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Optimal degree of public information dissemination
Cornand, Camille; Heinemann, Frank - 2006
environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point …. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public …
Persistent link: https://www.econbiz.de/10010366530
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Limited higher order beliefs and the welfare effects of public information
Cornand, Camille; Heinemann, Frank - 2013
behavior of others. This may lead to welfare-reducing 'overreactions' to public signals as shown by Morris and Shin (2002 … levels of reasoning. This paper analyzes the welfare effects of public information under limited levels of reasoning and … information cannot reduce welfare, unless the policy maker has instruments that are perfect substitutes to private actions. …
Persistent link: https://www.econbiz.de/10009787097
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Limited higher order beliefs and the welfare effects of public information
Cornand, Camille; Heinemann, Frank - In: Journal of economic studies 42 (2015) 6, pp. 1005-1028
Persistent link: https://www.econbiz.de/10011393060
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Optimal policy intervention, constrained obfuscation and the social value of public information
Colombo, Luca; Femminis, Gianluca - In: Economics letters 123 (2014) 2, pp. 224-226
Persistent link: https://www.econbiz.de/10010400273
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Market power and welfare in asymmetric divisible good auctions
Manzano Tovar, Carolina; Vives, Xavier - In: Theoretical economics : TE ; an open access journal in … 16 (2021) 3, pp. 1095-1137
integration may reduce welfare. The results are consistent with the available empirical evidence. …
Persistent link: https://www.econbiz.de/10012806389
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Market power and welfare in asymmetric divisible good auctions
Manzano Tovar, Carolina; Vives, Xavier - 2016
We analyze a divisible good uniform-price auction that features two groups each with a finite number of identical bidders. Equilibrium is unique, and the relative market power of a group increases with the precision of its private information but declines with its transaction costs. In line with...
Persistent link: https://www.econbiz.de/10011580637
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Horizontal Mergers Without Synergies May Increase Consumer Welfare
Stennek, Johan - 2001
Markets with imperfect competition do not induce a cost-minimizing allocation of production between firms. The market's ability to rationalize production is even more limited if costs are private information to firms. Merger in such markets generate an efficiency gain associated with the pooling...
Persistent link: https://www.econbiz.de/10010335172
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Welfare improving discrimination based on cognitive limitations
Sürücü, Oktay - 2013
welfare improving. …
Persistent link: https://www.econbiz.de/10010224767
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On the welfare effects of adverse selection in oligopolistic markets
De Pinto, Marco; Goerke, Laszlo; Palermo, Alberto - 2022
than compensate the welfare reducing impact of market power, irrespective of whether the number of firms is given … exogenously or determined endogenously by a profit constraint. We further show that welfare in a setting with adverse selection … may be higher than the maximized welfare level attainable in a world with perfect observability. …
Persistent link: https://www.econbiz.de/10013387273
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Transparency of information and coordination in economies with investment complementarities
Angeletos, Marios (contributor);  … - 2004 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10002118998