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Inverse Adverse Selection: The Market for Gems
Dari-Mattiacci, Giuseppe; Onderstal, Sander; Parisi, … - Tinbergen Institute - 2011
This paper studies markets plagued with asymmetric information on the quality of traded goods. In Akerlof's setting, sellers are better informed than buyers. In contrast, we examine cases where buyers are better informed than sellers. This creates an inverse adverse selection problem: The market...
Persistent link: https://www.econbiz.de/10008838639
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Firm Formation with Complementarities: The Role of the Entrepreneur
Roessler, Christian; Koellinger, Philipp - Tinbergen Institute - 2009
endogenously in a way that admits a stable assignment of workers to firms. This contrasts with existing work on job matching, where …
Persistent link: https://www.econbiz.de/10005016278
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The Effect of Search Frictions on Wages
Berg, Gerard J. van den; Vuuren, Aico van - Tinbergen Institute - 2006
explanations for) positive assortative matching. …
Persistent link: https://www.econbiz.de/10005504886
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Declining Prices in the Sequential Dutch Flower Auction of Roses
Berg, Gerard J. van den; Ours, Jan C. van; Pradhan, Menno P. - Tinbergen Institute - 1999
auction in the world. We find that there is a substantial price decline and suggest that the presence of a buyer's option …, whereby the winner of the first auction has the opportunity to buy the remaining units at the winning price, is a main …
Persistent link: https://www.econbiz.de/10005281959
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Gift-Exchange, Incentives, and Heterogeneous Workers
Non, Arjan - Tinbergen Institute - 2010
Using a formal principal-agent model, I investigate the relation between monetary gift-exchange and incentive pay, while allowing for worker heterogeneity. I assume that some agents care more for their principal when they are convinced that the principal cares for them. Principals can signal...
Persistent link: https://www.econbiz.de/10008513238
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Equilibrium Directed Search with Multiple Applications
Albrecht, James; Gautier, Pieter; Vroman, Susan - Tinbergen Institute - 2003
We analyse a model of equilibrium directed search in a large labour market. Each worker, observing the wages posted at all vacancies, makes a fixed, finite number of applications, a. We allow for the possibility of ex post competition should more than one vacancy want to hire the same worker....
Persistent link: https://www.econbiz.de/10005504927
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Matching with Multiple Applications
Albrecht, James W.; Gautier, Pieter A.; Vroman, Susan B. - Tinbergen Institute - 2001
We analyze the implications of multiple applications by job seekers for the microfoundations of the matching function …
Persistent link: https://www.econbiz.de/10005042226
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Auctions under Payoff Uncertainty: The Case with Heterogeneous Bidder-Aversion to Downside Risk
Hu, Audrey; Zou, Liang - Tinbergen Institute - 2008
This paper characterizes the optimal first-price auction (FPA) and second-price auction (SPA) for selling rights …
Persistent link: https://www.econbiz.de/10005136943
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Bidding to give in the Field: Door-to-Door Fundraisers had it right from the Start
Onderstal, Sander; Schram, Arthur J.C.; Soetevent, … - Tinbergen Institute - 2011
approached about 4500 households, each participating in either an all-pay auction, a lottery, a non-anonymous voluntary … contribution mechanism (VCM), or an anonymous VCM. In contrast to the VCMs, households competed for a prize in the all-pay auction … and the lottery. Although the all-pay auction is the superior fundraising mechanism both in theory and in the laboratory …
Persistent link: https://www.econbiz.de/10009003388
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Dynamic Insurance and Adverse Selection
Janssen, Maarten C.W.; Karamychev, Vladimir A. - Tinbergen Institute - 2001
We take a dynamic perspective on insurance markets under adverse selection and study a generalized Rothschild and Stiglitz model where agents may differ with respect to the accidental probability and their expenditure levels in case an accident occurs. We investigate the nature of dynamic...
Persistent link: https://www.econbiz.de/10005136996