Market Distortions When Agents Are Better Informed

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Market Distortions When Agents are Better Informed

Author : Steven D. Levitt
Publisher :
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Market Distortions When Agents are Better Informed by : Steven D. Levitt

Download or read book Market Distortions When Agents are Better Informed written by Steven D. Levitt and published by . This book was released on 2010 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: Agents are often better informed than the clients who hire them and may exploit this informational advantage. Real-estate agents, who know much more about the housing market than the typical homeowner, are one example. Because real estate agents receive only a small share of the incremental profit when a house sells for a higher value, there is an incentive for them to convince their clients to sell their houses too cheaply and too quickly. We test these predictions by comparing home sales in which real estate agents are hired by others to sell a home to instances in which a real estate agent sells his or her own home. In the former case, the agent has distorted incentives; in the latter case, the agent wants to pursue the first-best. Consistent with the theory, we find homes owned by real estate agents sell for about 3.7 percent more than other houses and stay on the market about 9.5 days longer, even after controlling for a wide range of housing characteristics. Situations in which the agent's informational advantage is larger lead to even greater distortions.

Market Distortions when Agents are Better Informed

Author : Steven D. Levitt
Publisher :
ISBN 13 :
Total Pages : 56 pages
Book Rating : 4.0/5 ( download)

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Book Synopsis Market Distortions when Agents are Better Informed by : Steven D. Levitt

Download or read book Market Distortions when Agents are Better Informed written by Steven D. Levitt and published by . This book was released on 2005 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Agents are often better informed than the clients who hire them and may exploit this informational advantage. Real-estate agents, who know much more about the housing market than the typical homeowner, are one example. Because real estate agents receive only a small share of the incremental profit when a house sells for a higher value, there is an incentive for them to convince their clients to sell their houses too cheaply and too quickly. We test these predictions by comparing home sales in which real estate agents are hired by others to sell a home to instances in which a real estate agent sells his or her own home. In the former case, the agent has distorted incentives; in the latter case, the agent wants to pursue the first-best. Consistent with the theory, we find homes owned by real estate agents sell for about 3.7 percent more than other houses and stay on the market about 9.5 days longer, even after controlling for a wide range of housing characteristics. Situations in which the agent's informational advantage is larger lead to even greater distortions"--National Bureau of Economic Research web site.

Market Distortions when Agents are Better Informed

Author : Steven D. Levitt
Publisher :
ISBN 13 :
Total Pages : 90 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Market Distortions when Agents are Better Informed by : Steven D. Levitt

Download or read book Market Distortions when Agents are Better Informed written by Steven D. Levitt and published by . This book was released on 2002 with total page 90 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Market distortions when agents are better informed : the value of information in real estate

Author : Steven D. Levitt
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (12 download)

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Book Synopsis Market distortions when agents are better informed : the value of information in real estate by : Steven D. Levitt

Download or read book Market distortions when agents are better informed : the value of information in real estate written by Steven D. Levitt and published by . This book was released on 2005 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:

How to Take Advantage of the People Who Are Trying to Take Advantage of You

Author : Jsb Morse
Publisher : Joseph Morse
ISBN 13 : 1600200400
Total Pages : 213 pages
Book Rating : 4.6/5 (2 download)

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Book Synopsis How to Take Advantage of the People Who Are Trying to Take Advantage of You by : Jsb Morse

