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Despite widespread use in online transactions, rating systems only provide summary statistics of buyers' diverse opinions at best. To investigate the consequences of this coarse form of information aggregation, we consider a dynamic lemons market in which buyers share their evaluations...
Persistent link: https://www.econbiz.de/10014540467
Despite widespread use in online transactions, rating systems only provide summary statistics of buyers' diverse opinions at best. To investigate the consequences of this coarse form of information aggregation, we consider a dynamic lemons market in which buyers share their evaluations...
Persistent link: https://www.econbiz.de/10014233329
In this paper we provide a simple new version of Arrow’s impossibility theorem, in a world with only one preference profile. This theorem relies on a new assumption of preference diversity, and we explore alternative notions of preference diversity at length.
Persistent link: https://www.econbiz.de/10010318976
this switch to anonymity on market liquidity and the informational content of the limit order book. Our empirical analysis … anonymity alters the informational content of the bid-ask spread and market liquidity. For our sample stocks, we find that the … switch to anonymity in Euronext paris has significantly reduced the average quoted spread and the average effective spread …
Persistent link: https://www.econbiz.de/10010308662
We study a stochastic model of influence where agents have "yes" or "no" inclinations on some issue, and opinions may change due to mutual influence among the agents. Each agent independently aggregates the opinions of the other agents and possibly herself. We study influence processes modelled...
Persistent link: https://www.econbiz.de/10010313214
anonymity, hiding-proofness and strategy-proofness. In particular, we prove that a priority rule is strategy-proof if and only …
Persistent link: https://www.econbiz.de/10010316052
not provide anonymity between experimenter and subject. It has been argued that this lack of experimenter …-subject anonymity may create selfish incentives to engage in seemingly other-regarding behavior. If this were the case these experiments … differences within and across studies make it difficult to isolate the impact of experimenter-subject anonymity on prosocial …
Persistent link: https://www.econbiz.de/10010316822
It is commonly believed that borrowers cannot be anonymous in unsecured credit relations because anonymity heavily … borrowers cannot be directly punished due to their anonymity, there is still scope for punishment. One possibility is based on …. Although credit and anonymity are not mutually exclusive, we also show that maintaining a borrower's anonymity is costly. …
Persistent link: https://www.econbiz.de/10015046550
with similarities to the floor of the NYSE. Our main hypothesis is that the non-anonymity allows the specialist to assess … pronounced than the quote adjustment after transactions at prices inside the spread. Our results indicate that anonymity comes at …
Persistent link: https://www.econbiz.de/10010263065
anonymity in the laboratory with a repeated two-stage public goods game with exclusion. When first-stage contributions are …
Persistent link: https://www.econbiz.de/10010266673