A market where short-lived customers interact with a long-lived expert is considered. An expert privately observes whether or not a particular treatment is necessary for his customers and has an incentive to recommend the treatment even if it is unnecessary. Customers imperfectly observe the...

Building upon the static model of Athey and Ellison (2008), we demonstrate the efficient convergence of dynamic position auctions in the presence of consumer search. The entry of low-quality advertisers does not slow this convergence. Our methods are extensions of those introduced by Cary et al....

We give a set of sufficient conditions for uniqueness of a time-consistent Markov stationary consumption policy for a quasi-hyperbolic household under uncertainty. To the best of our knowledge, this uniqueness result is the first presented in the literature for general settings, i.e. under...

We study the question of existence and computation of time-consistent Markov policies of quasi-hyperbolic consumers under a stochastic transition technology and borrowing constraints. Under standard assumptions on preferences, as well as a mild geometric condition on a transition probabilities,...

In this paper, we study a conditional upgrade strategy that has recently emerged in the travel industry. After a consumer makes a reservation for a product (e.g., a hotel room), she is asked whether she would like to upgrade her product to a higher-quality (more expensive) one at a discounted...

An important branch of economic research on emotions has used power-to-take game experiments to study the impact of negative emotions, such as anger, irritation and contempt, on the decision to punish. We investigate experimentally the role that the specific punishment technology adopted plays...

This paper experimentally investigates how monetary incentives and emotions influence behaviour in a two-player power-to-take game. In this game, one player can claim any part of the other's endowment (take rate), and the second player can respond by destroying his or her own endowment. We focus...

This paper experimentally investigates how monetary incentives and emotions influence behaviour in a two-player power-to-take game. In this game, one player can claim any part of the other's endowment (take rate), and the second player can respond by destroying his or her own endowment. We focus...

This chapter examines how the original tenets of the affect-as-information hypothesis can be extended to explain a wide range of judgment phenomena, especially with respect to consumer decision making. To this end, research within social psychology as well as research from other fields such as...