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Bid Takers or Market Makers? The Effect of Auctioneers on Auction Outcomes

Lacetera, Nicola - 2014

. Much less work has considered the importance of the auction process. For example, in many auctions, auctioneers are present … and can impact the process of the auction by varying starting prices, level of price adjustments, the speed of the auction … explore the importance of auction process by testing whether auctioneers can have a systematic difference on auction outcomes …

Persistent link: https://www.econbiz.de/10013061775

The Sugar Institute Learns to Organize Information Exchange

Genesove, David; Mullin, Wallace P. - 2021

This paper describes information exchange under the Sugar Institute, the trade association of U.S. domestic sugar cane refiners, between 1928 and 1936. The Institute collected production and delivery data from the individual firms and returned it to them in aggregated form. Attempts to exchange...

Persistent link: https://www.econbiz.de/10013229346

Transparency, Risk Management and International Financial Fragility

Draghi, Mario - 2003

Discussions of financial risk often fail to distinguish between risks that are consciously borne and those that are not. To understand the breeding conditions for financial crises the prime focus of concern should not be simply on large risk-taking per se, but on the unintended, or unanticipated...

Persistent link: https://www.econbiz.de/10012786498

A Q-Theory of Banks

Begenau, Juliane; Bigio, Saki; Majerovitz, Jeremy; … - 2022

We propose a dynamic bank theory with a delayed loss recognition mechanism and a regulatory capital constraint at its core. The estimated model matches four facts about banks' Tobin's Q that summarize bank leverage dynamics. (1) Book and market equity values diverge, especially during crises;...

Persistent link: https://www.econbiz.de/10013290998

A Model of Forum Shopping, with Special Reference to Standard Setting Organizations

Tirole, Jean - 2010

Owners of intellectual property or mere sponsors of an idea (e.g., authors, security issuers, sponsors of standards) often need to persuade potential buyers or adopters of the worth of their property or idea. To this purpose, they often resort to more or less independent certifiers. This paper...

Persistent link: https://www.econbiz.de/10012762590

Competing on Standards? Entrepreneurship, Intellectual Property and the Platform Paradox

Simcoe, Timothy - 2015

This paper studies the intellectual property strategy of firms that participate in the formal standards process …

Persistent link: https://www.econbiz.de/10012750298

The Rules of Standard Setting Organizations : An Empirical Analysis

Chiao, Benjamin - 2015

This paper empirically explores the procedures employed by standard-setting organizations. Consistent with Lerner-Tirole (2004), we find (a) a negative relationship between the extent to which an SSO is oriented to technology sponsors and the concession level required of sponsors and (b) a...

Persistent link: https://www.econbiz.de/10012750696

Collusive Investments in Technological Compatibility : Lessons from U.S. Railroads in the Late 19th Century

Gross, Daniel P. - 2019

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...

Persistent link: https://www.econbiz.de/10012862849

Energy Efficiency Standards are More Regressive than Energy Taxes : Theory and Evidence

Levinson, Arik - 2016

Economists promote energy taxes as cost-effective. But policymakers raise concerns about their regressivity, or disproportional burden on poorer families, preferring to set energy efficiency standards instead. I first show that in theory, regulations targeting energy efficiency are more...

Persistent link: https://www.econbiz.de/10012977268

The Effect of Malpractice Law on Physician Supply : Evidence from Negligence-Standard Reforms

Frakes, Michael - 2017

We explore whether the composition of the physician work force is impacted by the clinical standards imposed on physicians under medical liability rules. We theorize that physicians of particular backgrounds will be attracted to regions when the malpractice laws of those regions favor the type...

Persistent link: https://www.econbiz.de/10012955447