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Platform marketplaces can potentially steer buyers to certain sellers by recommending or guaranteeing those sellers. Money-back guarantees—which create a direct financial stake for the platform in seller performance—might be particularly effective at steering, as they align buyer and...
Persistent link: https://www.econbiz.de/10013323442
data from the U.S. and Germany in structural VARs, we find that positive innovations to business uncertainty lead to … confidence innovations. Once we control for their low-frequency effect, we find little statistically or economically significant …
Persistent link: https://www.econbiz.de/10013141840
outcomes. The UK, Sweden, Canada and the US obtain the highest management scores closely followed by Germany, with a gap to …
Persistent link: https://www.econbiz.de/10013044342
An extensive literature has studied lobbying by special interest groups. We analyze a novel lobbying channel: lobbying businessmen-politicians through business proxies. When a politician controls a business, firms attempting to curry favors shift their spending towards the politician's business....
Persistent link: https://www.econbiz.de/10013071306
Several authors suggest that trust is an important determinant of cooperation between strangers in a society, and therefore of performance of social institutions. We argue that trust should be particularly important for the performance of large organizations. In a cross-section of countries,...
Persistent link: https://www.econbiz.de/10014222386
We conducted a randomized controlled trial testing the effect of modest incentives to attend the gym among new members of a fitness facility, a population that is already engaged in trying to change a health behavior. Our experiment randomized 836 new members of a private gym into a control...
Persistent link: https://www.econbiz.de/10012951892
We develop a tractable method for augmenting macroeconomic models with autonomous variation in higher-order beliefs. We use this to accommodate a certain type of waves of optimism and pessimism that can be interpreted as the product of frictional coordination and, unlike the one featured in the...
Persistent link: https://www.econbiz.de/10013031030
) and stigma (the cost of having a bank's name revealed) are desirable to restore confidence. Lending facilities raise the …
Persistent link: https://www.econbiz.de/10012980183
Experts with reputational concerns, even good ones, are averse to admitting what they don't know. This diminishes our trust in experts and, in turn, the role of science in society. We model the strategic communication of uncertainty, allowing for the salient reality that some questions are...
Persistent link: https://www.econbiz.de/10012911482
We develop a theory of trust in lending, distinguishing between trust and reputation, and use it to analyze the competitive interactions between banks and non-bank lenders (fintech firms). Trust enables lenders to have assured access to financing, whereas a loss of investor trust makes this...
Persistent link: https://www.econbiz.de/10012915235