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Endogenous Entry In Markets With Unobserved Quality1
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Book Synopsis Endogenous Entry in Markets with Unobserved Quality by : Anthony Creane
Download or read book Endogenous Entry in Markets with Unobserved Quality written by Anthony Creane and published by BiblioGov. This book was released on 2013-06 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: In markets for experience or credence goods adverse selection can drive out higher quality products and services. This negative implication of asymmetric information about product quality for trading and welfare, poses the question of how such markets first originate. We consider a market in which sellers make observable investment decisions to enter a market in which each seller's quality becomes private information. Entry has the tendency to lower prices, which may lead to adverse selection. The implied price collapse limits the amount of entry so that high prices are sustained in equilibrium, which results in above normal profits. The analysis suggests that rather than observing the canonical market collapse, markets with asymmetric information about product quality may instead be characterized by above normal profits even in markets with low measures of concentration and less entry than would be expected.
Book Synopsis Endogenous Entry in Markets with Unobserved Quality by : Anthony Creane
Download or read book Endogenous Entry in Markets with Unobserved Quality written by Anthony Creane and published by . This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Markets for experience and credence goods can suffer from adverse selection. The negative implication for trading and welfare poses the question of how such markets originate. We consider entry in markets in which each seller's quality becomes private information. Entry lowers prices, which can trigger adverse selection. The anticipated price collapse limits entry so that high prices are sustained, resulting in above normal profits. The analysis suggests that rather than observing the canonical market collapse, markets with asymmetric information about quality may have above normal profits and less entry than would be expected even when there is low concentration.
Book Synopsis The Inefficiency of Market Transparency by : Yiquan Gu
Download or read book The Inefficiency of Market Transparency written by Yiquan Gu and published by . This book was released on 2010 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Innovation, Entry into Multiple Markets and Unobserved Heterogeneity by : Ganna Pogrebna
Download or read book Innovation, Entry into Multiple Markets and Unobserved Heterogeneity written by Ganna Pogrebna and published by . This book was released on 2014 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper considers an experimental market entry game, where the decision problem involves several heterogeneous markets and players have an opportunity to enter several markets simultaneously. We find that groups fail to coordinate on any of the multiple pure strategy Nash equilibria by exhibiting excess entry in the majority of rounds. The likelihood of overentry depends on the market capacity and characteristics of the experimental markets. We also find that, on average, the behavior of the individual participants can be reconciled with the mixed strategy equilibrium prediction. Yet, this prediction fails to account for the differences in the individual profiles. By conducting an econometric estimation that accounts for the unobserved heterogeneity, we show that market capacity, expectations about the number of entrants, the amount of payoff from the previous period and the history of over- or underentry have significant impact on the individual action choice.
Book Synopsis Does What You Export Matter? by : Daniel Lederman
Download or read book Does What You Export Matter? written by Daniel Lederman and published by World Bank Publications. This book was released on 2012-06-18 with total page 153 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does what economies export matter for development? If so, can industrial policies improve on the export basket generated by the market? This book approaches these questions from a variety of conceptual and policy viewpoints. Reviewing the theoretical arguments in favor of industrial policies, the authors first ask whether existing indicators allow policy makers to identify growth-promoting sectors with confidence. To this end, they assess, and ultimately cast doubt upon, the reliability of many popular indicators advocated by proponents of industrial policy. Second, and central to their critique, the authors document extraordinary differences in the performance of countries exporting seemingly identical products, be they natural resources or 'high-tech' goods. Further, they argue that globalization has so fragmented the production process that even talking about exported goods as opposed to tasks may be misleading. Reviewing evidence from history and from around the world, the authors conclude that policy makers should focus less on what is produced, and more on how it is produced. They analyze alternative approaches to picking winners but conclude by favoring 'horizontal-ish' policies--for instance, those that build human capital or foment innovation in existing and future products—that only incidentally favor some sectors over others.
