Showing 1 - 10 of 11
on all dimensions of the good (price, level of non monetary attributes), and these are evaluated using a scoring rule. We …
Persistent link: https://www.econbiz.de/10005497976
This Paper deals with collective decision making within a group of independent jurisdictions. The right to choose the public policy is delegated from the central authority of one of the jurisdictions through a bidding procedure among the group members. We identify the following trade-off:...
Persistent link: https://www.econbiz.de/10005661614
a royalty based on the resale price of an original work of art. This paper provides an empirical analysis of actual … changes in the UK auction market for art that is subject to the Droit de Suite (DDS), relative to changes for art not subject … to the DDS, and also relative to changes in the auction markets for art in countries where there has been no change in …
Persistent link: https://www.econbiz.de/10005662156
. For any number of objects and bidders, both the pure bundling auction and separate, efficient auctions for the single … objects are revenue-inferior to an auction that involves mixed bundling. …
Persistent link: https://www.econbiz.de/10005667050
This paper considers price determination by monopolistic sellers who know the distribution of valuations among the … potential buyers. We derive a novel condition under which the optimal price set by the monopolist is unique. In many settings … carry over to the optimal minimum price in independent private value auctions. In addition, they can be fruitfully applied …
Persistent link: https://www.econbiz.de/10005789129
This Paper develops a simple new methodology to test for asset integration and applies it within and between American stock markets. Our technique is tightly based on a general intertemporal asset-pricing model, and relies on estimating and comparing expected risk-free rates across assets....
Persistent link: https://www.econbiz.de/10005497716
This Paper develops a simple but general methodology to estimate the expected intertemporal marginal rate of substitution or ‘EMRS’, using only data on asset prices and returns. Our empirical strategy is general, and allows the EMRS to vary arbitrarily over time. A novel feature of our...
Persistent link: https://www.econbiz.de/10005656417
This Paper analyses the effect of a possible takeover on information flows and on the terms of trade in business relationships. We consider a long-term relationship between a firm and a privately-informed stakeholder, a buyer for example. In our model, takeovers both increase the surplus from...
Persistent link: https://www.econbiz.de/10005662138
This Paper characterizes the integration patterns of international currency unions (such as the CFA Franc zone and the East Caribbean Currency Area). We empirically explore different features of currency unions, and compare them both to countries with sovereign monies, and to regions within...
Persistent link: https://www.econbiz.de/10005666442
constant markups. The differences are important quantitatively; price differences in Hungarian exports between Germany and the …
Persistent link: https://www.econbiz.de/10008530371