Download or read book How to Take Advantage of the People Who Are Trying to Take Advantage of You written by Jsb Morse and published by Joseph Morse. This book was released on 2006-10 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Would you be interested in making $20,000 from mere pennies? Have you ever wished you could make money off your credit cards instead of paying the interest on them? Have you ever imagined buying a cross-country flight for the amount it takes to fill up your gas tank? How would you like to make $180 an hour, or get a top-of-the-line cell phone for free? Do you feel underpaid and underappreciated at work? If these questions strike a chord, you've found the right audiobook. Joseph S. B. Morse, author of The Evolution Diet, turns his attention to personal finance in this entertaining and informative book. He reveals how, for centuries, financial institutions like banks, credit cards, retail stores, and even the government have been taking advantage of our natural human tendencies. It's time to reverse that trend and it's time to start taking advantage of the people who are trying to take advantage of you! In this audiobook, you'll find engaging descriptions of these major economic industries and 50 smart ways to capitalize on the system. Morse isn't talking about scamming the system or doing anything questionably legal, he's suggesting clever, time-tested, and legal techniques to help you maximize the financial benefits from companies you already do business with. You're about to embark on a journey to regain control over your finances and direct you to over $100,000 in earnings and savings with the peace of mind that you are not being taken advantage of any more. It's time to start taking advantage of the people who are trying to take advantage of you! https: //code-interactive.com/ad-in

Why Not Better and Cheaper?

Author : James B. Rebitzer
Publisher : Oxford University Press
ISBN 13 : 0197603122
Total Pages : 268 pages
Book Rating : 4.1/5 (976 download)

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Book Synopsis Why Not Better and Cheaper? by : James B. Rebitzer

Download or read book Why Not Better and Cheaper? written by James B. Rebitzer and published by Oxford University Press. This book was released on 2023-06-20 with total page 268 pages. Available in PDF, EPUB and Kindle. Book excerpt: An engaging account of innovation in healthcare and why the results fall short for patients and society. The evolution of the cell phones we carry in our pockets demonstrates that quality can increase while prices fall. Why doesn't healthcare also get better and cheaper? In Why Not Better and Cheaper?, James B. Rebitzer and Robert S. Rebitzer offer an answer to this question. Bringing together research on incentives, social norms, and market competition, they argue that the healthcare system generates the wrong kinds of innovation. It is too easy to profit from low-value innovations and too hard to profit from innovations that reduce the costs of care. The result is a healthcare system that is profusely innovative yet remarkably ineffective in discovering ways to deliver increased value at lower cost. Why Not Better and Cheaper? sheds new light on the trajectory of innovation in healthcare, and how to point innovation in a better direction.

Freedomnomics

Author : John R. Lott
Publisher : Simon and Schuster
ISBN 13 : 1596981334
Total Pages : 290 pages
Book Rating : 4.5/5 (969 download)

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Book Synopsis Freedomnomics by : John R. Lott

Download or read book Freedomnomics written by John R. Lott and published by Simon and Schuster. This book was released on 2007-06-04 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Are free market economies really based on fleecing the consumer? Is the U.S. economy truly just a giant free-for-all that encourages duplicity in our everyday transactions? Is everyone from corporate CEOs to your local car salesman really looking to make a buck at your expense? In Freedomnomics: Why the Free Market Works and Other Half-Baked Theories Don't, economist and bestselling author John R. Lott, Jr., answers these and other common economic questions, bravely confronting the profound distrust of the market that the bestselling book Freakonomics has helped to popularize. Using clear and hard-hitting examples, Lott shows how free markets liberate the best, most creative, and most generous aspects of our society - while efforts to constrain economic liberty, no matter how well-intentioned, invariably lead to increased poverty and injustice.

Dealmaking

Author : Guhan Subramanian
Publisher : W. W. Norton & Company
ISBN 13 : 0393339955
Total Pages : 257 pages
Book Rating : 4.3/5 (933 download)

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Book Synopsis Dealmaking by : Guhan Subramanian

Download or read book Dealmaking written by Guhan Subramanian and published by W. W. Norton & Company. This book was released on 2011-08-22 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: “Packed with transformative insights, Dealmaking will help a new generation of business leaders get to yes.”—William Ury, coauthor of Getting to Yes Informed by meticulous research, field experience, and classroom-tested strategies, Dealmaking offers essential insights for anyone involved in buying or selling everything from cars to corporations. Leading business scholar Guhan Subramanian provides a lively tour of both negotiation and auction theory, then takes an in-depth look at his own hybrid theory, outlining three specific strategies readers can use in complex dealmaking situations. Along the way, he examines case studies as diverse as buying a house, haggling over the rights to a TV show, and participating in the auction of a multimillion-dollar company. Based on broad research and detailed case studies, Dealmaking brings together negotiation and auction strategies for the first time, providing the jargon-free, empirically sound advice professionals need to close the deal. Originally published in hardcover under the title Negotiauctions.

