An Empirical Analysis of Price Dispersion on the Internet Online price dispersion has remained a puzzle for many years. In this article, we test the effects of a range of factors identified in the literature including vendor strategy, market structure, vendor heterogeneity and the time...

This paper compares the best selling books, cd and dvd on the French Amazon website to those of the Amazon Marketplace which connects professionals and non professionals (individuals) interested in new and second-hand cultural goods. We show that the catalog of the best selling items on Amazon...

<alinea/> In this article, we compare online sales of books to sales in physical stores in France during the period March-August 2006. This is the first work that characterizes the distribution of book sales in France and that analyzes the dynamic interactions between physical and online sales of books...

This econometric study analyzes market bid functions for French Treasury Bills. We use the results of 125 discriminatory bill auctions during 1995 to determine the factors that affect the shape of the aggregate demand functions. We proceed in two step, we estimate the parameters of a logistic...

We study the role of information sources on innovation decision in a two stage sequential probit model. In the first stage, firms decide to innovate or not, while in the second stage they choose the mode of innovation. We estimate parameters of this model in a Bayesian framework in which we use...

How much is the standing timber from public forests worth? To estimate the value of a timber lot, we adopt the transaction evidence appraisal approach using data from timber auctions in Lorraine (Eastern France) accounting for the facts that: (i) the seller's reserve prices are secret, (ii)...

Previous works related to optimal denominations for coins and banknotes consider that the “principle of least effort” that defines an efficient payment is the most important criterion for two main reasons. Firstly, it is more convenient for transactors and, secondly, it limits the production...

We develop an analytical framework that allows central banks to assess whether changing the manufacturing material of their tokens would be beneficial. Applied to the case of the U.S., we find that a complete adoption of plastic notes would save the Fed $140 million per year but would entail a...

Recent works suggest that convenient prices that match monetary denominations exhibit above-average price rigidity and are set up by firms that have incentives to be paid in cash. The relationship between convenient prices and cash usage has however never been explicitly examined. This paper...

One of the most important results of theoretical research on currency systems is that spacing denominations apart by a factor of two is better than a factor of three as this lowers the average number of notes and coins exchanged in transactions. These theoretical studies also claim that an...