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Facilitating Consumer Learning in Insurance Markets -- What Are the Welfare Effects?
Lagerlöf, Johan N. M. - 2013
What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show that his results are robust: For a small information...
Persistent link: https://www.econbiz.de/10013072906
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Facilitating Consumer Learning in Insurance Markets - What Are the Welfare Effects?
Lagerlöf, Johan N. M. - 2014
What are the welfare effects of a policy that facilitates for insurance customers to privately and covertly learn about their accident risks? We endogenize the information structure in Stiglitz's classic monopoly insurance model. We first show that his results are robust: For a small information...
Persistent link: https://www.econbiz.de/10013060905
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Learning by Consuming : Optimal Pricing with Endogenous Information Provision
Guo, Huiyi; He, Wei; Liu, Bin - 2022
We study the revenue-maximizing mechanism when a buyer’s value evolves endogenously because of learning-by-consuming. A … compatibility. Our results help to understand contracts about sequential consumption with the learning feature; e.g., leasing …
Persistent link: https://www.econbiz.de/10013491620
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Attributes : Selective Learning and Influence
Bardhi, Arjada - 2020
When different stages of the evaluation of a multi-attribute project rest with conflicting economic actors, which attributes are selectively explored and why? We provide a model of attribute sampling in which correlation across attributes is flexibly modeled through Gaussian processes. In the...
Persistent link: https://www.econbiz.de/10012847347
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Dynamic Pricing Under Social Learning with Strategic Consumers
Bhalla, Manaswini - 2014
. We find that the firm encourages social learning for a greater range of beliefs and has greater expected revenue when it …
Persistent link: https://www.econbiz.de/10013065803
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Learning Temporal Preferences
Palacios-Huerta, Ignacio; Miravete, Eugenio J. - 2003
We analyze households' responses to an unanticipated change in consumption opportunities and evaluate their implications for the nature and formation of preferences. We study the tariff experiment conducted by South Central Bell where local telephone tariffs were introduced for the first time in...
Persistent link: https://www.econbiz.de/10014107895
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The Sound of Silence : Observational Learning in the U.S. Kidney Market
Zhang, Juanjuan - 2010
-level dynamic model of observational learning, and applies it to a novel data set from the U.S. kidney market where transplant … learning: patients draw negative quality inferences from earlier refusals in the queue, thus becoming more inclined towards … show that observational learning and information sharing shape consumer choices in markedly different ways. Optimal …
Persistent link: https://www.econbiz.de/10014054192
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Screening Inattentive Buyers
Mensch, Jeffrey - 2022
Information plays a crucial role in mechanism design problems. A potential complication is that buyers may be inattentive, and so their information may endogenously and flexibly depend on the offered mechanism. I show that it is without loss of generality to consider contour mechanisms, which...
Persistent link: https://www.econbiz.de/10013306514
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Strategic information suppression in borrowing and pre-lending cognition : theory and evidence
Chen, Zhongwen; Zhao, Xiaojian - In: Games 14 (2023) 3, pp. 1-24
This paper theoretically studies the interaction between an informed borrower and an uninformed lender facing possible default of a loan application. The lender is motivated to invest cognitive resources before making a lending decision. If the regulatory fine is weak, it is impossible for a...
Persistent link: https://www.econbiz.de/10014422638
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Strategic inattention in product search
Hillenbrand, Adrian; Hippel, Svenja - 2017
Online platforms provide search tools that help consumers to get betterfitting product offers. But this technology makes consumer search behavior also easily traceable for the platform and allows for real-time price discrimination. Consumers face a trade-off: Search intensely and receive better...
Persistent link: https://www.econbiz.de/10011737481