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News sources and media bias
Garcia-Pires, Armando J.; Kind, Hans Jarle; Sørgard, Lars - 2012
relationship as an informal contract based on trust and punishment, where a news source decides if and how much information to …
Persistent link: https://www.econbiz.de/10009580771
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Relational contracts and trust in a high-tech industry
Calzolari, Giacomo; Felli, Leonardo; Koenen, Johannes; … - 2021
We study how informal buyer-supplier relationships in the German automotive industry affect procurement. Using unique data from a survey focusing on these, we show that more trust, the belief that the trading partner acts to maintain the mutual relationship, is associated with both higher...
Persistent link: https://www.econbiz.de/10012649766
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Trust, investment and competition : theory and evidence from German car manufacturers
Calzolari, Giacomo; Felli, Leonardo; Koenen, Johannes; … - 2019
Based on data from a comprehensive benchmarking study on buyer-supplier relationships in the German automotive industry, we show that more trust in a relationship is associated with higher idiosyncratic investment by suppliers and better part quality - but also with more competition among...
Persistent link: https://www.econbiz.de/10012026390
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A game-theoretic foundation for the Wilson equilibrium in competitive insurance markets with adverse selection
Mimra, Wanda; Wambach, Achim - 2011
can be withdrawn after observation of competitors' contract offers. We show that an equilibrium always exists where … consumers obtain their respective Wilson-Miyazaki-Spence (WMS) contract. Jointly profit-making contracts can also be sustained … entry. -- casymmetric information ; competitive insurance market ; contract withdrawal …
Persistent link: https://www.econbiz.de/10009011830
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The end of tourist traps : a natural experiment on the impact of tripadvisor on quality upgrading
Donati, Dante - 2022
Asymmetric information can distort market outcomes. I study how the online disclosure of information affects consumers' behavior and firms' incentives to upgrade product quality in markets where information is traditionally limited. I first build a model of consumer search with firms' endogenous...
Persistent link: https://www.econbiz.de/10013285520
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Optimal regulation of auditing
Pagano, Marco (contributor); Immordino, Giovanni (contributor) - 2007
Persistent link: https://www.econbiz.de/10003497568
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Making sense of non-binding retail-price recommendations
Bühler, Stefan; Gärtner, Dennis L. - 2010
that RPRs may be part of a relational contract, communicating private information from manufacturer to retailer that is … indispensable for maximizing joint surplus. We show that this contract is self-enforcing if the retailer's profit is independent of …
Persistent link: https://www.econbiz.de/10003965874
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Common agency equilibria with discrete mechanisms and discrete types
Martimort, David; Stole, Lars A. - 2001
This paper characterizes the equilibrium sets of an intrinsic common agencygame with discrete types and direct revelation mechanisms. After presentinga general algorithm to find the pure-strategy equilibria of this game, we use itto characterize these equilibria when the two principals control...
Persistent link: https://www.econbiz.de/10011400396
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Auctions vs. negotiations : the case of favoritism
Gretschko, Vitali; Wambach, Achim - 2012
We compare two commonly used mechanisms in procurement: auctions and negotiations. The execution of the procurement mechanism is delegated to an agent of the buyer. The agent has private information about the buyer's preferences and may collude with one of the sellers. We provide a precise...
Persistent link: https://www.econbiz.de/10009689581
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The role of diagnostic ability in markets for expert services
Liu, Fang; Rasch, Alexander; Schwarz, Marco; Waibel, … - 2020
In credence goods markets, experts have better information about the appropriate quality of treatment than their customers. Experts may exploit their informational advantage by defrauding customers. Market institutions have been shown theoretically to be effective in mitigating fraudulent expert...
Persistent link: https://www.econbiz.de/10012315945