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Becker, Bo - 2013

Reaching-for-yield--investors' propensity to buy riskier assets in order to achieve higher yields--is believed to be an important factor contributing to the credit cycle. This paper presents a detailed study of this phenomenon in the corporate bond market. We show that insurance companies, the...

Persistent link: https://www.econbiz.de/10013084730

First Cabin Fares from New York to the British Isles, 1826-1914

Dupont, Brandon - 2016

We present a continuous time series on first cabin passenger fares for ocean travel from New York to the British Isles covering nearly a century of time. We discuss the conceptual and empirical difficulties of constructing such a time series, and examine the reasons for differences between the...

Persistent link: https://www.econbiz.de/10012986306

Tacit Collusion in the Presence of Cyclical Demand and Endogenous Capacity Levels

Knittel, Christopher R. - 2010

countercyclical. We also establish pricing patterns with respect to the relative prices in booms and recessions. If the marginal cost … intermediate range, numerical examples are calculated to show specific pricing patterns …

Persistent link: https://www.econbiz.de/10012760596

Price Cutting and Business Stealing in Imperfect Cartels

Bernheim, B. Douglas - 2014

Though economists have made substantial progress toward formulating theories of collusion in industrial cartels that account for a variety of fact patterns, important puzzles remain. Standard models of repeated interaction formalize the observation that cartels keep participants in line through...

Persistent link: https://www.econbiz.de/10013056583

Sticky Prices, Coordination and Collusion

Driscoll, John C.; Ito, Harumi - 2021

New Keynesian models of price setting under monopolistic competition involve two kinds of inefficiency: the price level is too high because firms ignore an aggregate demand externality, and when there are costs of changing prices, price stickiness may be an equilibrium response to changes in...

Persistent link: https://www.econbiz.de/10013249355

An Experimental Approach to Merger Evaluation

Conlon, Christopher T. - 2013

assessing proposed mergers in markets with differentiated products. This new standard is based on a measure of ``upward pricing … pressure,'' (UPP) and the calculation of a ``gross upward pricing pressure index'' (GUPPI) in turn relies on a ``diversion … of products to which consumers actually switch. In the past, economists have rarely had the ability to experiment in this …

Persistent link: https://www.econbiz.de/10013071901

Predicting Experimental Results : Who Knows What?

DellaVigna, Stefano - 2016

Academic experts frequently recommend policies and treatments. But how well do they anticipate the impact of different treatments? And how do their predictions compare to the predictions of non-experts? We analyze how 208 experts forecast the results of 15 treatments involving monetary and...

Persistent link: https://www.econbiz.de/10012984117

Neural Activity Reveals Preferences Without Choices

Smith, Alec - 2013

We investigate the feasibility of inferring the choices people would make (if given the opportunity) based on their neural responses to the pertinent prospects when they are not engaged in actual decision making. The ability to make such inferences is of potential value when choice data are...

Persistent link: https://www.econbiz.de/10013078307

Non-Choice Evaluations Predict Behavioral Responses to Changes in Economic Conditions

Bernheim, B. Douglas - 2013

experiment, we find that this method yields accurate estimates of price sensitivities for a collection of products under …

Persistent link: https://www.econbiz.de/10013078308

Predicting Insurance Demand from Risk Attitudes

Jaspersen, Johannes Gerd; Ragin, Marc A.; Sydnor, Justin R. - 2022

Can measured risk attitudes and associated structural models predict insurance demand? In an experiment (n = 1,730), we …

Persistent link: https://www.econbiz.de/10013312498

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