We address the issue of risk aversion in a competitive equilibrium when some buyers engage in learning and information … is conveyed through the price system. Specifically, since the learning process yields uncertainty, we study the effect of …

this points to online platforms facing sleepless nights since any online platform that tries the quiet life of monopoly …

state. Monopoly seller always provides more informative experiments, and to more buyers, than the case of duopoly …

feedback loop”: a process whereby increasing R&D expenses allow dominant online search engines to maintain superior quality and …

later stages in favor of early leaders. Even in the worst-case scenario, where noise swamps ability differences in … determining relative performance, optimal bias is i) strictly positive; ii) locally insensitive to changes in the heterogeneity-to-noise …

We consider an oligopolistic market where firms compete in price and quality and where consumers are heterogeneous in … knowledge: some consumers know both the prices and quality of the products offered, some know only the prices and some know …-inefficiency of the price/quality offers. But, better price/quality combinations are signalled with lower prices in one type and with …