Results 31 to 40 of about 74,567 (47)

Reputation and Efficiency: Information Design

American Economic Journal: Microeconomics
A firm trades with a sequence of consumers who are unsure about the firm's competence and its effort to supply quality. I examine rating systems that sustain efficient outcomes in virtually all trades by providing consumers with information to motivate a
Allen Vong
semanticscholar   +1 more source

Consumer Credit Reporting Data

Journal of Economic Literature
Since the 2000s, economists across fields have increasingly used consumer credit reporting data for research. We introduce readers to the economics and institutional details of these data. Using examples from the literature, we provide practical guidance
Christa Gibbs, Benedict Guttman-Kenney, Donghoon Lee, Scott Nelson, Wilbert van der Klaauw, Jialan Wang   +5 more
semanticscholar   +1 more source

A Model of Populism as a Conspiracy Theory

The American Economic Review
We model populism as the dissemination of a false “alternative reality,” according to which the intellectual elite conspires against the populist for purely ideological reasons.
Ádám Szeidl, F. Szucs
semanticscholar   +1 more source

Welfare Comparisons for Biased Learning

The American Economic Review
We study robust welfare comparisons of learning biases (misspecified Bayesian and some forms of non-Bayesian updating). Given a true signal distribution, we deem one bias more harmful than another if it yields lower objective expected payoffs in all ...
Mira Frick, Ryota Iijima, Y. Ishii
semanticscholar   +1 more source

The Gender Gap in Confidence: Expected But Not Accounted For

Social Science Research Network
We investigate how the gender gap in confidence affects the views that evaluators (e.g., employers) hold about men and women. We find the confidence gap is contagious, causing evaluators to form overly pessimistic beliefs about women.
C. Exley, Kirby Nielsen
semanticscholar   +1 more source

Asymptotic Learning with Ambiguous Information

American Economic Journal: Microeconomics
We study asymptotic learning when the decision-maker faces ambiguity in the precision of her information sources. She aims to estimate a state and evaluates outcomes according to the worst-case scenario. Under prior-by-prior updating, we characterize the
Pëllumb Reshidi, João Thereze, Mu Zhang   +2 more
semanticscholar   +1 more source

Optimal Trade Mechanisms with Adverse Selection and Inferential Naïvety

American Economic Journal: Microeconomics
We study an adverse selection environment in which a buyer's inferential ability is heterogeneous: A rational type correctly infers the value of the good from a seller's offer, whereas a naïve type is inattentive to the correlation between the seller's ...
Takeshi Murooka, Takuro Yamashita
semanticscholar   +1 more source

Price and Choose

American Economic Journal: Microeconomics
We describe a sequential mechanism that fully implements the set of efficient outcomes in environments with quasi-linear utilities. The mechanism asks agents to take turns in defining prices for each outcome, with a final player choosing an outcome for ...
Federico Echenique, Matías Núñez
semanticscholar   +1 more source

Social Learning and Strategic Pricing with Rating Systems

Social Science Research Network
Rating systems, widely used in online transactions, often reduce buyers' diverse opinions to summary statistics. To explore the consequences of this coarse aggregation, we analyze a dynamic adverse selection model where buyers share anonymous evaluations
Chia-Hui Chen, Kong‐Pin Chen, J. Ishida   +2 more
semanticscholar   +1 more source

Underbidding for Oil and Gas Tracts

The American Economic Review
Common values auction models, where bidder decisions depend on noisy signals of common values, provide predictions about Bayesian Nash equilibrium (BNE) outcomes. In settings where these common values can be estimated, these predictions can be tested. We
Julien Martin, Martin Pesendorfer, Jack Shannon   +2 more
semanticscholar   +1 more source