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In Search of Stars : Network Formation among Heterogeneous Agents
Goeree, Jacob K.; Riedl, Arno; Ule, Aljaz - 2021
This paper reports results from a laboratory experiment on network formation among heterogeneous agents. The … experimental design extends the Bala-Goyal (2000) model of network formation with decay and two-way flow of benefits by allowing … private information. In all treatments, the (efficient) equilibrium network has a "star" structure. With homogeneous agents …
Persistent link: https://www.econbiz.de/10013318256
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Competing with Asking Prices
Lester, Benjamin R. - 2013
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10013087422
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Survey of Models on Demand, Customer Base-Line and Demand Response and Their Relationships in the Power Market
Heshmati, Almas - 2012
The increasing use of demand-side management as a tool to reliably meet electricity demand at peak time has stimulated interest among researchers, consumers and producer organizations, managers, regulators and policymakers, This research reviews the growing literature on models used to study...
Persistent link: https://www.econbiz.de/10013104681
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The Economics of Credence Goods : On the Role of Liability, Verifiability, Reputation and Competition
Dulleck, Uwe - 2009
has little influence, as predicted. Seller competition drives down prices and yields maximal trade, but does not lead to …
Persistent link: https://www.econbiz.de/10012764487
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Competition and the Ratchet Effect
Charness, Gary; Kuhn, Peter; Villeval, Marie Claire - 2021
competition for principals or agents. While we do observe substantial and significant ratchet effects in the baseline (no … competition) case of our model, we find that ratchet behavior is nearly eliminated by labor-market competition; interestingly this …
Persistent link: https://www.econbiz.de/10013324885
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Barriers to Entry, Deregulation and Workplace Training
Bassanini, Andrea; Brunello, Giorgio - 2021
We develop a theoretical and empirical analysis of the impact of barriers to entry on workplace training. Our … European Labour Force Survey to investigate empirically the relationship between product market regulation and training …
Persistent link: https://www.econbiz.de/10013317117
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Asymmetric Information in the Labor Market, Immigrants and Contract Menu
Kar, Saibal - 2011
Immigrant workers and their labor force participation in host countries have received critical attention in all concerned disciplines, principally owing to its strong implications for well-being of natives. The aging population in many rich countries and several related and unrelated issues...
Persistent link: https://www.econbiz.de/10013129911
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Private Education Market, Information on Test Scores and Tuition Practices
Firpo, Sergio - 2014
In this paper, we study the impact of disclosing information about school quality of private schools in Brazil on school choice. Particularly, we investigate whether test score disclosure affected private schools' tuition prices. In 2006, Brazil started to announce the schools' average test...
Persistent link: https://www.econbiz.de/10013046255
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Second-Degree Moral Hazard in a Real-World Credence Goods Market
Balafoutas, Loukas - 2014
Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard – the tendency of the supply...
Persistent link: https://www.econbiz.de/10013061956
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Reveal it or Conceal it : On the Value of Second Opinions in a Low-Entry-Barriers Credence Goods Market
Bindra, Parampreet - 2020
Credence goods markets with their asymmetric information between buyers and sellers are prone to large inefficiencies. In theory, poorly informed consumers can protect themselves from maltreatment through sellers by asking for second opinions from other sellers. Yet, empirical evidence whether...
Persistent link: https://www.econbiz.de/10012831233