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The bright side of the GDPR : welfare-improving privacy management
Choe, Chongwoo; Matsushima, Noriaki; Shekhar, Shiva - 2023
We study the GDPR's opt-in requirement in a model with a firm that provides a digital service and consumers who are heterogeneous in their valuations of the firm's service as well as the privacy costs incurred when sharing personal data with the firm. We show that the GDPR boosts demand for the...
Persistent link: https://www.econbiz.de/10014334058
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Strategic limitation of market accessibility : search platform design and welfare
Teh, Christopher; Wang, Chengsi; Watanabe, Makoto - 2023
This paper explores the relationship between market accessibility and various participants' welfare in an intermediated directed-search market. For a general class of meeting technologies, we provide a necessary and sufficient condition under which efficiency requires imperfect accessibility,...
Persistent link: https://www.econbiz.de/10014295063
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Platform intermediation in a market for differentiated products
Galeotti, Andrea (contributor);  … - 2008
Persistent link: https://www.econbiz.de/10003674369
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Petty corruption and citizen feedback
Angelucci, Charles; Russo, Antonio - 2015
Numerous countries are introducing citizen feedback schemes to tame corruption. We study how best to incorporate feedback in public officials' incentives. The main novelty of our proposal is to allow citizens to directly influence officials' pay. We consider a situation in which entrepreneurs...
Persistent link: https://www.econbiz.de/10011343756
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Marketmaking middlemen
Gautier, Pieter; Hu, Bo; Watanabe, Makoto - 2016
This paper develops a model in which market structure is determined endogenously by the choice of intermediation mode …. We consider two representative business modes of intermediation that are widely used in real-life markets: one is a … other. In our model, buyers and sellers can simultaneously search in an outside market and use the intermediation service …
Persistent link: https://www.econbiz.de/10011517977
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Brokering votes with information spread via social networks
Duarte, Raúl; Finan, Frederico S.; Larreguy, Horacio; … - 2024
Politicians rely on political brokers to buy votes throughout much of the developing world. We investigate how social networks facilitate these vote-buying exchanges. Our conceptual framework suggests brokers should be particularly well-placed within the network to learn about non-copartisans’...
Persistent link: https://www.econbiz.de/10015070061
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Bank of England interest rate announcements and the foreign exchange market
Melvin, Michael; Saborowski, Christian; Sager, Michael; … - 2009
Since 1997, the Bank of England Monetary Policy Committee (MPC) has met monthly to set the UK policy interest rate. We examine evidence of systematic patterns in exchange rate movements on MPC days over the first decade of operation of the MPC. Daily data reveal significant differences in...
Persistent link: https://www.econbiz.de/10003831967
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Exchange rate forecasters' performance : evidence of skill?
McDonald, Ronald H.; Menkhoff, Lukas; Rebitzky, Rafael R. - 2009
This paper sheds new light on a long-standing puzzle in the international finance literature, namely, that exchange rate expectations appear inaccurate and even irrational. We find for a comprehensive dataset that individual forecasters' performance is skill-based. 'Superior' forecasters show...
Persistent link: https://www.econbiz.de/10003832110
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'Large' vs. 'small' players : a closer look at the dynamics of speculative attacks
Bjønnes, Geir H.; Holden, Steinar; Rime, Dagfinn; … - 2009
What is the role of large playersʺ like hedge funds and other highly leveraged institutions in speculative attacks? In recent theoretical work, large players may induce an attack by an early move, providing information to smaller agents. In contrast, many observers argue that large players are...
Persistent link: https://www.econbiz.de/10003806083
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The crisis in the foreign exchange market
Melvin, Michael; Taylor, Mark P. - 2009
The financial crisis of 2007-2008 had major implications for the foreign exchange market. We review events and implications for exchange rates, volatility, returns to currency investing, and transaction costs. This blow-by-blowʺ narrative is intended to be a resource for researchers seeking a...
Persistent link: https://www.econbiz.de/10003861767