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Dividing Online and Offline : A Case Study
Jin, Ginger Zhe; Kato, Andrew - 2014
Every new method of trade offers an opportunity for economic agents to compare its costs and benefits relative to the status quo. Such comparison motivates sorting across market segments and reshapes the whole marketplace. The Internet provides an excellent example: it introduces substantial...
Persistent link: https://www.econbiz.de/10014054233
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Dividing Online and Offline : A Case Study
Jin, Ginger Zhe; Kato, Andrew - 2014
Every new method of trade offers an opportunity for economic agents to compare its costs and benefits relative to the status quo. Such comparison motivates sorting across market segments and reshapes the whole marketplace. The Internet provides an excellent example: it introduces substantial...
Persistent link: https://www.econbiz.de/10014057048
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Signaling versus costly information acquisition
Bester, Helmut; Lang, Matthias; Li, Jianpei - 2018
In Spence's (1973) signaling by education model and in many of its extensions, firms can only infer workers …' productivities. We characterize the trade-offs between signaling by workers and costly information acquisition by firms. Information … workers have low productivity. Our analysis applies also to other signaling problems, e.g. the financial structure of firms …
Persistent link: https://www.econbiz.de/10011888619
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Quality Infomediation in Search Markets
Kennes, John R.; Schiff, Aaron - 2007
We examine the effects of informational intermediation by a third party 'infomediary' in a search model with heterogeneous seller qualities and asymmetric information. The infomediary earns revenue by selling a list of accredited sellers (a 'guidebook') to buyers and selling accreditations to...
Persistent link: https://www.econbiz.de/10014057918
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Signaling versus auditing
Bester, Helmut; Lang, Matthias; Li, Jianpei - 2021
characterize the trade–offs between signaling by workers and costly auditing by firms. Auditing is always associated with (partial …
Persistent link: https://www.econbiz.de/10012648090
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Signaling versus costly information acquisition
Bester, Helmut; Lang, Matthias; Li, Jianpei - 2018
In Spence's (1973) signaling by education model and in many of its extensions, firms can only infer workers …' productivities. We characterize the trade-offs between signaling by workers and costly information acquisition by firms. Information … workers have low productivity. Our analysis applies also to other signaling problems, e.g. the financial structure of firms …
Persistent link: https://www.econbiz.de/10011878774
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Advice is cheap : information is not!
Häfner, Samuel; Taylor, Curtis R. - 2017
An entrepreneur contracts with a consultant, who is protected by limited liability, to supply information about the state of a project prior to investing in it. For a given level of investment, a good project succeeds with higher probability than a bad one. The entrepreneur makes an upfront...
Persistent link: https://www.econbiz.de/10012117630
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Investments in Quality, Collective Reputation and Information Acquisition
Fontini, Fulvio - 2013
In many cases consumers cannot observe firms' investment in quality or safety, but have only beliefs on the average quality of the industry. In addition, the outcome of the collective investment game of the firms may be stochastic since firms cannot control perfectly the technology or external...
Persistent link: https://www.econbiz.de/10013080337
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Information acquisition and assimilation capacities as determinants of technological niche markets
Santos Arteaga, Francisco Javier; Tavana, Madjid; Di … - In: Journal of innovation & knowledge : JIK 7 (2022) 3, pp. 1-13
We present an equilibrium model where the demand side of the market determines the strategic incentives of firms when considering the introduction of technologically superior products (TSPs) and the subsequent dynamic evolution of the market configuration. Market demand is built on conventional...
Persistent link: https://www.econbiz.de/10013448265
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Information acquisition, signaling and learning in duopoly
Jeitschko, Thomas D.; Liu, Ting; Wang, Tao - 2016
' later signaling their private information to rivals. Due to signaling, equilibrium prices are distorted, and so while firms …, compared with firms that do not attempt to manipulate rivals' beliefs, signaling firms acquire less precise information. An …
Persistent link: https://www.econbiz.de/10011548620