Showing 1 - 10 of 186
study a monopolistic intermediary and perfect competition between intermediaries, and we consider the welfare properties of …
Persistent link: https://www.econbiz.de/10012503018
We study the effects of different tax reporting mechanisms in experi-mental double auction markets in the laboratory. The sales tax is paidby the seller, and we compare market outcomes in a no-tax conditionto cases where (i) tax evasion is impossible, (ii) taxes can be evaded butthere is an...
Persistent link: https://www.econbiz.de/10012503080
I examine a rational expectations model of buyers and capacity con-strained sellers, where traders can choose between a cluster and a searchmarket. Sellers choose a market and post a price, and then buyerschoose which market to visit. There is a pure strategy equilibriumwhere all agents are in...
Persistent link: https://www.econbiz.de/10012503081
We experimentally examine the effects of price competition in markets for experience goods where sellers can build up … reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed … prices are fixed or endogenously chosen, we find that price competition lowers efficiency as consumers pay too little …
Persistent link: https://www.econbiz.de/10010188722
We experimentally examine the effects of price competition in markets for expe-rience goods where sellers can build up … reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed … prices are fixed or endoge-nously chosen, we find that price competition lowers efficiency as consumers pay too little …
Persistent link: https://www.econbiz.de/10010498486
Why do retail consumers look for P2P financial intermediation? Are internetbased peer-to-peer (P2P) loans a substitute for or a complement to bank loans? In this study we answer these questions by comparing P2P lending with the nonconstruction consumer credit market in Germany. We show that P2P...
Persistent link: https://www.econbiz.de/10011520643
Using transaction-level data on foreign exchange (FX) forward contracts, we document large demand-driven heterogeneity in banks' dollar hedging costs. For identification, we exploit regulatory end-of-quarter reporting that penalizes banks' currency exposure with capital surcharges. Contracts...
Persistent link: https://www.econbiz.de/10011916907
Firms often set long notice periods when consumers cancel a contract, and sometimes do so even when the costs of changing or canceling the contract are small. We investigate a model in which a firm offers a contract to consumers who may procrastinate canceling it due to naive present-bias. We...
Persistent link: https://www.econbiz.de/10011905152
Recent studies investigate policies motivating consumers to make an active choice as a way to protect unsophisticated consumers. We analyze the optimal timing of such choice-enhancing policies when a firm can strategically react to them. In our model, a firm provides a contract with automatic...
Persistent link: https://www.econbiz.de/10011762539
costs are high and if there are no such benefits. It reduces price competition and segments the market. In a second …
Persistent link: https://www.econbiz.de/10011591510