Book Synopsis Repeated Games and Reputations by : George J. Mailath
Download or read book Repeated Games and Reputations written by George J. Mailath and published by Oxford University Press. This book was released on 2006-09-28 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt: Personalized and continuing relationships play a central role in any society. Economists have built upon the theories of repeated games and reputations to make important advances in understanding such relationships. Repeated Games and Reputations begins with a careful development of the fundamental concepts in these theories, including the notions of a repeated game, strategy, and equilibrium. Mailath and Samuelson then present the classic folk theorem and reputation results for games of perfect and imperfect public monitoring, with the benefit of the modern analytical tools of decomposability and self-generation. They also present more recent developments, including results beyond folk theorems and recent work in games of private monitoring and alternative approaches to reputations. Repeated Games and Reputations synthesizes and unifies the vast body of work in this area, bringing the reader to the research frontier. Detailed arguments and proofs are given throughout, interwoven with examples, discussions of how the theory is to be used in the study of relationships, and economic applications. The book will be useful to those doing basic research in the theory of repeated games and reputations as well as those using these tools in more applied research.
Book Synopsis Decisions, Games and Markets by : Pierpaolo Battigalli
Download or read book Decisions, Games and Markets written by Pierpaolo Battigalli and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 373 pages. Available in PDF, EPUB and Kindle. Book excerpt: Decisions, Games and Markets is designed to stimulate new developments in decision theory, game theory and general equilibrium theory, as well as in their applications to economics. The book is divided into three parts - Decision Theory, Game Theory, and the Theory of Markets. Though its orientation is primarily methodological, some articles are more applied. The consistent use of formal analysis and methodological individualism constitutes the unifying theme of the book. Decisions, Games and Markets will be of considerable interest to both students and teachers of microeconomics and game and decision theory.
Book Synopsis Social Epidemiology by : Lisa F. Berkman
Download or read book Social Epidemiology written by Lisa F. Berkman and published by Oxford University Press. This book was released on 2000-03-09 with total page 428 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows the important links between social conditions and health and begins to describe the processes through which these health inequalities may be generated. It reviews a range of methodologies that could be used by health researchers in this field and proposes innovative future research directions.
Book Synopsis Managing Disruptions in Business by : Rajagopal
Download or read book Managing Disruptions in Business written by Rajagopal and published by Springer Nature. This book was released on 2022-01-11 with total page 437 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume discusses business disruptions as strategic to gain market competitiveness. It analyzes the convergence of innovation and technology, business practices, public policies, political ideologies, and consumer values to strengthen competitive business practices through disruptions. Bringing together contributions from global experts, the chapters add to knowledge on contemporary business models, business strategies, radical interventions in manufacturing, services, and marketing organizations. Disruptive innovations led by contemporary trends, tend to transform the market and consumers’ landscape. These trends include shifts from closed to open models of innovation, servitization, and moving from conventional manufacturing and marketing paradigms to industry 4.0 business philosophy. Focused on the triadic themes of disruption, innovation, and management in emerging markets, this book serves as a valuable compendium for research in entrepreneurship development, regional business and development, contemporary political ideologies, and changing social values.
Book Synopsis Product Quality by : Johannes Evangelista Benedictus Maria Steenkamp
Download or read book Product Quality written by Johannes Evangelista Benedictus Maria Steenkamp and published by . This book was released on 1989 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Molecular Epidemiology by : Paul A. Schulte
Download or read book Molecular Epidemiology written by Paul A. Schulte and published by Academic Press. This book was released on 2012-12-02 with total page 609 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book will serve as a primer for both laboratory and field scientists who are shaping the emerging field of molecular epidemiology. Molecular epidemiology utilizes the same paradigm as traditional epidemiology but uses biological markers to identify exposure, disease or susceptibility. Schulte and Perera present the epidemiologic methods pertinent to biological markers. The book is also designed to enumerate the considerations necessary for valid field research and provide a resource on the salient and subtle features of biological indicators.
Book Synopsis Overeducation in Europe by : the late Felix Büchel
Download or read book Overeducation in Europe written by the late Felix Büchel and published by Edward Elgar Publishing. This book was released on 2003-01-01 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Overeducation is one of the most important mechanisms for labor market adjustment when there is an excess supply of high-skilled workers. However, there is much debate about the consequences of this phenomena and the short and long term effects for both the overeducated worker and the economy as a whole. This book contributes to our understanding of recent developments in the research on overeducation by providing a detailed overview of the pertinent theoretical and policy issues."
