Similar Search Results

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

Lacetera, Nicola - 2013

. 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/10012458932

The Sugar Institute Learns to Organize Information Exchange

Genesove, David - 1997

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/10012472840

A Q-Theory of Banks

Begenau, Juliane - 2020

We document five facts about banks: (1) market and book leverage diverged during the 2008 crisis, (2) Tobin's Q predicts future profitability, (3) neither book nor market leverage appears constrained, (4) banks maintain a market leverage target that is reached slowly, (5) pre-crisis, leverage...

Persistent link: https://www.econbiz.de/10012482155

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/10012468892

Evolving Standards for Academic Publishing : A q-r Theory

Ellison, Glenn - 2000

This paper develops a model of evolving standards for academic publishing. It is motivated by the increasing tendency of academic journals to require multiple revisions of articles and by changes in the content of articles. Papers are modeled as varying along two quality dimensions: q and r. The...

Persistent link: https://www.econbiz.de/10012470945

Designing Quality Certificates : Insights from eBay

Hui, Xiang; Jin, Ginger Zhe; Liu, Meng - National Bureau of Economic Research - 2022

Quality certification is a common tool to reduce asymmetric information and enhance trust in marketplaces. Should the certificate focus on seller inputs such as fast shipping, or include output measures such as consumer ratings? In theory, incorporating output measures makes the certificate more...

Persistent link: https://www.econbiz.de/10012814449

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/10012480205

Quality Disclosure and Certification : Theory and Practice

Dranove, David - 2010

three key theoretical issues: (i) Why don't sellers voluntarily disclose through a process of "unraveling?" (ii) When should …

Persistent link: https://www.econbiz.de/10012463006

Tiebreaker : Certification and Multiple Credit Ratings

Bongaerts, Dion - 2009

This paper explores the economic role credit rating agencies play in the corporate bond market. We consider three existing theories about multiple ratings: information production, rating shopping and regulatory certification. Using differences in rating composition, default prediction and credit...

Persistent link: https://www.econbiz.de/10012463319

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

Simcoe, Timothy S. - 2007

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

Persistent link: https://www.econbiz.de/10012465007