Showing 1 - 10 of 29
Research Joint Ventures and subsidies are important R&D policy instruments. The regulator, however, is unlikely to know all the relevant information to regulate R&D optimally. The extent to which there are appropriability problems is one such variable that is private information to the firms...
Persistent link: https://www.econbiz.de/10012235919
Persistent link: https://www.econbiz.de/10012235697
We characterize strategy-proof social choice functions when individual have strictly quasi-concave, continuous and satiated utility functions on convex subsets
Persistent link: https://www.econbiz.de/10012235779
In a recurring game, a stage game is played sequentially by different groups of players. Each group receives publicly available information about the play of earlier groups. Players begin with initial uncertainty about the distribution of types (representing the preferences and strategic...
Persistent link: https://www.econbiz.de/10012235950
In a recurring game, a stage game is played consecutively by different groups of players, with each group receiving information about the play of earlier groups. Starting with uncertainty about the distribution of types in the population, late groups may learn to play a correct Bayesian...
Persistent link: https://www.econbiz.de/10012235963
) and convergence to a fragmented industrial structure does not obtain as the economy grows large. In particular, we find a natural oligopoly in which in general there are three larger intermediaries of similar size and one smaller intermediary occupying niche markets. Nevertheless, as the...
Persistent link: https://www.econbiz.de/10012235840
The paper provides a framework in which suppliers of experience goods find it in their best interest to provide and enforce quality standards. This self-regulatory outcome is compared to various forms of statutory regulation, such as price regulation and quality regulation. The comparision is...
Persistent link: https://www.econbiz.de/10012235870
In markets, in which exchange requires costly search for trading partners, intermediaries can help to reduce the trading frictions. This intuition is modelled in a framework with heterogeneous agents, who have the chocie between intermediated exchange and search accompanied by some bargaining...
Persistent link: https://www.econbiz.de/10012235871
In the Yes/No game, like in the ultimatum game, proposer and respondercan share a monetary reward. In both games the proposer suggests a rewarddistribution which the responder can accept or reject (yielding 0-payoffs). Thegames only differ in that the responder does (not) learn the suggested...
Persistent link: https://www.econbiz.de/10005866695
This paper analyses individual information acquisition in an ultimatum game with aprioriunknown outside options. We find that while individual play seems to accord reasonablywell with the distribution of empirical behavior, contestants seem to grossly overweighthe value of information. While...
Persistent link: https://www.econbiz.de/10005866913