu, Audrey; Zou, Liang - Tinbergen Institute - 2008

This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights …

Persistent link: https://www.econbiz.de/10005136943

Emotions and Economic Shocks in a First-Price Auction

Bosman, Ronald; Riedl, Arno - Tinbergen Institute - 2003

We investigate experimentally whether emotions affect bidding behavior in a first price auction. To induce emotions, we … confront subjects after a first auction series with a positive or negative random economic shock. We then explore the relation … between emotions and bidding behavior in a second auction series. Our main results are: (i) the economic shock has a …

Persistent link: https://www.econbiz.de/10005137109

Bidding to give in the Field: Door-to-Door Fundraisers had it right from the Start

Onderstal, Sander; Schram, Arthur J.C.; Soetevent, … - Tinbergen Institute - 2011

approached about 4500 households, each participating in either an all-pay auction, a lottery, a non-anonymous voluntary … contribution mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households competed for a prize in the all-pay auction … and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory …

Persistent link: https://www.econbiz.de/10009003388

Dumping in a Global World

Moraga-González, José Luis; Viaene, Jean-Marie - Tinbergen Institute - 2004

Anti-dumping actions are now the trade policy of choice of developing and transition economies. To understand why these economies have increasingly applied anti-dumping laws, we build a simple theoretical model of vertical intra-industry trade and investigate the strategic incentives of...

Persistent link: https://www.econbiz.de/10005795578

Trade Policy of Transition Economics

Moraga, José Luis; Viaene, Jean-Marie - Tinbergen Institute - 2000

This paper focuses on ignored issues regarding the impact of trade reforms in transition economies. These economies are primarily characterized by a low quality of their products, large depreciations of their currencies, and a high degree of government intervention in economic activity. These...

Persistent link: https://www.econbiz.de/10005136917

Dumping in Developing and Transition Economies

Moraga-González, José Luis; Viaene, Jean-Marie - Tinbergen Institute - 2004

We build a simple theoretical model to understand why developing and transition economies have increasingly applied anti-dumping laws. To that end, we investigate the strategic incentives of oligopolistic exporting firms to undertake dumping in these economies. We show that dumping may be due to...

Persistent link: https://www.econbiz.de/10005504930

Anti-dumping, Intra-industry Trade and Quality Reversals

Moraga-González, José Luis; Viaene, Jean-Marie - Tinbergen Institute - 2004

We examine an export game where two firms (home and foreign), located in two different countries, produce vertically differentiated products. The foreign firm is the most efficient in terms of R&D costs of quality development and the foreign country is relatively larger and endowed with a...

Persistent link: https://www.econbiz.de/10005504939

Continuous Time Trading in Markets with Adverse Selection

Janssen, Maarten C.W.; Karamychev, Vladimir - Tinbergen Institute - 2000

We investigate the nature of the adverse selection problem in a market for a durable good where trading and entry of new buyers and sellers takes place in continuous time. In the continuous time model equilibria with properties that are qualitatively different from the static equilibria, emerge....

Persistent link: https://www.econbiz.de/10005144503

Tainted Food, Low-Quality Products and Trade

Viaene, Jean-Marie; Zhao, Laixun - Tinbergen Institute - 2010

This paper examines international trade in tainted food and other low-quality products. We

Persistent link: https://www.econbiz.de/10008513228