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We study a Bertrand game where two sellers supplying products of different and unverifiable qualities can outwit potential clients through their (costly) deceptive advertising. We characterize a class of pooling equilibria where sellers post the same price regardless of their quality and low...
Persistent link: https://www.econbiz.de/10011259275
We study a Bertrand game where two sellers supplying products of different and unverifiable qualities can outwit potential clients through (costly) deceptive advertising. We characterize a class of pooling equilibria where sellers post the same price regardless of their quality and low quality...
Persistent link: https://www.econbiz.de/10010800999
Recent research has focused on the “description-experience gap”: while rare events are overweighted in description based decisions, people tend to behave as if they underweight rare events in decisions based on experience. Barron and Erev (2003) and Hertwig, Barron, Weber and Elke (2004)...
Persistent link: https://www.econbiz.de/10011051361
We consider a game of information transmission, with one informed decision maker gathering information from one or more informed senders. Private information is (conditionally) correlated across players, and communication is cheap talk. For the one sender case, we show that correlation...
Persistent link: https://www.econbiz.de/10010833919
Improving a company's bargaining position is often cited as a chief motivation to vertically integrate with suppliers. This paper expands on that view in building a new theory of vertical integration. In my model firms integrate to gain bargaining power against other suppliers in the production...
Persistent link: https://www.econbiz.de/10008567972
Exploiting the timing of the 2005-2006 Italian bankruptcy law reforms, we disentangle the effects of reorganization and liquidation in bankruptcy on bank financing nd firm investment. A 2005 reform introduces reorganization procedures facilitating loan renegotiation. The 2006 reform subsequently...
Persistent link: https://www.econbiz.de/10011268104
A comparative study was carried out to evaluate the effects of two water irrigation sources on the quality and microbiological safety of tomato plants and fruit, and on the microbiological soil properties: irrigation with groundwater (GW) and with treated agro-industrial wastewater (TW). In a...
Persistent link: https://www.econbiz.de/10011116778
Bringing scholars and policymakers to the frontiers of research and addressing the critical issues of the day, the book presents original important new theoretical and empirical results. The distinguished contributors include: P. Agrel, K. Alexander, J. Crémer, X. Dassiou, G. Deltas, F. Etro,...
Persistent link: https://www.econbiz.de/10011181112
Persistent link: https://www.econbiz.de/10011234915
Many theories study how firms'cost of funding depends on reorganization and liquidation in bankruptcy. However empirical evidence on this subject is scarce due to the difficulty in interpreting reforms that change different legal instruments at the same time. We take advantage of the timing of...
Persistent link: https://www.econbiz.de/10010925669