Showing 1 - 10 of 127
Weitzman's search model requires that, conditional on stopping, the agent only takes boxes which have already been … common in the search and information acquisition literature, boxes are inspected following the same order as inWeitzman …
Persistent link: https://www.econbiz.de/10010352859
private information. Agents engage in costly search and meet randomly. The terms of trade are determined through bilateral ….e., as discounting and the fixed cost of search become small, all equilibria of the market game converge to perfectly …
Persistent link: https://www.econbiz.de/10010266300
We study the steady state of a market with incoming cohorts of buyers and sellers who are matched pairwise and bargain under private information. We first consider generalized random-proposer take-it-or-leave-it offer games (GRP TIOLI games). This class of games includes a simple random-proposer...
Persistent link: https://www.econbiz.de/10010266316
In a two-sided search market agents are paired to bargain over a unit surplus. The matching market serves as an …
Persistent link: https://www.econbiz.de/10010282941
Current time allocation and household production models face three major weaknesses: First, they only describe the average time allocation. Thus, information about the order of activities is lost. Therefore, it is impossible to describe the influence of activities on later ones. Such...
Persistent link: https://www.econbiz.de/10014483894
In this paper, we match data on student performance in a multiple-choice exam with data on student risk preferences that are extracted from a classroom experiment. We find that more-loss-averse students leave more questions unanswered and perform worse in the multiple-choice exam when giving an...
Persistent link: https://www.econbiz.de/10012141888
We experimentally explore individual and interactive decision making ina sequential search task and test whether …)adequately explain the observed search behavior. Subjects can, at acost, employ screening and selection methods facilitating their search … experimentation. Contrary to popular theoriesof sequential search, aspiration levels are set below the maximum valueof all previously …
Persistent link: https://www.econbiz.de/10005866656
This paper analyzes optimal product lines when consumers differ both in their taste for quality and in their desire for social image. The market outcome features partial pooling and product differentiation that is not driven by heterogeneous valuations for quality but by image concerns. A...
Persistent link: https://www.econbiz.de/10011932935
This paper analyzes consumers' privacy choice concerning their private data and firms' ensuing pricing strategy. The General Data Protection Regulation passed by the European Union in May 2018 allows consumers to decide whether to reveal private information in the form of cookies to an online...
Persistent link: https://www.econbiz.de/10012290359
Although gambling is primarily an economic activity, no single theory of the demand for gambles has gained wide-spread acceptance among economists. This paper proposes a simple model of the demand for gambling that is based on the standard economic assumptions that (1) resources are scarce and...
Persistent link: https://www.econbiz.de/10010282070