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What’s Behind Firms’ Inflation Forecasts?

Conflitti, Cristina - 2019

How do firms form expectations about future inflation? We investigate this issue by exploiting the Survey of Inflation … of the wage setting process in Italy allows us to assess the reaction of inflation expectations to exogenous variation in … the cost of labour borne by firms. We find that firms' inflation expectations are significantly affected by contractual …

Persistent link: https://www.econbiz.de/10012865596

Trust in health care credence goods : experimental evidence on framing and subject pool effects

Angerer, Silvia; Glätzle-Rützler, Daniela; Waibel, … - 2021

Credence goods markets are characterized by asymmetric information concerning the needed and/or provided quality between experts and consumers. The functioning of the market heavily relies on trust on the side of the consumer as well as trustworthiness on the side of the expert. However, a great...

Persistent link: https://www.econbiz.de/10012591151

Preventive-service fraud in credence good markets

Karni, Edi - In: Economic theory 78 (2024) 2, pp. 593-617

Persistent link: https://www.econbiz.de/10015185100

Reciprocity and gift exchange in markets for credence goods

Kandul, Serhiy; Lanz, Bruno; Reins, Evert - In: Games and economic behavior 141 (2023), pp. 52-69

Persistent link: https://www.econbiz.de/10014454427

Reciprocity and gift exchange in markets for credence goods

Kandul, Serhiy; Lanz, Bruno; Reins, Evert - 2020 - this version: November 2020

We study the role of reciprocity in markets for credence goods where expert-sellers have more information about the severity of a problem faced by a consumer. We employ a standard experimental credence goods market to introduce the possibility for consumers to gift expert-sellers before they...

Persistent link: https://www.econbiz.de/10012261269

Financial and Real Sectors' Inflation Expectations in Turkey : Evidence From Panel Data

Oral, Ece; Saygili, Hulya; Saygili, Mesut; Tuncel, Ozge - 2008

We investigate rationality of financial and real sectors' CPI inflation expectations in Turkey by using multivariate … proceed to analyze the significance of both past and future inflation rates as determinants of agents' future inflation … forecasts. Recursive estimates also show that forecasters' weight on future/target inflation rate versus past actual and …

Persistent link: https://www.econbiz.de/10014211781

Firms' expectations and price-setting : evidence from micro data

Boneva, Lena; Cloyne, James; Weale, Martin; Wieladek, Tomasz - 2016

In many forward-looking macroeconomic models, such as the New Keynesian model, firms' expectations about the future play a key role in determining outcomes today. We examine this hypothesis using a novel panel dataset on firms actual and expected price changes collected by the Confederation of...

Persistent link: https://www.econbiz.de/10011523616

Strategic Freedom, Constraint, and Symmetry in One-Period Markets with Cash and Credit Payment

Shubik, Martin; Smith, Eric - 2003

In order to explain in a systematic way why certain combinations of market, financial, and legal structures may be intrinsic to certain capabilities to exchange real goods, we introduce criteria for abstracting the qualitative functions of markets. The criteria involve the number of strategic...

Persistent link: https://www.econbiz.de/10014082962

Chapter 29 Empirical Models of Entry and Market Structure

Berry, Steven; Reiss, Peter - In: Handbook of industrial organization : volume 3, (pp. 1845-1886). 2007

This chapter surveys empirical models of market structure. We pay particular attention to equilibrium models that interpret cross-sectional variation in the number of firms or firm turnover rates. We begin by discussing what economists can in principle learn from models with homogeneous...

Persistent link: https://www.econbiz.de/10014024587

Beliefs, payoffs, information : on the robustness of the BDP property in models with endogenous beliefs

Gizatulina, Alia; Hellwig, Martin - 2012 - First version: December 1, 2008, This version: March 23, 2012

Neeman (2004) and Heifetz and Neeman (2006) have shown that, in auctions with incomplete information about payoffs, full surplus extraction is only possible if agents’ beliefs about other agents are fully informative about their own payoff parameters. They argue that the set of...

Persistent link: https://www.econbiz.de/10010230371