A monopolist data intermediary collects consumer information that it strategically sells to competing firms in a product market for price discrimination purposes. The intermediary charges a price of information and chooses the optimal partition that maximizes the willingness to pay of firms for...

Credence goods markets are characterized by pronounced informational asymmetries between consumers and expert sellers. As a consequence, consumers are often exploited and market efficiency is threatened. However, in the digital age, it has become easy and cheap for consumers to self-diagnose...

Credence goods markets are characterized by pronounced informational asymmetries between consumers and expert sellers. As a consequence, consumers are often exploited and market efficiency is threatened. However, in the digital age, it has become easy and cheap for consumers to self-diagnose...

Using a global sample of 2,357 attempted initial coin offerings (ICOs), we examine whether ICO rating providers act as information intermediaries that may reduce information asymmetry and the associated adverse selection problem in the crypto-tokens market. We find that issuer-supplied voluntary...

Credence goods markets are characterized by pronounced informational asymmetries between consumers and expert sellers. As a consequence, consumers are often exploited and market efficiency is threatened. However, in the digital age, it has become easy and cheap for consumers to self-diagnose...

We survey a recent and growing literature on markets for information. We offer a comprehensive view of information markets through an integrated model of consumers, information intermediaries, and firms. The model embeds a large set of applications ranging from sponsored search advertising to...

This paper reports on experiments testing the viability of markets for cheap talk information. We find that the poor quality of the information transmitted leads to a collapse of information markets. The reasons for this are surprising given the previous experimental results on cheap-talk games....

We survey a recent and growing literature on markets for information. We offer a comprehensive view of information markets through an integrated model of consumers, information intermediaries, and firms. The model embeds a large set of applications ranging from sponsored-search advertising to...

Fokus dieser Arbeit ist es ein tiefergehendes Verständnis über den Einfluss von kognitiven Verzerrungen auf die Innovationsbewertung mit Informationsmärkten zu schaffen. Hierfür wird der Einfluss von Selbstüberschätzung auf die Innovationsbewertung mit Informationsmärkten in zwei...

Vast amounts of information result from business and consumer search, communication, and transactions. All this information can enhance market efficiency and consumer surplus as firms tailor products to buyers. But, there is increased risk of information loss. What issues should be on the...

Informationen sind anders als normale, insbesondere private Güter, was bei der ökonomischen Analyse zu berücksichtigen ist. An den Beispielen Wissenschaft und Internet werden einige Besonderheiten von Informationen vorgestellt und Folgerungen daraus gezogen.

Vast amounts of information result from business and consumer search, communication, and transactions. All this information can enhance market efficiency and consumer surplus as firms tailor products to buyers. But, there is increased risk of information loss. What issues should be on the...

"Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers decide what to produce based on their understanding of what buyers want. But the distribution of market information has changed, as consumers increasingly turn to sources that...

We used Wall Street Journal survey data for the period 2006 - 2010 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from)...

We used Wall Street Journal survey data for the period 2006 - 2010 to analyze whether forecasts of house prices and housing starts provide evidence of (anti-)herding of forecasters. Forecasts are consistent with herding (anti-herding) of forecasters if forecasts are biased towards (away from)...

Selten hat ein wettbewerbspolitischer Fall so viel Interesse und Kontroversen hervorgerufen wie der E-Book-Fall rund um Amazon, bei dem führende Verlage und große Unternehmen wie Apple involviert sind. Doch dieser spiegelt nur eine von vielen unternehmerischen Vorgehensweisen Amazons wider....

Prediction (or information) markets are markets where participants trade contracts whose payoff depends on unknown future events. Studying prediction markets allows to avoid many problems, which arise in some artificially designed behavioral experiments investigating collective decision making...

Politicians may pander to public opinion and may renounce undertaking beneficial long-term projects. To alleviate this problem, we introduce a triple mechanism involving political information markets, reelection threshold contracts, and democratic elections. An information market is used to...

The regulatory breakthrough of competition law: definitions and worries / Mariateresa Maggiolino -- Anti-anti regulation: the supplanting of industry regulators with competition agencies and how antitrust suffers as a result / Adi Ayal -- (Re-)joining the regulatory fold : problem-solving...

"This book addresses the question of whether or not information has become a commodity and examines how infonomics and the "business of free" have changed the way companies must create and market their information to make it most accessible and valuable for their consumers"--Provided by publisher.

This book addresses the question of whether or not information has become a commodity and examines how infonomics and the "business of free" have changed the way companies must create and market their information to make it most accessible and valuable for their consumers. - Provided by publisher

A situation in which a finite set of players can obtain certain payoffs by cooperation can be described by a cooperative game with transferable utility, or simply a TU-game. A (single-valued) solution for TU-games assigns a payoff distribution to every TU-game. A well-known solution is the...

In this paper we build a formal model to study market environments where information is costly to acquire and is of use also to potential competitors. In such situations a market for information may form, where reports - of unverifiable quality - over the information acquired are sold. A...

Lack of information is a severe barrier to effective participation by developing countries in the international trade regime. Information systems in international regimes are the sets of institutions, actors and procedures involved in collecting, analysing and disseminating information about...