Game-Changer: Game Theory and the Art of Transforming Strategic Situations

Author : David McAdams
Publisher : W. W. Norton & Company
ISBN 13 : 0393242773
Total Pages : 285 pages
Book Rating : 4.3/5 (932 download)

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Book Synopsis Game-Changer: Game Theory and the Art of Transforming Strategic Situations by : David McAdams

Download or read book Game-Changer: Game Theory and the Art of Transforming Strategic Situations written by David McAdams and published by W. W. Norton & Company. This book was released on 2014-01-27 with total page 285 pages. Available in PDF, EPUB and Kindle. Book excerpt: A radically new, and easily learned, way to outstrategize your rivals. “The wise win before they fight, while the ignorant fight to win.” So wrote Zhuge Liang, the great Chinese military strategist. He was referring to battlefield tactics, but the same can be said about any strategic situation. Even seemingly certain defeat can be turned into victory—whether in battle, business, or life—by those with the strategic vision to recognize how to “change the game” to their own advantage. The aim of David McAdams’s Game-Changer is nothing less than to empower you with this wisdom—not just to win in every strategic situation (or “game”) you face but to change those games and the ecosystems in which they reside to transform your life and our lives together for the better. Game-Changer develops six basic ways to change games—commitment, regulation, cartelization, retaliation, trust, and relationships—enlivened by countless colorful characters and unforgettable examples from the worlds of business, medicine, finance, military history, crime, sports, and more. The book then digs into several real-world strategic challenges, such as how to keep prices low on the Internet, how to restore the public’s lost trust in for-charity telemarketers, and even how to save mankind from looming and seemingly unstoppable drug-resistant disease. In each case, McAdams uses the game-theory approach developed in the book to identify the strategic crux of the problem and then leverages that “game-awareness” to brainstorm ways to change the game to solve or at least mitigate the underlying problem. So get ready for a fascinating journey. You’ll emerge a deeper strategic thinker, poised to change and win all the games you play. In doing so, you can also make the world a better place. “Just one Game-Changer [is] enough to seed and transform an entire organization into a more productive, happier, and altogether better place,” McAdams writes. Just imagine what we can do together.

Full Value

Author : Jack Richards
Publisher : Greenleaf Book Group
ISBN 13 : 1626346852
Total Pages : 212 pages
Book Rating : 4.6/5 (263 download)

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Book Synopsis Full Value by : Jack Richards

Download or read book Full Value written by Jack Richards and published by Greenleaf Book Group. This book was released on 2020-03-03 with total page 212 pages. Available in PDF, EPUB and Kindle. Book excerpt: Your Guide to the Best Way to Sell Your Home When it comes time to sell, homeowners today face an overwhelming amount of advice on how to sell quickly and for the highest price possible. For these sellers, trying to understand what actions truly matter when selling a home can feel like an impossible task. And selling a home the wrong way can result in sellers losing out on thousands of dollars of potential finance gain. Fortunately, research has shown how taking a few select actions can make a significant difference in the sale price of the home, a difference worth 5% or even 10% of the value of the home. In Full Value, real estate agent, management consultant, and strategy expert Jack Richards shows homeowners, real estate agents, and investors how to identify and showcase sources of value in residential property. Drawing insights from academic and industry studies, Full Value provides homeowners with practical, fact-based advice on how to sell their homes for maximum value. The value-enhancing strategies in this book will show you how to sell your home at a higher price and for greater profit than would be possible otherwise.

