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Asymmetric Price Adjustment "in the Small:" An Implication of Rational Inattention
Levy, Daniel; Chen, Haipeng (Allan); Ray, Sourav; … - 2004
Analyzing scanner price data that cover 27 product categories over an eight-year period from a large Mid-western supermarket chain, we uncover a surprising regularity in the data—small price increases occur more frequently than small price decreases. We find that this asymmetry holds for price...
Persistent link: https://www.econbiz.de/10013204746
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Indirect Evolution versus Strategic Delegation: A Comparison of Two Approaches to Explaining Economic Institutions
Dufwenberg, Martin; Güth, Werner - 1998
Two major methods of explaining economic institutions, namely by strategic choices or through (indirect) evolution, are compared for the case of a homogenous quadratic duopoly market. Sellers either can provide incentives for agents to care for sales, or evolve as sellers who care for sales in...
Persistent link: https://www.econbiz.de/10010321706
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Imitators and optimizers in Cournot oligopoly
Schipper, Burkhard C. - 2005
We analyze a symmetric n-firm Cournot oligopoly with a heterogeneous population of optimizers and imitators. Imitators mimic the output decision of the most successful firms of the previous round a la Vega-Redondo (1997). Optimizers play a myopic best response to the opponents' previous output....
Persistent link: https://www.econbiz.de/10010266401
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Cournot competition between teams: an experimental study
Schipper, Burkhard C.; Raab, Philippe - 2007
In the economic literature on market competition, firms are often modelled as individual decision makers and the internal organization of the firm is neglected (unitary player assumption). However, as the literature on strategic delegation suggests, one can not generally expect that the behavior...
Persistent link: https://www.econbiz.de/10010276634
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An empirical analysis of risk, incentives and the delegation of worker authority
Devaro, Jed; Kurtulus, Fidan Ana - 2011
We address four empirical questions in this paper. Is there empirical support for: 1) the risk-incentives tradeoff predicted by agency theory? 2) a positive relationship between authority and incentives? 3) a positive relationship between risk and authority? 4) the main testable implication of...
Persistent link: https://www.econbiz.de/10010287889
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Mentoring and Segregation: Female-Led Firms and Gender Wage Policies
Cardoso, Ana Rute; Winter-Ebmer, Rudolf - 2007
We explore the impact of mentoring of females and gender segregation on wages using a large longitudinal data set for … Portugal. Female managers can protect and mentor female employees by paying them higher wages than male-led firms would do. We … find that females can enjoy higher wages in female-led firms, the opposite being true for males. In both cases is a higher …
Persistent link: https://www.econbiz.de/10010294591
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Employer provided training in Austria: Productivity, wages and wage inequality
Böheim, René; Schneeweis, Nicole; Wakolbinger, Florian - 2009
, wages, and the inequality of wages within firms. While the average amount spent on employer-provided training is low in … IT-courses. We find a significant relationship between training and wages, the coefficient is about 0.05. We find no … significant effect of training on the inequality of wages within firms. …
Persistent link: https://www.econbiz.de/10010294844
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Making sense of the subprime crisis
Gerardi, Kristopher S.; Lehnert, Andreas; Sherland, Shane M. - 2009
This paper explores the question of whether market participants could have or should have anticipated the large increase in foreclosures that occurred in 2007 and 2008. Most of these foreclosures stemmed from loans originated in 2005 and 2006, leading many to suspect that lenders originated a...
Persistent link: https://www.econbiz.de/10010292214
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What explains differences in foreclosure rates? A response to Piskorski, Seru, and Vig
Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - 2010
In this note we discuss the findings in Piskorski, Seru, and Vig (2010) as well as the authors' interpretation of their results. First, we find that small changes to the set of covariates used by Piskorski, Seru, and Vig significantly reduce the magnitude of the differences in foreclosure rates...
Persistent link: https://www.econbiz.de/10010292234
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Decomposing the foreclosure crisis: House price depreciation versus vad underwriting
Gerardi, Kristopher; Shapiro, Adam Hale; Willen, Paul S. - 2009
We estimate a model of foreclosure using a data set that includes every residential mortgage, purchase-and-sale, and foreclosure transaction in Massachusetts from 1989 to 2008. We address the identification issues related to the estimation of the effects of house prices on residential...
Persistent link: https://www.econbiz.de/10010292310