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Price discrimination and business-cycle risk

Cornia, Marco; Gerardi, Kristopher S.; Shapiro, Adam Hale - 2011

interquartile range of the price distribution in a market. These results suggest that markups move procyclically in the airline …

Persistent link: https://www.econbiz.de/10010292230

Selection effects in producer-price setting

Carlsson, Mikael - 2014

We use micro data on product prices linked to information on the firms that set them to test for selection effects (state dependence) in micro-level producer pricing. In contrast to using synthetic data from a canonical menu-cost model, we find very weak, if any, micro-level selection effects...

Persistent link: https://www.econbiz.de/10011396726

Overconfidence, subjective perception, and pricing behavior

Pierpaolo, Benigno; Karantounias, Anastasios G. - 2017

We study the implications of overconfidence for price setting in a monopolistic competition setup with incomplete information. Our price-setters overestimate their abilities to infer aggregate shocks from private signals. The fraction of uninformed firms is endogenous; firms can obtain...

Persistent link: https://www.econbiz.de/10012030262

It’s So Hot in Here: Information Avoidance, Moral Wiggle Room, and High Air Conditioning Usage

d’Adda, Giovanna; Gao, Yu; Golman, Russell; Tavoni, … - 2018

Environmental policies based on information provision are widespread, but have often proven ineffective. One possible explanation for information’s low effectiveness is that people actively avoid it. We conduct an online field experiment on air conditioning usage to test the theory of moral...

Persistent link: https://www.econbiz.de/10011816768

The transition to electronic trading in the secondary treasury market

Mizrach, Bruce; Neely, Christopher J. - 2006

-income markets. We analyze a new data set: the eSpeed (Cantor Fitzgerald) electronic Treasury network. We contrast the market … microstructure of eSpeed with the tradi- tional voice assisted networks that report through GovPX. The electronic market (eSpeed) has … greater volume, smaller spreads and a lower estimated impact of a trade than the voice market (GovPX). …

Persistent link: https://www.econbiz.de/10010266349

Project modifications and bidding in highway procurement auctions

De Silva, Dakshina G.; Dunne, Timothy; Kosmopoulou, Georgia - 2015

This paper examines bidding behavior in a setting where post-bid-letting project modifications occur. These modifications change both the costs and payouts to the winning contractor, making the contract incomplete. Recent empirical research shows that bidders incorporate the likelihood of such...

Persistent link: https://www.econbiz.de/10011460617

Separating Bayesian updating from non-probabilistic reasoning: An experimental investigation

Levin, Dan; Peck, James; Ivanov, Asen - 2015

Through a series of decision tasks involving colored cards, we provide separate measures of Bayesian updating and non-probabilistic reasoning skills. We apply these measures to (and are the first to study) a common-value Dutch auction. This format is more salient than the strategically...

Persistent link: https://www.econbiz.de/10011460783

Do traders learn to select efficient market institutions?

Alós-Ferrer, Carlos; Buckenmaier, Johannes; … - 2020

When alternative market institutions are available, traders have to decide both where and how much to trade. We …, sellers trade off larger efficiency in a market with dwindling profits for biased-up profits in a market with vanishing … market institution if the distribution of the gains from trade is asymmetric. Trading behavior approaches equilibrium …

Persistent link: https://www.econbiz.de/10012294282

Collusion in Quality-Segmented Markets

Bos, Iwan; Marini, Marco A. - 2020

We appreciate the comments of and discussions with David Collie, Luis Corchón, Jean Gabszewicz, Andrey Minaev, Riccardo Saulle, Attila Tasnádi, Jacques-François Thisse and participants at the Oligo Workshop in Nottingham. All opinions and errors are ours alone.

Persistent link: https://www.econbiz.de/10012419721

What Can the Price Gap between Branded and Private Label Products Tell Us about Markups?

Barsky, Robert; Bergen, Mark; Dutta, Shantanu; Levy, Daniel - 2002

In this paper we investigate the size of markups for nationally branded products sold in the U.S. retail grocery industry. Using scanner data from a large Midwestern supermarket chain, we compute several measures of upper and lower bounds on markup ratios for over 230 nationally branded products...

Persistent link: https://www.econbiz.de/10013204715