A number of products that display positive network effects are used in variable quantities by heterogeneous customers. Examples include corporate operating systems, infrastructure software, web services and networking equipment. In many of these contexts, the magnitude of network effects are...

This paper presents a model of price screening for goods with network effects, by a monopoly seller, and by an entry-deterring monopolist. These products are used in variable quantities by heterogeneous customers, the magnitude of network effects is influenced by gross consumption, rather than...

The value of information regarding risk class for a monopoly insurer and its customers is examined in both symmetric and asymmetric information environments. A monopolist always prefers contracting with uninformed customers as this maximizes the rent extracted under symmetric information while...

The value of information regarding risk class for a monopoly insurer and its customers is examined in both symmetric and asymmetric information environments. A monopolist always prefers contracting with uninformed customers as this maximizes the rent extracted under symmetric information while...

We examine the conditions required for the existence of private credit bureaus, their ownership and coverage. Our model implies that bank consortia will most likely be preferred by banks, but that they will lead to restricted coverage. Independent credit bureaus have higher coverage, but they...

This paper describes how state-of-the-art methods of choice modeling can be used to analyze consumer choice behavior in "competitive" health insurance markets. I use the insurance choices of senior citizens in the U.S. as an example. I then consider the issue of whether consumers benefit when we...

A monopolist sells goods with possibly a characteristic consumers dislike (for instance, he sells random goods to risk averse agents), which does not affect the production costs. We investigate the question whether using undesirable goods is profitable to the seller. We prove that in general...

Specificity of the product of creative labor and the impossibility of testing raises a number of problems for cultural markets. One of the effects of information asymmetry in the market is adverse selection, which leads to a deterioration in the quality of services and goods on the market. This...

This paper proposes an approach to the analysis of market failure on creative and cultural market. The author examines the impact of information asymmetries on the market of cultural valuables. Conclusions include suggestion on possibility of solution based on pure art criticism or other...

This paper proposes an approach to the analysis of market failure on creative and cultural market. The author examines the impact of information asymmetries on the market of cultural valuables. Conclusions include suggestion on possibility of solution based on pure art criticism or other...