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Technological change, entry and stock market dynamics : an analysis of transition in a monopolistic economy
Datta, Bipasa; Dixon, Huw - 2002
This paper explores an equilibrium model for industry entry dynamics and technological change. We focus on the share …
Persistent link: https://www.econbiz.de/10011408812
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Beyond the dogma of the fixed book price agreement
Ploeg, Frederick van der - 2003
-stocked bookshops than the diversity of published titles and that debutantes do not face big barriers to entry. One should be even more …
Persistent link: https://www.econbiz.de/10011507914
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Regulation and internet access in Germany
Reutter, Michael - 2001
selectiion. We show why market entry for flatrate firms is difficult under a linear wholesale tariff. With both a linear and a …
Persistent link: https://www.econbiz.de/10011398800
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Entry dynamics, capacity utilisation and productivity in a dynamic open economy
Aloi, Marta; Dixon, Huw - 2002
defines an optimal firm size. Changes to the number of firms is subject to adjustment costs, so that the entry dynamics is …
Persistent link: https://www.econbiz.de/10011409812
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Vertical product differentiation when quality is unobservable to buyers : presented at CESifo Area Conference on Industrial Organisation, March 2003
Orosel, Gerhard O.; Zauner, Klaus G. - 2004
We analyze vertical product differentiation in a model where a good's quality is unobservable to buyers before purchase …, a continuum of quality levels is technologically feasible, and minimum quality is supplied under competitive conditions …. After purchase the true quality of the good is revealed with positive probability. To provide firms with incentives to …
Persistent link: https://www.econbiz.de/10011450700
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Time, risk, precommitment, and adverse selection in competitive insurance markets
Pauly, Mark V. - 2003
This informal paper explores models of competitive insurance market equilibrium when individuals of initially similar apparent risk experience divergence in risk levels over time. The information structure is modeled in three alternative ways: all insurers and insureds know risk at any point in...
Persistent link: https://www.econbiz.de/10011511061
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Risk taking, limited liability and the competition of bank regulators
Sinn, Hans-Werner - 2001
Limited liability and asymmetric information between an investment bank and its lenders provide an incentive for a bank to undercapitalise and finance overly risky business projects. To counter this market failure, national governments have imposed solvency constraints on banks. However, these...
Persistent link: https://www.econbiz.de/10011400902
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Market transparency, adverse selection, and moral hazard
Klein, Tobias J.; Lambertz, Christian; Stahl, Konrad - 2013
We study the effects of improvements in market transparency on eBay on seller exit and continuing sellers' behavior. An improvement in market transparency by reducing strategic bias in buyer ratings led to a significant increase in buyer valuation especially of sellers rated poorly prior to the...
Persistent link: https://www.econbiz.de/10010227243
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Information design in insurance markets : selling peaches in a market for lemons
García, Daniel; Teper, Roee; Tsur, Matan - 2018
This paper characterizes the optimal information structure in competitive insurance markets with adverse selection. A regulator assigns ratings to individuals according to their risk characteristics, insurers offer fixed insurance contracts to each rating group, and the market clears as in...
Persistent link: https://www.econbiz.de/10011789043
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The macroeconomic effects of longevity risk under private and public insurance and asymmetric information
Heijdra, Ben J.; Jiang, Yang; Mierau, Jochen O. - 2017
We study the impact of a fully-funded social security system in an economy with heterogeneous consumers. The unobservability of individual health conditions leads to adverse selection in the private annuity market. Introducing social security - which is immune to adverse selection - affects...
Persistent link: https://www.econbiz.de/10011761551