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Stahl, Konrad; Strausz, Roland - 2011

Who does, and who should initiate costly certification by a third party under asymmetric quality information, the buyer or the seller? Our answer - the seller - follows from a nontrivial analysis revealing a clear intuition. Buyer-induced certification acts as an inspection device,...

Persistent link: https://www.econbiz.de/10010306003

Price Competition with Information Disparities in a Vertically Differentiated Duopoly

Cavaliere, Alberto - 2004

differentiation, informed consumers exert a positive externality on the purchasers of the high quality good as its price decreases … when the share of informed consumers decreases. Considering also that the price of the low quality good increases with the … with pessimistic consumers we can explain demand collapses and insensitivity to price changes due to consumer suspicions …

Persistent link: https://www.econbiz.de/10011324907

Would you like to be a prosumer? Information revelation, personalization and price discrimination in electronic markets

Morasch, Karl; Bandulet, Martin - 2003

the monopolist can commit to a maximum price before consumers decide about disclosure. …

Persistent link: https://www.econbiz.de/10010300399

Instant Efficient Pollution Abatement under Non-Linear Taxation and Asymmetric Information: The Differential Tax Revisited

Mensink, Paul - 2004

This paper analyzes incentives for polluting firms to exchange abatement cost information under the non-linear pollution tax scheme ('differential tax') introduced by Kim and Chang [J. Regul. Econom. 5, 1993, 193-197]. It shows that polluting firms have - under mild conditions - an incentive to...

Persistent link: https://www.econbiz.de/10011324997

Central bank transparency and private information in a dynamic macroeconomic model

Pearlman, Joseph G. - 2005

We investigate the role of economic transparency within the framework of one of Townsend’s models of ‘forecasting the forecasts of others’. The equilibrium has the property that ‘higher order beliefs’ are coordinated into a finite-dimensional setup that is amenable to address monetary...

Persistent link: https://www.econbiz.de/10011604501

Acquisition versus greenfield: the impact of the mode of foreign bank entry on information and bank lending rates

Claeys, Sophie; Hainz, Christa - 2006

Policy makers often decide to liberalize foreign bank entry but at the same time restrict the mode of entry. We study how different entry modes affect the interest rate for loans in a model in which domestic banks possess private information about their incumbent clients but foreign banks have...

Persistent link: https://www.econbiz.de/10011604699

Inflation and output volatility under asymmetric incomplete information

Carboni, Giacomo; Ellison, Martin - 2009

The assumption of asymmetric and incomplete information in a standard New Keynesian model creates strong incentives for monetary policy transparency. We assume that the central bank has better information about its objectives than the private sector, and that the private sector has better...

Persistent link: https://www.econbiz.de/10011605138

Liquidity hoarding and interbank market spreads: the role of counterparty risk

Heider, Florian; Hoerova, Marie; Holthausen, Cornelia - 2009

We study the functioning and possible breakdown of the interbank market in the presence of counterparty risk. We allow banks to have private information about the risk of their assets. We show how banks’ asset risk affects funding liquidity in the interbank market. Several interbank market...

Persistent link: https://www.econbiz.de/10011605172

Taxes versus quotas for a stock pollutant

Hoel, Michael; Karp, Larry S. - 1998

We compare the effects of taxes and quotas for an environmental problem in which the regulator and polluter have asymmetric information about abatement costs, and the environmental damage depends on the stock of pollution. We thus extend to a dynamic framework previous studies in which...

Persistent link: https://www.econbiz.de/10011608397

Tying governments' hands: Why harmonisation of environmental policies may be desirable

Johal, Surjinder; Ulph, Alistair M. - 1998

We consider environmental policy in a federal system where states face purely domestic environmental problems. It is normally argued that in this context, environmental policy is best set at the state level, perhaps because of better local information. To provide a rationale for federal...

Persistent link: https://www.econbiz.de/10011608463