Book Synopsis Social Capital and Health by : Ichiro Kawachi
Download or read book Social Capital and Health written by Ichiro Kawachi and published by Springer Science & Business Media. This book was released on 2008 with total page 295 pages. Available in PDF, EPUB and Kindle. Book excerpt: As interest in social capital has grown over the past decade—particularly in public health —so has the lack of consensus on exactly what it is and what makes it worth studying. Ichiro Kawachi, a widely respected leader in the field, and 21 contributors (including physicians, economists, and public health experts) discuss the theoretical origins of social capital, the strengths and limitations of current methodologies of measuring it, and salient examples of social capital concepts informing public health practice. Among the highlights: Measurement methods: survey, sociometric, ethnographic, experimental The relationship between social capital and physical health and health behaviors: smoking, substance abuse, physical activity, sexual activity Social capital and mental health: early findings Social capital and the aging community Social capital and disaster preparedness Social Capital and Health is certain to inspire a new generation of research on this topic, and will be of interest to researchers and advanced students in public health, health behavior, and social epidemiology.
Book Synopsis Pay for Performance in Health Care by : Jerry Cromwell
Download or read book Pay for Performance in Health Care written by Jerry Cromwell and published by RTI Press. This book was released on 2011-02-28 with total page 388 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides a balanced assessment of pay for performance (P4P), addressing both its promise and its shortcomings. P4P programs have become widespread in health care in just the past decade and have generated a great deal of enthusiasm in health policy circles and among legislators, despite limited evidence of their effectiveness. On a positive note, this movement has developed and tested many new types of health care payment systems and has stimulated much new thinking about how to improve quality of care and reduce the costs of health care. The current interest in P4P echoes earlier enthusiasms in health policy—such as those for capitation and managed care in the 1990s—that failed to live up to their early promise. The fate of P4P is not yet certain, but we can learn a number of lessons from experiences with P4P to date, and ways to improve the designs of P4P programs are becoming apparent. We anticipate that a “second generation” of P4P programs can now be developed that can have greater impact and be better integrated with other interventions to improve the quality of care and reduce costs.
Book Synopsis Handbook of Olive Oil: Analysis and Properties by : Ramon Aparicio
Download or read book Handbook of Olive Oil: Analysis and Properties written by Ramon Aparicio and published by Springer Science & Business Media. This book was released on 2013-11-09 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: This new olive oil handbook provides a wealth of detail about the analysis and properties of olives and their oil. It covers technological aspects and biochemistry, a description of detailed techniques, and an analysis of olive oil from the standpoint of general methodology.
Book Synopsis The Practice of Econometrics by : H. Neudecker
Download or read book The Practice of Econometrics written by H. Neudecker and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the autumn of 1961 Jan Salomon ('Mars') Cramer was appointed to the newly established chair of econometrics at the University of Amsterdam. This volume is published to commemorate this event. It is well-known how much econometrics has developed over the period under consideration, the 25 years that elapsed between 1961 and 1986. This is specifically true for the areas in which Cramer has been actively interested. We mention the theory and measurement of consumer behaviour; money and income; regression, correla tion and forecasting. In the present volume this development will be high lighted. Sixteen contributions have been sollicited from scholars all over the world who have belonged to the circle of academic friends of Cramer for a shorter or longer part of the period of 25 years. The contributions fall broadly speaking into the four areas mentioned above. Theory and measurement of consumer behaviour is represented by four papers, whereas a fifth paper deals with a related area. Richard Blundell and Costas Meghir devote a paper to the estimation of Engel curves. They apply a discrete choice model to British (individual) data from the Family Expenditure Survey 1981. Their aim is to assess the impact of individual characteristics such as income, demographic structure, location, wages and prices on commodity expenditure.
Book Synopsis Banking on Women Leaders: A Case for More? by : Ms.Ratna Sahay
Download or read book Banking on Women Leaders: A Case for More? written by Ms.Ratna Sahay and published by International Monetary Fund. This book was released on 2017-09-07 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: Using a new dataset, we measure the large gap between the representation of men and women in leadership positions in banks and bank supervision agencies worldwide. Women occupied less than 2 percent of bank CEOs positions, and less than 20 percent of the board seats in more than 80 percent of the observations across banks over time. Contrary to common perceptions, many low- and middle-income countries have a higher share of women in bank boards and banking supervision agency boards compared to advanced economies. Econometric analysis suggests that, controlling for relevant bank and country-specific factors, the presence of women as well as a higher share of women on bank boards is associated with greater bank stability, as represented by higher z-scores and lower nonperforming loan ratios. We also examine the share of women on boards of banking supervision agencies by compiling a new dataset. We find that it is associated with greater bank stability. Further research is needed to identify specific mechanisms through which these stability benefits are achieved, and to understand the conditions that have facilitated entry of women into leadership roles in banks and supervision agencies.
