<br/>speculative transactions; (ii) positive price-volume correlation is pervasive across<br/>art movements, and is larger for the most volatile … speculative trading can generate significant<br/>price bubbles, even if trading costs are huge and leverage is impossible. …

This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information … concerning the firms’ cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in … parameter, the optimal mechanism can be implemented by a simple auction. If first best welfare is U-shaped in type, the optimal …

resources better by taking advantage of private sector efficiency, (iii) the risk allocation between the private and public … sector was flawed because the private sector bore too little risk and payments from the public to the private sector were …

In this paper we estimate a New-Keynesian DSGE model with heterogeneity in price and wage setting behavior. In a recent … study, Coibion and Gorodnichenko (2011) develop a DSGE model, in which firms follow four different types of price setting … heterogeneity in wage rigidity, such as the persistence in price and the wage inflation, which a standard New Keynesian model with …

This article presents an econometric analysis of the many data on the sealed-bid auction that sells mussels in Yerseke … price of these mussels, and quantifying the performance of an individual purchase manager. Be- sides a case-study, the … article is a general study on the role of auctions in supply chains and hedonic price factors. …

-shot simultaneous or sealed-bid auction.This case study concerns the mussel trade in Yerseke, the Netherlands.It surprisingly … demonstrates that companies buying large quantities of mussels pay higher unit prices.It also reveals that auction prices react … significantly differently from each other, when accounting for the above price factors and "hedonic price" factors, which represent …

banks can extract market power rents. We show that more bank competition results in lower economy-wide risk, lower bank … allocation and optimal levels of bank risk and capitalization. These results are at variance with those obtained by a large … systemic risk in the economy. …

.The game theoretic solution predicts (assuming risk neutrality) that actors are willing to accept wages below their outside … actors have uncertain risk aversion.The parameters of the game are calibrated to match data on 99 movies for 1989 available …