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Pricing when customers have limited attention
Boyacı, Tamer; Akçay, Yalçın - 2016
We study the optimal pricing problem of a firm facing customers with limited attention and capability to process … firm's price optimization problem and characterize the pricing and revenue implications of customer's limited attention. We … heterogeneity, and study extensions such as multiple products, competition, and joint inventory and pricing decisions. We also show …
Persistent link: https://www.econbiz.de/10011438630
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Pricing when customers have limited attention
Boyacı, Tamer; Akçay, Yalçın - 2017
We study the optimal pricing problem of a firm facing customers with limited attention and capability to process … firm's price optimization problem and characterize the pricing and revenue implications of customer's limited attention. We … heterogeneity, and study extensions such as multiple products, competition, and joint inventory and pricing decisions. We also show …
Persistent link: https://www.econbiz.de/10011595110
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Questionable luxury taxes: Results from a mating game
Thomas, Tobias - 2008
This contribution provides a game theoretical derivation of market demand as a function of the level and distribution of income in the considered economy: if (i) the price is low, everyone buys the good; if (ii ) the price is high, only the rich buy the good (a status good in a narrow sense). If...
Persistent link: https://www.econbiz.de/10010270373
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Rationally inattentive preferences and hidden information costs
de Oliveira, Henrique; Denti, Tommaso; Mihm, Maximilian; … - In: Theoretical Economics 12 (2017) 2, pp. 621-654
We show how information acquisition costs can be identified using observable choice data. Identifying information costs from behavior is especially relevant when these costs depend on factors-such as time, effort, and cognitive resources-that are difficult to observe directly, as in models of...
Persistent link: https://www.econbiz.de/10012010080
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Distorted Voronoi languages
Förster, Manuel; Riedel, Frank - 2011
In a recent paper, Jäger, Metzger, and Riedel (2011) study communication games of common interest when signals are simple and types complex. They characterize strict Nash equilibria as so-called Voronoi languages that consist of Voronoi tesselations of the type set and Bayesian estimators on...
Persistent link: https://www.econbiz.de/10010319996
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Voronoi languages: Equilibria in cheap-talk games with high-dimensional types and few signals
Jäger, Gerhard; Koch-Metzger, Lars; Riedel, Frank - 2009
We study a communication game of common interest in which the sender observes one of infinite types and sends one of finite messages which is interpreted by the receiver. In equilibrium there is no full separation but types are clustered into convex categories. We give a full characterization of...
Persistent link: https://www.econbiz.de/10010272564
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Randomization in contracts with endogenous information
Terstiege, Stefan - 2011
I consider a situation, where the agent can acquire payoff-relevant information either before or after the contract is signed. To raise efficiency, the principal might solicit information; to retain all surplus, however, she must prevent precontractual information gathering. The following class...
Persistent link: https://www.econbiz.de/10010293370
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Information acquisition in conflicts
Morath, Florian; Münster, Johannes - 2010
This paper considers incentives for information acquisition ahead of conflicts. First, we characterize the (unique) equilibrium of the all-pay auction between two players with one-sided asymmetric information where one player has private information about his valuation. Then, we use ou rresults...
Persistent link: https://www.econbiz.de/10010334005
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The moderating effects of national culture on the development of organizational learning culture: A multilevel study across seven countries
Škerlavaj, Miha; Su, Chunke; Huang, Meikuan - In: Journal for East European Management Studies 18 (2013) 1, pp. 97-134
This study examines the moderating effects of national culture dimensions (Hofstede 1980) on three key elements in the development of organisational learning culture: information acquisition, information interpretation and behavioral and cognitive changes. Data were collected from 1333 companies...
Persistent link: https://www.econbiz.de/10010369053
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Credence goods, costly diagnosis, and subjective evaluation
Bester, Helmut; Dahm, Matthias - 2014
We study contracting between a consumer and an expert. The expert can invest in diagnosis to obtain a noisy signal about whether a low-cost service is sufficient or whether a high-cost treatment is required to solve the consumer's problem. This involves moral hazard because diagnosis effort and...
Persistent link: https://www.econbiz.de/10011444292