Similar Search Results

Anderlini, Luca; Gerardi, Dino; Lagunoff, Roger - Cowles Foundation for Research in Economics, Yale University - 2008

We study the intergenerational accumulation of knowledge in an infinite-horizon model of communication. Each in a … makers. We ask whether there exist "full learning'' equilibria -- ones in which the players' posterior beliefs eventually … equilibria do not exist. This is so both in the case of private communication in which each player only hears the message of his …

Persistent link: https://www.econbiz.de/10005593160

Efficient Recommender Systems

Bergemann, Dirk; Ozmen, Deran - Cowles Foundation for Research in Economics, Yale University - 2006

We study the efficient allocation of buyers in the presence of recommender systems. A recommender system affects the market in two ways: (i) it creates value by reducing product uncertainty for the customers and hence (ii) its recommendations can be offered as add-ons, which generates...

Persistent link: https://www.econbiz.de/10005593236

Optimal Pricing with Recommender Systems

Bergemann, Dirk; Ozmen, Deran - Cowles Foundation for Research in Economics, Yale University - 2006

We study optimal pricing in the presence of recommender systems. A recommender system affects the market in two ways: (i) it creates value by reducing product uncertainty for the customers and hence (ii) its recommendations can be offered as add-ons which generate informational externalities....

Persistent link: https://www.econbiz.de/10005593425

Pricing in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Cowles Foundation for Research in Economics, Yale University - 2010

Different markets are cleared by different types of prices -- a universal price for all buyers and sellers in some markets, seller-specific prices that are uniform across buyers in others, and personalized prices tailored to both the buyer and the seller in yet others. We introduce the notion of...

Persistent link: https://www.econbiz.de/10008545756

Pricing and Investments in Matching Markets

Mailath, George J.; Postlewaite, Andrew; Samuelson, Larry - Cowles Foundation for Research in Economics, Yale University - 2011

Different markets are cleared by different types of prices -- seller-specific prices that are uniform across buyers in some markets, and personalized prices tailored to the buyer in others. We examine a setting in which buyers and sellers make investments before matching in a competitive market....

Persistent link: https://www.econbiz.de/10009221543

Efficient Search by Committee

Bergemann, Dirk; Valimaki, Juuso - Cowles Foundation for Research in Economics, Yale University - 2011

This note constructs an efficient mechanism for finding the best candidate for a committee from a sequence of potential candidates. Committee members have independent private values information about the quality of the candidate. The mechanism selects the best candidate according to the standard...

Persistent link: https://www.econbiz.de/10008800354

Market Diffusion with Two-Sided Learning

Bergemann, Dirk; Valimaki, Juuso - Cowles Foundation for Research in Economics, Yale University - 1996

The diffusion of a new product of uncertain value is analyzed in a duopolistic market in continuous time. The two sides of the market, buyers and sellers, learn the true value of the new product over time as a result of experimentation. Buyers have heterogeneous preferences over the products and...

Persistent link: https://www.econbiz.de/10005463873

Monopoly Pricing of Experience Goods

Bergemann, Dirk; Valimaki, Juuso - Cowles Foundation for Research in Economics, Yale University - 2004

learning and turnover among buyers. …

Persistent link: https://www.econbiz.de/10004990828

Collaborating

Bonatti, Alessandro; Horner, Johannes - Cowles Foundation for Research in Economics, Yale University - 2009

This paper examines moral hazard in teams over time. Agents are collectively engaged in an uncertain project, and their individual efforts are unobserved. Free-riding leads not only to a reduction in effort, but also to procrastination. The collaboration dwindles over time, but never ceases as...

Persistent link: https://www.econbiz.de/10005000297

Market Experimentation and Pricing

Bergemann, Dirk; Valimaki, Juuso - Cowles Foundation for Research in Economics, Yale University - 1996

We present a continuous-time model of Bayesian learning in a duopolistic market. Initially the value of one product … externality leads to too much learning. Buyers do not consider the impact of their experimentation on other buyers while the … and allocations in this two-sided learning model. The analysis is presented for a finite number of buyers as well as for a …

Persistent link: https://www.econbiz.de/10005093954