Showing 1 - 10 of 298
information transmission. In the case of uniform tariff, we argue that a positive price-cap on the charge to content is optimal … (with no constrain on the consumer side). Proposing menus helps signaling useful information to consumers and therefore …
Persistent link: https://www.econbiz.de/10011083772
We examine a Bertrand competition game between two intermediaries offering matching services between two sides of a market. Indirect network externalities arise as the probability of finding one's match with a given intermediary increase with the number of agents of the other side who use the...
Persistent link: https://www.econbiz.de/10005136667
In markets with imperfect information and heterogeneity, the information technology affects the rate at which agents … affect each other. The adoption of novel information technologies may then entail a revolution in the sense of a move from an … inefficient to an efficient equilibrium. Inefficient production technologies are removed even in sectors where the new information …
Persistent link: https://www.econbiz.de/10005788903
This Paper examines competition between a dominant network and a challenging network with third-degree or perfect price-discrimination, allowing for arbitrary configurations of network externalities, as well as horizontal and vertical product differentiation. Domination in the coordination game...
Persistent link: https://www.econbiz.de/10005661635
We survey the recent literature on the role of information in mechanism design. First, we discuss an emerging … literature on the role of endogenous payoff and strategic information for the design and the efficiency of the mechanism. We … specifically consider information management in the form of acquisition of new information or disclosure of existing information …
Persistent link: https://www.econbiz.de/10005123850
We develop a model of search among substitutes for the best combination of commodity variant and price, in which the structure of search costs can be manipulated by the suppliers of these variants, e.g. by joining an existing market or opening a new one. We analyse the subgame perfect equilibria...
Persistent link: https://www.econbiz.de/10005136540
We analyse the impact of increased outside opportunities brought to consumers by access to a global market on local market performance under monopoly versus oligopoly. If consumers have to choose once where to shop we show that under all forms of organizing the local market, increased...
Persistent link: https://www.econbiz.de/10005498025
This paper offers an informational explanation for asset price booms and crashes. If market fundamentals change, but the length of this process of change is unknown, market participants try to learn about it by observing market outcomes. This learning generates a boom and a crash, which we call...
Persistent link: https://www.econbiz.de/10005504406
information and correlated between them. The principals benchmark their agents against each other by making the same offers in the …
Persistent link: https://www.econbiz.de/10011083946
Does information about rampant political corruption increase electoral participation and the support for challenger … parties? Democratic theory assumes that offering more information to voters will enhance electoral accountability. However, if … increased support for challengers and higher political participation. We provide experimental evidence that information about …
Persistent link: https://www.econbiz.de/10011084114