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Short Sales and Trade Classification Algorithms

Asquith, Paul - 2010

This paper demonstrates that short sales are often misclassified as buyer-initiated by the Lee-Ready and other commonly … used trade classification algorithms. This result is due in part to regulations which require short sales be executed on an … direction, it ignores the often larger borrowing premiums which short sellers must pay. Since short sales constitute …

Persistent link: https://www.econbiz.de/10012758604

Efficiency-Morality Trade-Offs in Repugnant Transactions : A Choice Experiment

Elias, Julio - 2016

Societies prohibit many transactions considered morally repugnant, although potentially efficiency-enhancing. We conducted an online choice experiment to characterize preferences for the morality and efficiency of payments to kidney donors. Preferences were heterogeneous, ranging from...

Persistent link: https://www.econbiz.de/10012983409

Do Digital Platforms Reduce Moral Hazard? The Case of Uber and Taxis

Liu, Meng - 2018

Digital platforms like Uber can enhance market transparency and mitigate moral hazard via ratings of buyers and sellers, real-time monitoring, and low-cost complaint channels. We compare driver choices at Uber with taxis by matching trips so they are subject to the same optimal route. We also...

Persistent link: https://www.econbiz.de/10012911461

Toward an Understanding of the Economics of Apologies : Evidence from a Large-Scale Natural Field Experiment

Halperin, Basil - 2019

We use a theory of apologies to design a nationwide field experiment involving 1.5 million Uber ridesharing consumers who experienced late rides. Several insights emerge from our field experiment. First, apologies are not a panacea: the efficacy of an apology and whether it may backfire depend...

Persistent link: https://www.econbiz.de/10012889706

An Analysis of the Labor Market for Uber's Driver-Partners in the United States

Hall, Jonathan - 2016

Uber, the ride-sharing company launched in 2010, has grown at an exponential rate. This paper provides the first comprehensive analysis of the labor market for Uber's driver-partners, based on both survey and administrative data. Drivers who partner with Uber appear to be attracted to the...

Persistent link: https://www.econbiz.de/10012978847

Peer-to-Peer Markets

Einav, Liran - 2015

Peer-to-peer markets such as eBay, Uber, and Airbnb allow small suppliers to compete with traditional providers of goods or services. We view the primary function of these markets as making it easy for buyers to find sellers and engage in convenient, trustworthy transactions. We discuss elements...

Persistent link: https://www.econbiz.de/10013017065

Lost in the Clouds : The Impact of Changing Property Rights on Investment in Cloud Computing Ventures

Lerner, Josh - 2015

Our analysis seeks to understand the impact of changing allocations of property rights on investment in new firms. We focus on the Cartoon Network, et al. v. Cablevision decision in the U.S., which narrowed the protection enjoyed by content creators (e.g., movie studios) and gave greater rights...

Persistent link: https://www.econbiz.de/10013022936

Digital Currencies, Decentralized Ledgers, and the Future of Central Banking

Raskin, Max - 2016

Central banking in an age of digital currencies is a fast-developing topic in monetary economics. Algorithmic digital currencies such as bitcoin appear to be viable competitors to central bank fiat currency, and their presence in the marketplace may pressure central banks to pursue tighter...

Persistent link: https://www.econbiz.de/10012992627

Owning, Using and Renting : Some Simple Economics of the "Sharing Economy"

Horton, John J. - 2016

New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are modeled to determine ownership, rental rates, quantities, and surplus generated. Both the short run, before consumers can revise their ownership decisions, and the long run, in...

Persistent link: https://www.econbiz.de/10012997898

The Economic Limits of Bitcoin and the Blockchain

Budish, Eric B. - 2018

The amount of computational power devoted to anonymous, decentralized blockchains such as Bitcoin's must simultaneously satisfy two conditions in equilibrium: (1) a zero-profit condition among miners, who engage in a rent-seeking competition for the prize associated with adding the next block to...

Persistent link: https://www.econbiz.de/10012916609

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