Similar Search Results

Resale Markets and the Assignment of Property Rights

Jehiel, Philippe; Moldovanu, Benny - C.E.P.R. Discussion Papers - 1995

An indivisible good is to be consumed by one of several agents. The consumption involves identity-dependent externalities to the non-consumers. Resale markets for such goods are analysed in various institutional settings with complete information, assuming the agents cannot commit to future...

Persistent link: https://www.econbiz.de/10005124469

Consideration Sets and Competitive Marketing

Eliaz, Kfir; Spiegler, Ran - C.E.P.R. Discussion Papers - 2009

We study a market model in which competing firms use costly marketing devices to influence the set of alternatives which consumers perceive as relevant. Consumers in our model are boundedly rational in the sense that they have an imperfect perception of what is relevant to their decision...

Persistent link: https://www.econbiz.de/10008528545

Bargaining with Imperfect Enforcement

White, Lucy; Williams, Mark - C.E.P.R. Discussion Papers - 2006

The game-theoretic bargaining literature insists on non-cooperative bargaining procedure but allows 'cooperative' implementation of agreements. The effect of this is to allow free-reign of bargaining power with no check upon it. In reality, courts cannot implement agreements costlessly, and...

Persistent link: https://www.econbiz.de/10005662212

Delegated Job Design

Hvide, Hans K; Kaplan, Todd - C.E.P.R. Discussion Papers - 2003

private-information based theory of delegation, where delegation enables high-ability workers to signal their ability by … theory for how misallocation of talent within firms may occur and to the design optimal incentive contracts. …

Persistent link: https://www.econbiz.de/10005123930

Collective Labour Supply: Heterogeneity and Non-Participation

Blundell, Richard William; Chiappori, Pierre-André; … - C.E.P.R. Discussion Papers - 2005

We present identification and estimation results for the 'collective' model of labour supply in which there are discrete choices, censoring of hours and non-participation in employment. We derive the collective restrictions on labour supply functions and contrast them with restrictions implied...

Persistent link: https://www.econbiz.de/10005504396

Competitive Risk Sharing Contracts with One-Sided Commitment

Krueger, Dirk; Uhlig, Harald - C.E.P.R. Discussion Papers - 2004

This Paper analyses dynamic equilibrium risk sharing contracts between profit-maximizing intermediaries and a large pool of ex-ante identical agents that face idiosyncratic income uncertainty that makes them heterogeneous ex-post. In any given period, after having observed their income, the...

Persistent link: https://www.econbiz.de/10005498096

Reason-Based Choice: A Bargaining Rationale for the Attraction and Compromise Effects

de Clippel, Geoffroy; Eliaz, Kfir - C.E.P.R. Discussion Papers - 2009

This paper proposes a model of boundedly rational choice that explains the well known attraction and compromise effects. Choices in our model are interpreted as a cooperative solution to a bargaining problem among an individual’s conflicting dual selves. We axiomatically characterize a unique...

Persistent link: https://www.econbiz.de/10004976794

Subprime Consumer Credit Demand: Evidence from a Lender's Pricing Experiment

Alan, Sule; Lóránth, Gyöngyi - C.E.P.R. Discussion Papers - 2012

Using a unique panel data set from a UK credit card company, we analyze the interest rate sensitivity of subprime credit card borrowers. In addition to all individual transactions and loan terms, we also have access to details of a randomized interest rate experiment conducted by the lender on...

Persistent link: https://www.econbiz.de/10011083560

To Charge or Not to Charge: Evidence from a Health Products Experiment in Uganda

Fischer, Greg; Karlan, Dean S.; McConnell, Margaret; … - C.E.P.R. Discussion Papers - 2014

Pricing policy for any experience good faces a key tradeoff. On one hand, a price reduction increases immediate demand … and hence more people learn about the product. On the other hand, lower prices may serve as price anchors and, through a … evidence of price anchors: future demand is lower after a free distribution than after a distribution at market prices. …

Persistent link: https://www.econbiz.de/10011083717

The home bias of the poor: Terms of trade effects and portfolios across the wealth distribution

Broer, Tobias - C.E.P.R. Discussion Papers - 2012

This paper documents how poorer and less educated US households hold a smaller fraction of foreign assets in their financial portfolio. This average home bias of the poor is partly due to a lower probability of participating in foreign asset markets, often attributed to fixed costs of market...

Persistent link: https://www.econbiz.de/10011083824