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Freedom to Trade and the Competitive Process
Edlin, Aaron - 2011
. Inspired by the theory of the core, we explore the idea that the competitive process is the process of sellers and buyers …
Persistent link: https://www.econbiz.de/10012461839
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Trading Frictions and House Price Dynamics
Caplin, Andrew - 2008
We construct a model of trade with matching frictions. The model provides a simple characterization for the joint …
Persistent link: https://www.econbiz.de/10012464042
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What Makes a Price Fair? An Experimental Analysis of Transaction Experience and Endogenous Fairness Views
Herz, Holger - 2016
People's fairness preferences are an important constraint for what constitutes an acceptable economic transaction, yet little is known about how these preferences are formed. In this paper, we provide clean evidence that previous transactions play an important role in shaping perceptions of...
Persistent link: https://www.econbiz.de/10012455952
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Platform Pricing at Sports Card Conventions
Jin, Ginger Zhe - 2012
We study a new data set of US sports card conventions in order to evaluate the pricing theory of two-sided markets … findings: first, consumer pricing decreases with competition at any reasonable distance, but pricing to dealers is insensitive … to competition and in longer distances even increases with competition. Second, when consumer price is zero (and thus …
Persistent link: https://www.econbiz.de/10012460700
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The Nature of Excess : Using Randomized Treatments to Investigate Price Dynamics
Al-Ubaydli, Omar - 2010
This study explores empirically the price dynamics within two distinct market institutions - a double oral auction, which resembles modern asset markets, and a bilateral exchange market, which represents markets that have existed for centuries. To provide a theoretical basis to our...
Persistent link: https://www.econbiz.de/10012462338
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Comparative Statics in Markets for Indivisible Goods
Caplin, Andrew - 2010
We complete the study of comparative statics initiated in Caplin and Leahy [2010], which introduced a new mathematical apparatus for understanding NTU allocation markets, as such covering the housing market and other markets for large indivisible goods. We introduce homotopy methods to...
Persistent link: https://www.econbiz.de/10012462372
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Growing State-Federal Conflicts in Environmental Policy : The Role of Market-Based Regulation
Williams, Roberton C, III. - 2010
In recent years, cases in which state governments chose to override federal environmental regulation with tighter regulations of their own have become increasingly common, even for pollutants that have substantial spillovers across states. This paper argues that this change arose at least in...
Persistent link: https://www.econbiz.de/10012462473
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Taxing Guns vs. Taxing Crime : An Application of the "Market for Offenses Model"
Ehrlich, Isaac - 2010
The interaction between offenders and potential victims has so far received relatively little attention in the literature on the economics of crime. The main objective of this paper is twofold: to extend the "market for offenses model" to deal with both "product" and "factor" markets, and to...
Persistent link: https://www.econbiz.de/10012462644
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Why Do Inventories Rise When Demand Falls in Housing and Other Markets?
Lazear, Edward P. - 2010
Inventories and price changes are correlated. The inverse relation is most obvious in housing where inventories build in low demand markets and shrink in high demand markets. This is a puzzle. Symmetry of information among buyers and sellers would seem to imply that sellers would change their...
Persistent link: https://www.econbiz.de/10012462772
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Intermediation and Economic Integration
Antràs, Pol - 2010
The theory of international trade has paid scant attention to market institutions. Neither neoclassical theory nor new …
Persistent link: https://www.econbiz.de/10012462904