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take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the …
Persistent link: https://www.econbiz.de/10013087422
information about worker ability as the incumbent firm. I develop a model of asymmetric learning that nests the symmetric learning … find strong support for asymmetric information.I first exploit the fact that groups of workers differ in their variances in … interest in my model representing the degree to which information is asymmetric. My estimates imply that in one period, outside …
Persistent link: https://www.econbiz.de/10013087866
. These findings are uniquely predicted by a model in which managers learn information from their peers' valuation …
Persistent link: https://www.econbiz.de/10013090561
From the perspective of hindsight, many researchers have ascribed plausible reasons as to why various firms have prospered and others failed. Some have gone further and worked at understanding how a specific management viewed the world at the time decisions were being made. But, the real...
Persistent link: https://www.econbiz.de/10013092436
output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality … due to asymmetric information, which increases the firm's expected profits …
Persistent link: https://www.econbiz.de/10013093809
A monopolist uses prices as an instrument to influence consumers' belief about the unknown quality of its product. Consumers observe prices and sales in earlier periods to learn about the product. Every period they decide whether to consume the product or to wait for a lower price in future. We...
Persistent link: https://www.econbiz.de/10013065803
output, market price, information flows, and expected profits. The presence of noise may reduce the informational externality … due to asymmetric information, which increases the firm's expected profits …
Persistent link: https://www.econbiz.de/10013071968
What is the relationship between the rate at which firms accumulate their stock of demand over time and the prices that they set for their products? This paper analyzes the implications of customer capital accumulation for pricing behavior and firm dynamics. We build a tractable directed search...
Persistent link: https://www.econbiz.de/10012964220
ante information structure on market outcomes and search behavior; and (2) the effect of imperfect recall on market …
Persistent link: https://www.econbiz.de/10013075811
Based on the frictional matching framework, the paper provides a theoretical model for the two-sided platform in which the number of participants on both sides of the platform and the source of network externalities are endogenously determined. The platform is shown to exhibit both positive...
Persistent link: https://www.econbiz.de/10013156144