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Referrals in Search Markets
Arbatskaya, Maria; Konishi, Hideo - 2010
This paper compares the equilibrium outcomes in search markets with and without referrals. Although it seems clear that consumers would benefit from referrals, it is not at all clear whether firms would unilaterally provide information about competing offers since such information could...
Persistent link: https://www.econbiz.de/10014062961
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The Role of Product Quality Information, Market State Information and Transaction Costs in Electronic Auctions
Koppius, O. - 2012
Electronic auctions have rapidly increased in popularity, but the consequences of switching to an electronic auction are unclear. In part this is because multiple changes occur at the same time so one can only observe the combined effect of these changes and not the effect of each separate...
Persistent link: https://www.econbiz.de/10012755223
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Discounting in mortgage markets
Allen, Jason; Clark, Robert; Houde, Jean-François - 2011
This paper studies discounting in mortgage markets. Using transaction-level data on Canadian mortgages, we document that over time there's been an increase in the average discount, along with substantial dispersion. The standard explanation for dispersion in credit markets is that lenders engage...
Persistent link: https://www.econbiz.de/10008821912
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Price dispersion, chain heterogeneity, and search in online grocery markets
González Cerdeira, Xulia; Miles Touya, Daniel - In: SERIEs : Journal of the Spanish Economic Association 9 (2018) 1, pp. 115-139
This paper identifies patterns of cross-sectional and temporal price dispersion-in the Spanish online grocery retail market-and evaluates the extent to which search costs and chain heterogeneity explain such dispersion. We build a data set comprising 836,074 prices for the most popular grocery...
Persistent link: https://www.econbiz.de/10011865215
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OTC discount
Roure, Calebe de; Mönch, Emanuel; Pelizzon, Loriana; … - 2019
We study price dispersion and venue choice in the interdealer market for German sovereign bonds, where an exchange and over-the-counter segments coexist. We show that 85% of OTC traded prices are favorable with respect to exchange quotes, indicating the prevalence of an OTC discount. This...
Persistent link: https://www.econbiz.de/10012125222
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An Experimental Comparison of Two Search Models
Abrams, Eric; Sefton, Martin; Yavas, Abdullah - 2001
We report an experiment designed to investigate markets with consumer search costs. In markets where buyers are matched with one seller at a time, sellers are predicted to sell at prices equal to buyers' valuations. However, we find sellers post prices that offer a more equal division of the...
Persistent link: https://www.econbiz.de/10014148780
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Search, Obfuscation, and Price Elasticities on the Internet
Ellison, Glenn; Ellison, Sara Fisher - 2014
We examine the competition between a group of Internet retailers that operate in an environment where a price search …
Persistent link: https://www.econbiz.de/10014029107
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Search Frictions and Market Power in Negotiated Price Markets
Allen, Jason; Clark, C. Robert; Houde, Jean-Francois - 2014
through the ability of the first-mover to price discriminate. In contrast, competition amplifies the welfare effect of search … frictions. Despite this, the overall effect of competition is to increase aggregate consumer surplus and drive prices down, but … these effects are not spread equally across consumers: those with low search costs benefit more from competition …
Persistent link: https://www.econbiz.de/10014166929
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The Impact of Incentives and Communication Costs on Information Production and Use : Evidence from Bank Lending
Qian, Jun - 2015
In 2002 and 2003, many Chinese banks implemented reforms that delegated authority to individual loan officers. The change followed China's entrance into the WTO and offers a plausibly exogenous shock to loan officer incentives to produce information. We find that the bank's internal risk rating...
Persistent link: https://www.econbiz.de/10013036568
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On the fast track: information acquisition costs and information production
Chen, Deqiu; Ma, Yujing; Martin, Xiumin; Michaely, Roni - 2020
Using the introduction of high-speed rail (HSR) as an exogenous shock to costs of information acquisition, we show that reductions in information-acquisition costs lead to (i) a significant increase in information production, evidenced by a higher frequency of analysts visiting portfolio firms,...
Persistent link: https://www.econbiz.de/10012271169