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We consider the case of an upstream seller who works to improve an asset that has been specialized to a downstream buyer's needs. The buyer then makes a take it or leave it offer to the seller about how the future surplus should be split. We assume that the seller from the outset has private...
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We investigate whether incentive schemes signal social norms and thus affect behavior beyond their direct economic consequences. A principal-agent experiment is studied in which prior to contract choice principals are informed about past actions of other agents and thus have more information...
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Costly signaling is a mechanism through which the honesty of signals can be secured in equilibrium, even in … interactions where communicators have conflicting interests. This paper explores the dynamics of one such signaling game: Spence …
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This series of discussions presents commentaries and a rejoinder on the economic perspectives on branding arising from Moorthy (Moorthy S. (2012) Can brand extension signal product quality? Marketing Sci. 31(5):756-770)
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