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In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10013087203
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10013087422
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10009696885
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10011488000
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10012986936
In many markets, sellers advertise their good with an asking price. This is a price at which the seller will take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the seller...
Persistent link: https://www.econbiz.de/10011705187
This paper provides a new look at the well-known trade-off between efficiency and equality with an agent-based model. By way of a computer program, our study simulates the interactions of agents producing and trading goods within different market structures and looks at the resulting production...
Persistent link: https://www.econbiz.de/10013119484
Evolutionary modellers have recently taken an interest in the use of computer simulations based on genetic algorithms; this paper offers two contributions to this literature. In the initial sections we aim to place the GA into a general review of evolutionary dynamics, including Fisher's...
Persistent link: https://www.econbiz.de/10005622410
We consider innovation contests for the procurement of an innovation under moral hazard and adverse selection. Innovators have private information about their abilities, and choose unobservable effort in order to produce innovations of random quality. Innovation quality is not contractible. We...
Persistent link: https://www.econbiz.de/10014197603
In this paper, we allow budget-augmenting negative prizes in all-pay auctions with incomplete information, which in general entail endogenous participation of contestants, and investigate effort-maximizing rank-order-based prize allocation rule. We find that at the optimum, the adoption of...
Persistent link: https://www.econbiz.de/10012838160