Narrow search
Showing 1 - 10 of 7,100
Cover Image
Competition fosters trust
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - In: Games and Economic Behavior 76 (2012) 1, pp. 195-209
We study the effects of reputation and competition in a trust game. If trustees are anonymous, outcomes are poor …: trustees are not trustworthy, and trustors do not trust. If trustees are identifiable and can, hence, build a reputation … minimal information, eliminates the trust problem almost completely. …
Persistent link: https://www.econbiz.de/10011049711
Cover Image
Competition Fosters Trust
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - 2006
anonymous, such markets perform poorly: sellers are not trustworthy, and buyers do not trust sellers. If sellers are …, we find that competition, coupled with some minimal information, eliminates the trust problem almost completely …
Persistent link: https://www.econbiz.de/10014054391
Cover Image
Bounded rationality in principal-agent relationships
Erlei, Mathias; Schenk-Mathes, Heike Yasmin - 2012 - Version: January 5, 2012
We conducted six treatments of a standard moral hazard experiment with hidden action. All treatments had identical Nash equilibria. However, the behavior in all treatments and periods was inconsistent with established agency theory (Nash equilibrium). In the early periods of the experiment,...
Persistent link: https://www.econbiz.de/10010481417
Cover Image
Price competition and reputation in markets for experience goods : an experimental study
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - 2015 - September 2013, revised March 2015
We experimentally examine the effects of price competition in markets for expe-rience goods where sellers can build up reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed (somewhere between the endogenous oligopoly and...
Persistent link: https://www.econbiz.de/10010498486
Cover Image
Price competition and reputation in markets for experience goods : an experimental study
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - 2013
We experimentally examine the effects of price competition in markets for experience goods where sellers can build up reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed (somewhere between the endogenous oligopoly and...
Persistent link: https://www.econbiz.de/10010188722
Cover Image
Price competition and reputation in markets for experience goods: An experimental study
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - 2015
We experimentally examine the effects of price competition in markets for expe-rience goods where sellers can build up reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed (somewhere between the endogenous oligopoly and...
Persistent link: https://www.econbiz.de/10010500562
Cover Image
Price competition and reputation in markets for experience goods: An experimental study
Huck, Steffen; Lünser, Gabriele K.; Tyran, Jean-Robert - Abteilung "Ökonomik des Wandels", Wissenschaftszentrum … - 2015
We experimentally examine the effects of price competition in markets for expe-rience goods where sellers can build up reputations for quality. We compare price competition to monopolistic markets and markets where prices are exogenously fixed (somewhere between the endogenous oligopoly and...
Persistent link: https://www.econbiz.de/10011213915
Cover Image
The Logic of Business Groups : A Moral Hazard Perspective
Johnsen, Gudrun; Zheng, Yu - 2021
This paper offers a new perspective on why business groups are formed. Specifically, we ask if the expectation of a government bailout lowers group-affiliated firms’ cost of capital. Using a quasi-natural experiment, we show that group-affiliated firms paid lower interest when a government...
Persistent link: https://www.econbiz.de/10013313080
Cover Image
Intermediation in a Sharing Economy : Insurance, Moral Hazard, and Rent Extraction
Weber, Thomas A. - 2017
Electronic intermediaries have become pervasive in sales transactions for many durables, such as cars, power tools, and apartments. Yet only recently have they successfully tackled the challenge of enabling parties to share such goods. A key impediment to sharing is a lender's concern about...
Persistent link: https://www.econbiz.de/10012973222
Cover Image
Hidden Action and Outcome Contractibility : An Experimental Test of Moral Hazard Theory
Hoppe, Eva I.; Schmitz, Patrick W. - 2019
In a laboratory experiment with 754 participants, we study the canonical one-shot moral hazard problem, comparing treatments with unobservable effort to benchmark treatments with verifiable effort. In our experiment, the players endogenously negotiate contracts. In line with contract theory, the...
Persistent link: https://www.econbiz.de/10014105234