A monopolistic information provider sells an informative experiment to a large number of perfectly competitive firms … information reduces agency costs and allows firms to increase production, it also results in a lower market price, which reduces … principals willingness to pay for information. We show that, even if information is costless for the provider, the optimal …

We consider a homogenous good oligopoly with identical consumers who learn about prices either by (sequentially …) visiting firms or by consulting a price agency who sells information about which firm charges the lowest price. …

drug substitution and competition. Since 2006, Germany follows an innovative approach by differentiating drug co … from co-payments if their prices undercut a certain price level relative to the reference price. We identify the effect of … the policy on the prices of all affected prescription drugs and differentiate the analysis by firm types (innovative …

drug substitution and competition. Since 2006, Germany follows an innovative approach by differentiating drug co … from co-payments if their prices undercut a certain price level relative to the reference price. We identify the effect of … the policy on the prices of all affected prescription drugs and differentiate the analysis by firm types (innovative …

In real markets, price adjustment and the matching of buyers and sellers involve considerable exchange of information …

Extreme adverse selection arises when private information has unboundedsupport, and market breakdown occurs when no … support of private information converges to an unboundedsupport. A necessary and sufficient condition for market breakdown is …

from a high income country and when competition in the host country is limited. They also perform better when they are …

negative information about the common future value of stocks and futures, he is only able to sell futures. Uninformed traders … is less informative than the futures price even if the informed trader has received positive information. …

We study a general model of common-value second-price auctions with differential information. We show that one of the …. Furthermore when bidder has information advantage other bidders cannot make profit. …