Showing 1 - 10 of 132
This paper offers a simple but rich framework to study communication subject to various constraints such as anonymity requirements, equal treatment of multiple agents, overconfidence of an expert, and garbling, by extending the cheap talk model of Crawford and Sobel (1982). Common to these...
Persistent link: https://www.econbiz.de/10005047765
This paper examines the implications of "prominence" in search markets.  We model prominence by supposing that the prominent firm will be sampled first by all consumers.  If there are no systematic quality differences among firms, we find that the prominent firm will charge a lower price than...
Persistent link: https://www.econbiz.de/10005047713
This paper demonstrates the incentives for an oligopolist to obfuscate by deliberately increasing the cost with which consumers can locate its product and price.  Consumers are allowed to choose the optimal order in which to search firms and firms are able to influence this order through their...
Persistent link: https://www.econbiz.de/10005051141
A common sales tactic is for a seller to encourage a potential customer to make her purchase decision quickly, before she can investigate rival deals in the market.  We consider a market with sequential consumer search in which firms can achieve this either by making an exploding offer (which...
Persistent link: https://www.econbiz.de/10009318141
A seller wishes to prevent the discovery of rival offers by its prospective customers.  We study sales techniques which serve this purpose by making it harder for a customer to return to buy later after a search for alternatives.  These include making an exploding offer, offering a "buy-now"...
Persistent link: https://www.econbiz.de/10011004264
Search engines enable advertisers to target consumers based on the query they have entered.  In a framework with horizontal product differentiation, imperfect product information and in which consumers incur search costs, I study a game in which advertisers have to choose a price and a set of...
Persistent link: https://www.econbiz.de/10011004434
This paper discusses the incentive to bundle when consumer valuations are non-additive and/or when products are supplied by separate sellers.  Whether integrated or separate, a firm has an incentive to introduce a bundle discount when demand for the bundle is more elastic than the overall...
Persistent link: https://www.econbiz.de/10011004191
This paper presents a pairwise matching model with two-sided information asymmetry to analyse the impact of information costs on endogenous network building and matching by information intermedairies. The framework innovates by examining the role of information costs on incentives for trade...
Persistent link: https://www.econbiz.de/10004977860
The epistemic program in game theory uses formal models of interactive reasoning to provide foundations for various game-theoretic solution concepts. Much of this work is based around the (static) Aumann structure model of interactive epistemology, but more recently dynamic models of interactive...
Persistent link: https://www.econbiz.de/10005047723
We present a model in which a principal delegates the choice of project to an agent with different preferences. A project`s characteristics are verifiable once presented to the principal, but the principal does not know how many projects are available to the agent. The principal chooses the set...
Persistent link: https://www.econbiz.de/10005047815