Handbook of Regional and Urban Economics, vol. 5B

Author : Gilles Duranton
Publisher : Elsevier
ISBN 13 : 0444595406
Total Pages : 967 pages
Book Rating : 4.4/5 (445 download)

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Book Synopsis Handbook of Regional and Urban Economics, vol. 5B by : Gilles Duranton

Download or read book Handbook of Regional and Urban Economics, vol. 5B written by Gilles Duranton and published by Elsevier. This book was released on 2015-05-15 with total page 967 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developments in methodologies, agglomeration, and a range of applied issues have characterized recent advances in regional and urban studies. Volume 5 concentrates on these developments while treating traditional subjects such as housing, the costs and benefits of cities, and policy issues beyond regional inequalities. Contributors make a habit of combining theory and empirics in each chapter, guiding research amid a trend in applied economics towards structural and quasi-experimental approaches. Clearly distinguished from the New Economic Geography covered by Volume 4, these articles feature an international approach that positions recent advances within the discipline of economics and society at large. Editors are recognized as leaders and can attract an international list of contributors Regional and urban studies interest economists in many subdisciplines, such as labor, development, and public economics Table of contents combines theoretical and applied subjects, ensuring broad appeal to readers

Markets and Institutions in Real Estate and Construction

Author : Michael Ball
Publisher : John Wiley & Sons
ISBN 13 : 0470757566
Total Pages : 280 pages
Book Rating : 4.4/5 (77 download)

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Book Synopsis Markets and Institutions in Real Estate and Construction by : Michael Ball

Download or read book Markets and Institutions in Real Estate and Construction written by Michael Ball and published by John Wiley & Sons. This book was released on 2008-04-15 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book explains why the real estate and construction industries are organised in the ways they are and then relates those characteristics to long-term market behaviour. It covers market dynamics - supply and demand; the interaction of property development and construction – and examines institutions and market structures. Real estate development and construction tend to be separate subjects in the literature. But construction is an inevitable part of any property development process and so has a major influence on the institutional structure of development. Markets & Institutions in Real Estate & Construction argues that these structures are best explained as a series of modern economic theories, based on competition and current production technologies. offers focus and breadth, and deal with controversial debates economic arguments made accessible through a non-technical writing style presents long-run international comparison of property market behaviour reflects internationalisation of property and construction markets

Make Money as a Buyer's Agent

Author : Chantal Howell Carey
Publisher : John Wiley & Sons
ISBN 13 : 0470051256
Total Pages : 242 pages
Book Rating : 4.4/5 (7 download)

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Book Synopsis Make Money as a Buyer's Agent by : Chantal Howell Carey

Download or read book Make Money as a Buyer's Agent written by Chantal Howell Carey and published by John Wiley & Sons. This book was released on 2007-02-02 with total page 242 pages. Available in PDF, EPUB and Kindle. Book excerpt: Traditionally, real estate agents help home sellers get the best deal on their home, but no one covers the buyer’s side. This guide shows you how to make the switch from representing sellers to representing buyers, so you can keep making money even as the seller’s market slows down. Learn to earn big commissions, no matter what happens to the market.

Research Handbook on the Economics of Insurance Law

Author : Daniel Schwarcz
Publisher : Edward Elgar Publishing
ISBN 13 : 1782547142
Total Pages : 549 pages
Book Rating : 4.7/5 (825 download)

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Book Synopsis Research Handbook on the Economics of Insurance Law by : Daniel Schwarcz

Download or read book Research Handbook on the Economics of Insurance Law written by Daniel Schwarcz and published by Edward Elgar Publishing. This book was released on 2015-08-28 with total page 549 pages. Available in PDF, EPUB and Kindle. Book excerpt: The fields of insurance law and insurance economics have long and distinguished scholarly histories, but participants in the two disciplines have not always communicated well across academic silos. This Handbook encourages more policy-relevant insurance e

From Big Data to Big Profits

Author : Russell Walker
Publisher : Oxford University Press
ISBN 13 : 0190260696
Total Pages : 313 pages
Book Rating : 4.1/5 (92 download)

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Book Synopsis From Big Data to Big Profits by : Russell Walker

