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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
anonymity. The standard definition requires that if agents' names are permuted, their assignments should be permuted in the same … way. Since no rule satisfies this definition in this model, we introduce weaker variants, "anonymity on distinct … preferences," "pairwise-anonymity on distinct preferences," "pairwise-anonymity on distinct profiles," and "independence of others …
Persistent link: https://www.econbiz.de/10011421502
weak restrictions on preferences (Local Non-Common Indifference Property) and on the Pareto correspondence (Anonymity) and …
Persistent link: https://www.econbiz.de/10010329994
, 2005) in both anonymity and face-to-face treatments. Subjects consist of students and non-students (citizens) to … in the anonymity treatment, but that is not significantly difference between the anonymity and face-to-face treatments … than in the anonymity treatment; and iv) the receivers who are deceived are more likely to believe a sender's message to be …
Persistent link: https://www.econbiz.de/10010332367
rule is the unique allocation rule satisfying strategy-proofness, anonymity and individual rationality. …
Persistent link: https://www.econbiz.de/10010332504
spread and volatility is weaker after the switch to anonymity. …
Persistent link: https://www.econbiz.de/10010333878
We study strategy-proof rules for choosing between two alternatives. We consider the full preference domain which allows for indifference. In this framework, for strategy proof rules, ontoness does not imply efficiency. We weaken the requirement of efficiency to ontoness and characterizes the...
Persistent link: https://www.econbiz.de/10012013626
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