, equilibrium allocations under price uncertainty are efficient in this constrained sense. Arrow-Debreu equilibria turn out to be …

. We apply a hedonic price model to the German automobile market by using data on detailed technical specifications of high …

competing products, the price of individual products tends to fall over the product lifetime. This holds true for more than 90 …% of the expenditure items underlying the U.K. consumer price index and has important normative implications. Constructing … a sticky price model featuring a product life cycle and rich amounts of heterogeneity, we explain how the optimal in …

A number of studies have evaluated the social welfare impact of price and income changes using equivalent incomes that … are computed at some reference price vector, and an aggregator with these equivalent incomes as arguments in place of a … social welfare function. This paper investigates the impact of the choice of the reference price vector on the results of …

In Buy-It-Now (BIN, hereafter) auctions, sellers can make a "take-it-or-leave-it" price offer (BIN price) prior to an … to auction prices substantially below those expected in second-price auctions. Our results reveal that the observed price … deviations are not an artefact due to the existence of the BIN price, rather a consequence of the specific features of the eBay …