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Demand Estimation Under Incomplete Product Availability
Conlon, Christopher T. - 2010
Incomplete product availability is an important feature of many markets; ignoring changes in availability may bias demand estimates. We study a new dataset from a wireless inventory system installed on 54 vending machines to track product availability every four hours. The data allow us to...
Persistent link: https://www.econbiz.de/10012758419
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Is Home Bias in Assets Related to Home Bias in Goods?
van Wincoop, Eric - 2010
Obstfeld and Rogoff (2000) have reinvigorated an old literature on the link between home bias in the goods market and … home bias in the asset market by arguing that trade costs in the goods market can account for the observed portfolio home … the implied home bias are close to zero, casting significant doubt on a meaningful link between home bias in the goods and …
Persistent link: https://www.econbiz.de/10012760513
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Adjudication as a Private Good
Landes, William M.; Posner, Richard A. - 2021
theory of law, our finding that the public courts do not automatically generate efficient rules is disappointing, since it … strongly influenced by economic considerations and explicable in economic terms, is evidence that economic theory has a major …
Persistent link: https://www.econbiz.de/10013238728
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Volatile Policy and Private Information : the Case of Monetary Policy
Jones, Larry; Manuelli, Rody - 2021
In this paper we study how volatility in monetary policy affects economic performance in the presence of endogenously chosen information structures. To isolate the effects produced by the interaction of uncertainty in monetary policy and (possibly) asymmetric information, we consider a model in...
Persistent link: https://www.econbiz.de/10013230773
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Misconduct in Credence Good Markets
Brown, Jennifer - 2012
We examine misconduct in credence good markets with price taking experts. We propose a market-level model in which price-taking experts extract surplus based on the value of their firm's brand and their own skill. We test the predictions of the model using sales complaint data for exclusive and...
Persistent link: https://www.econbiz.de/10013096847
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Information Aversion
Andries, Marianne - 2017
The main features of households' attention to savings are rationalized by a model of information aversion, a preference-based fear of receiving flows of news. In line with the empirical evidence, information averse investors observe the value of their portfolios infrequently; inattention is more...
Persistent link: https://www.econbiz.de/10012945147
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Social Investments, Informal Risk Sharing, and Inequality
Ambrus, Attila - 2014
This paper studies costly network formation in the context of risk sharing. Neighboring agents negotiate agreements as in Stole and Zwiebel (1996), which results in the social surplus being allocated according to the Myerson value. We uncover two types of inefficiency: overinvestment in social...
Persistent link: https://www.econbiz.de/10013044341
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Overcoming Informational Barriers to International Resource Allocation : Prices and Group Ties
Rauch, James E. - 2012
Incomplete information in the international market creates difficulty in matching agents with productive opportunities and interferes with the ability of prices to allocate scarce resources across countries. Resource-price differentials may not be eliminated and domestic resource supplies may...
Persistent link: https://www.econbiz.de/10013115612
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Signaling, Shame, and Silence in Social Learning
Chandrasekhar, Arun G. - 2018
We examine how a social stigma of seeking information can inhibit learning. Consider a Seeker of uncertain ability who can learn about a task from an Advisor. If higher-ability Seekers need information less, then a Seeker concerned about reputation may refrain from asking to avoid signaling low...
Persistent link: https://www.econbiz.de/10012909127
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Sec Regulation Fair Disclosure, Information, and the Cost of Capital
Gomes, Armando R. - 2009
than current finance theory admits …
Persistent link: https://www.econbiz.de/10012767656