Narrow search
Showing 1 - 10 of 7,256
Cover Image
The Informational Role of Prices
Mirman, Leonard J. - 2017
conveys full information about the quality of the good to uninformed buyers. Deceiving the uninformed buyers by charging a … high price and mimicking a high quality is not profitable when the competitive fringe is large enough. Since a higher price … effect of asymmetric information and learning on the equilibrium outcomes. More uninformed buyers increases the price …
Persistent link: https://www.econbiz.de/10012976764
Cover Image
Noisy signaling in monopoly
Mirman, Leonard J.; Salgueiro, Egas M.; Santugini, Marc - In: International review of economics & finance : IREF 29 (2014), pp. 504-511
Persistent link: https://www.econbiz.de/10010432305
Cover Image
Information acquisition and learning from prices over the business cycle
Mäkinen, Taneli; Ohl, Björn - 2012
informed to uninformed firms, moderates asymmetric incentives in information acquisition and renders the aggregate learning … outcome approximately acyclical. Our results challenge the prevailing view of procyclical learning as the source of asymmetric …
Persistent link: https://www.econbiz.de/10010281437
Cover Image
Information acquisition and learning from prices over the business cycle
Mäkinen, Taneli; Ohl, Björn - 2012
informed to uninformed firms, moderates asymmetric incentives in information acquisition and renders the aggregate learning … outcome approximately acyclical. Our results challenge the prevailing view of procyclical learning as the source of asymmetric … business cycles. -- information choice ; rational expectations ; asymmetric information ; Bayesian learning ; strategic …
Persistent link: https://www.econbiz.de/10009501052
Cover Image
On the Value of Commitment and Availability Guarantees when Selling to Strategic Consumers
Su, Xuanming - 2012
analysis to incorporate dynamic learning, multiple products, and consumer heterogeneity …
Persistent link: https://www.econbiz.de/10012712971
Cover Image
The Social Value of Policy Signals
Avdjiev, Stefan; McGuire, Patrick; Tarashev, Nikola A. - 2014
Do public policy signals improve the alignment of market outcomes with economic fundamentals? Existing work contends that, when individual players have an incentive to coordinate their actions, public policy signals could steer these actions away from the fundamentals. We argue that such a...
Persistent link: https://www.econbiz.de/10014165943
Cover Image
Rational Bubbles and Middlemen
Awaya, Yu - 2019
This paper develops a finite-period model of rational bubbles where trade of an asset takes place through a chain of middlemen. We show that there exists a unique equilibrium, and a bubble can occur due to higher-order uncertainty. Under reasonable assumptions, the equilibrium price is...
Persistent link: https://www.econbiz.de/10012871468
Cover Image
Rational-Expectations Whiplash
Avdis, Efstathios - 2018
We present a financial market with investors who have nested private information. Small perturbations of price informativeness, coming from distortions of dividend expectations, can trigger an oscillating shock throughout the economy that destabilizes the feedback loop between prices and...
Persistent link: https://www.econbiz.de/10012934453
Cover Image
Robust Information Aggregation
Veiel, Rafael - 2022
Consider an investment problem with strategic complementarities and incomplete information about returns. This paper shows that investors aggregate their private information in equilibrium by trading a token and observing its market price over multiple rounds before making the investment...
Persistent link: https://www.econbiz.de/10014239114
Cover Image
Behavioral and experimental macroeconomics and policy analysis : a complex systems approach
Hommes, Cars H. - 2018
This survey discusses behavioral and experimental macroeconomics emphasizing a complex systems perspective. The economy consists of boundedly rational heterogeneous agents who do not fully understand their complex environment and use simple decision heuristics. Central to our survey is the...
Persistent link: https://www.econbiz.de/10011929804