Download or read book From Big Data to Big Profits written by Russell Walker and published by Oxford University Press. This book was released on 2015-07-01 with total page 313 pages. Available in PDF, EPUB and Kindle. Book excerpt: Technological advancements in computing have changed how data is leveraged by businesses to develop, grow, and innovate. In recent years, leading analytical companies have begun to realize the value in their vast holdings of customer data and have found ways to leverage this untapped potential. Now, more firms are following suit and looking to monetize Big Data for big profits. Such changes will have implications for both businesses and consumers in the coming years. In From Big Data to Big Profits, Russell Walker investigates the use of Big Data to stimulate innovations in operational effectiveness and business growth. Walker examines the nature of Big Data and how businesses can use it to create new monetization opportunities. Using case studies of Apple, Netflix, Google, LinkedIn, Zillow, Amazon, and other leaders in the use of Big Data, Walker explores how digital platforms such as mobile apps and social networks are changing the nature of customer interactions and the way Big Data is created and used by companies. Such changes, as Walker points out, will require careful consideration of legal and unspoken business practices as they affect consumer privacy. Companies looking to develop a Big Data strategy will find great value in the SIGMA framework, which he has developed to assess companies for Big Data readiness and provide direction on the steps necessary to get the most from Big Data. Rigorous and meticulous, From Big Data to Big Profits is a valuable resource for students, researchers, and professionals with an interest in Big Data, digital platforms, and analytics

Game Theory and Society

Author : Weiying Zhang
Publisher : Routledge
ISBN 13 : 1351330977
Total Pages : 665 pages
Book Rating : 4.3/5 (513 download)

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Book Synopsis Game Theory and Society by : Weiying Zhang

Download or read book Game Theory and Society written by Weiying Zhang and published by Routledge. This book was released on 2017-12-14 with total page 665 pages. Available in PDF, EPUB and Kindle. Book excerpt: The progress of society can only happen through interpersonal cooperation, because only cooperation can bring about mutual benefit, thus bringing happiness to each person. This should be our collective rationality, but we often see it conflicts with individual interests, which leads to the so-called "Prisoners’ Dilemma" and does not bring happiness to all. From a game theoretical perspective, this book addresses the issue of how people can cooperate better. It has two objectives. The first is to use common language to systematically introduce the basic methodologies and core conclusions of Game Theory, including the Nash equilibrium, multiple equilibriums, dynamic games, etc. Mathematics and theoretical models are used to the minimum necessary scope too, to make this book get access to ordinary readers with elementary mathematical training. The second objective is to utilize these methods and conclusions to analyze various Chinese social issues and institutional arrangements, with a focus on the reasons people exhibit non-cooperative behaviors as well as the institutions and cultures that promote interpersonal cooperation. In addition to economics, specialists in sociology, law, history, politics and management will also be attracted by this book for its insightful analysis on the issue of cooperation in these fields. Also, readers curious about Chinese society will benefit from this book.

Household Financial Management

Author : Sumit Agarwal
Publisher : World Scientific
ISBN 13 : 9811267146
Total Pages : 322 pages
Book Rating : 4.8/5 (112 download)

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Book Synopsis Household Financial Management by : Sumit Agarwal

Download or read book Household Financial Management written by Sumit Agarwal and published by World Scientific. This book was released on 2023-10-18 with total page 322 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is dedicated to showcasing the importance of household financial management through the lens of academic research, with the goal of enhancing the financial well-being of individuals.Through an exploration of households' financial choices over their lifecycle, the book aims to provide a comprehensive understanding of households' financial decision-making processes, grounded in economic models, policies, and data.This holistic perspective encompasses an awareness of the functioning of different market types and an appreciation of various cognitive and behavioral biases. As a result, readers would be better positioned to make informed financial choices.By further integrating theories and empirical evidence from economics and finance, the book provides readers with insights into actions they can take to circumvent common financial pitfalls and offers solutions for effectively addressing them.Supplementary Material Resources:Resources are available to students who adopt this textbook for their courses. These include: (1) PowerPoint deck. Please contact [email protected].