Showing 1 - 10 of 630
information that intermediaries usually carry out. Firstly, we deal with partitions of a given set so as to lay grounds to our … line of research. Secondly, we argue that trade splits up imperfect information sets, over which traders try to negotiate … information is framed so as to stress the fact that any exchange is dual, entailing not only bargaining property rights but also …
Persistent link: https://www.econbiz.de/10010323246
This paper uses a unique panel data set of an insurer's transactions with repeat customers. Consistent with the asymmetric learning hypothesis that repeated contracting enables sellers to obtain an informational advantage over their rivals, I find that the insurer makes higher profits in...
Persistent link: https://www.econbiz.de/10011010011
In financial markets with asymmetric information, traders may have an incentive to forgo profitable deals today in …
Persistent link: https://www.econbiz.de/10010699820
information that intermediaries usually carry out. Firstly, we deal with partitions of a given set so as to lay grounds to our … line of research. Secondly, we argue that trade splits up imperfect information sets, over which traders try to negotiate … information is framed so as to stress the fact that any exchange is dual, entailing not only bargaining property rights but also …
Persistent link: https://www.econbiz.de/10005668695
also studies whether the merged firm has interest to reveal the information about its own cost to competing firms. In terms …
Persistent link: https://www.econbiz.de/10010327580
This paper analyses the profitability of horizontal mergers in a Stackelberg model and their impact on welfare when there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide their production strategy knowing the actual value of...
Persistent link: https://www.econbiz.de/10010368458
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011584863
Asymmetric information in procurement entails double marginalization. The phenomenon is most severe when the buyer has …
Persistent link: https://www.econbiz.de/10012582034
This paper analyses the profitability of horizontal mergers in a Stackelberg model and their impact on welfare when there is uncertainty about the marginal costs of the newly merged firms. The authors consider that the merging firms decide their production strategy knowing the actual value of...
Persistent link: https://www.econbiz.de/10010362519
Consider legal uncertainty as uncertainty about the legality of a specific action. In particular, suppose that the threshold of legality is uncertain. I show that this legal uncertainty raises welfare. Legal uncertainty changes deterrence in opposite directions. The probability of conviction...
Persistent link: https://www.econbiz.de/10011557794