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A dynamic model of auctions with buy-it-now: theory and evidence

Chen, Jong-Rong; Chen, Kong-Pin; Chou, Chien-Fu; Huang, … - Volkswirtschaftliche Fakultät, … - 2006

In the ascending-price auctions with Yahoo!-type buy-it-now (BIN), we characterize and derive the closed-form solution for the optimal bidding strategy of the bidder and the optimal BIN price of the seller when they are both risk-averse. The seller is shown to be strictly better o with the BIN...

Persistent link: https://www.econbiz.de/10011108134

Capital misallocation and aggregate factor productivity

Azariadis, Costas; Kaas, Leo - Volkswirtschaftliche Fakultät, … - 2009

We propose a sectoral-shift theory of aggregate factor productivity for a class of economies with AK technologies, limited loan enforcement, a constant production possibilities frontier, and finitely many sectors producing the same good. Both the growth rate and total factor productivity in...

Persistent link: https://www.econbiz.de/10011107327

Dynamics of effort allocation and evolution of trust: an agent-based model

Hassani Mahmooei, Behrooz; Parris, Brett - Volkswirtschaftliche Fakultät, … - 2012

dynamic effort allocation system, an evolving trust framework and a reputation module to study how changes in micro-level rent …

Persistent link: https://www.econbiz.de/10011107434

Financial Experts, Asset Prices and Reputation

Rudiger, Jesper; Vigier, Adrien - Volkswirtschaftliche Fakultät, … - 2013

information about the expert's ability is private to traders and only revealed through trades. When the expert's reputation is …

Persistent link: https://www.econbiz.de/10011110283

The Perverse Incentive of Knowing the Truth

Garcia-Martinez, Jose A. - Volkswirtschaftliche Fakultät, … - 2013

We show that the observation by a principal of the effectiveness of an expert‘s action could induce the expert to lie, damaging the principal. A career-minded expert receives a private-informative signal about the real state of the world, and then he takes an action that can match or not the...

Persistent link: https://www.econbiz.de/10011259447

The financial crisis and the credit rating agencies: the failure of reputation

Miele, Maria Grazia - Volkswirtschaftliche Fakultät, … - 2012

This paper presents a theoretical framework to describe the behaviour of the credit rating agencies(CRAs) during the crisis, surveying some reputational game models. CRAs have been blamed of inflating ratings of the new credit risk transfer products (CRTs) and of acting in favour of issuers...

Persistent link: https://www.econbiz.de/10011260075

Reputation and Learning: Japanese Car Exports to the United States

Goksel, Turkmen - Volkswirtschaftliche Fakultät, … - 2011

This paper incorporates learning and reputation building into a simple dynamic stochastic model of international trade … reputation, namely U.S. imports of Japanese cars over the period 1961-2005. Numerical simulations replicate the trade flow in a … international trade patterns. Since learning and reputation building require time, predicted short run trade patterns can be quite …

Persistent link: https://www.econbiz.de/10011112599

The use of mathematics in economics and its effect on a scholar's academic career

Espinosa, Miguel; Rondon, Carlos; Romero, Mauricio - Volkswirtschaftliche Fakultät, … - 2012

There has been so much debate on the increasing use of formal methods in Economics. Although there are some studies tackling these issues, those use either a little amount of papers, a small amount of scholars or a short period of time. We try to overcome these challenges constructing a database...

Persistent link: https://www.econbiz.de/10011112820

Reputation in Repeated Moral Hazard Games

Atakan, Alp Enver; Ekmekci, Mehmet - Volkswirtschaftliche Fakultät, … - 2014

monitoring structure, we prove a reputation result for repeated moral hazard games: if there is positive probability that player …

Persistent link: https://www.econbiz.de/10011113383

Endogenous Reputation Formation: Cooperation and Identity under the Shadow of the Future

Kamei, Kenju - Volkswirtschaftliche Fakultät, … - 2015

cooperate with each other by choosing to show their identities and building good reputation when there is an option to hide them …

Persistent link: https://www.econbiz.de/10011183540