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Competition of e-commerce intermediaries
Matros, Alexander; Zapechelnyuk, Andriy - 2010
little, fierce competition between providers of similar services is expected. We consider a model where two e …
Persistent link: https://www.econbiz.de/10010280782
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Weddings with uncertain prospects: Mergers under asymmetric information
Borek, Thomas; Buehler, Stefan; Schmutzler, Armin - 2004
We provide a framework for analyzing bilateral mergers when there is two-sided asymmetric information about firms' types. We show that there is always a no-merger equilibrium where firms do not consent to a merger, irrespective of their type. There may also be a cut-off equilibrium if the...
Persistent link: https://www.econbiz.de/10010315502
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Expectations as reference points: Field evidence from experienced subjects in a competitive, high-stakes environment
Bartling, Björn; Brandes, Leif; Schunk, Daniel - 2012
We show that professional soccer players exhibit reference-dependent behavior during matches. Controlling for the state of the match and for unobserved heterogeneity, we show on a minute-by-minute basis that a player breaches the rules of the game, measured by the referee's assignment of cards,...
Persistent link: https://www.econbiz.de/10010316909
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Merger negotiations and ex-post regret
Gärtner, Dennis; Schmutzler, Armin - 2007
We consider a setting in which two potential merger partners each possess private information pertaining both to the profitability of the merged entity and to stand-alone profits, and we investigate the extent to which this private information makes ex-post regret an unavoidable phenomenon in...
Persistent link: https://www.econbiz.de/10010315578
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Attention competition
Hefti, Andreas M. - 2011
I present a game-theoretic model where economic competition and attention competition are interdependent. On the one … price competition among all perceived firms. On the other hand attracting attention involves costs which must be covered by … the earnings from competition. It is the task of this paper to clarify the consequences of such an interdependence between …
Persistent link: https://www.econbiz.de/10010316856
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Media as watchdogs: The role of news media in electoral competition
Chan, Jimmy; Suen, Wing - 2003
derive an equilibrium in which media endorsements influence voting behavior. Competition for media endorsement causes … multiple media outlets also helps promote electoral competition. …
Persistent link: https://www.econbiz.de/10010293478
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Bilateral trade with loss-averse agents
Benkert, Jean-Michel - 2016
We study the bilateral trade problem put forward by Myerson and Satterthwaite (1983) under the assumption that agents are loss-averse, using the model developed by Koszegi and Rabin (2006, 2007). We show that the endowment effect increases the sellers information rent, and that the attachment...
Persistent link: https://www.econbiz.de/10011663168
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Timing of predictions in dynamic cheap talk: Experts vs. quacks
Smirnov, Aleksei; Starkov, Egor - 2019
The paper studies a dynamic communication game in the presence of adverse selection and career concerns. A forecaster of privately known competence, who cares about his reputation, chooses the timing of the forecast regarding the outcome of some future event. We find that in all equilibria in a...
Persistent link: https://www.econbiz.de/10012140661
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Bilateral trade with loss-averse agents
Benkert, Jean-Michel - 2022
The endowment and attachment effect are empirically well-documented in bilateral trade situations. Yet, the theoretical literature has so far failed to formally identify these effects. We fill this gap by introducing expectations-based loss aversion, which can explain both effects, into the...
Persistent link: https://www.econbiz.de/10013164118
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Bilateral trade with loss-averse agents
Benkert, Jean-Michel - 2022
The endowment and attachment effect are empirically well-documented in bilateral trade situations. Yet, the theoretical literature has so far failed to formally identify these effects. We fill this gap by introducing expectations-based loss aversion, which can explain both effects, into the...
Persistent link: https://www.econbiz.de/10013285525