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作者：Bederson, Benjamin B.; Jin, Ginger Zhe; Leslie, Phillip; Quinn, Alexander J.; Zou, Ben
作者单位：University System of Maryland; University of Maryland College Park; University System of Maryland; University of Maryland College Park; National Bureau of Economic Research; Purdue University System; Purdue University; Michigan State University
摘要：In 2011, Maricopa County adopted voluntary restaurant hygiene grade cards (A, B, C, D). Using inspection results between 2007 and 2013, we show that only 58 percent of the subsequent inspections led to online grade posting. Although the disclosure rate in general declines with inspection outcome, higher-quality A restaurants are less likely to disclose than lower-quality As. After examining potential explanations, we believe the observed pattern is best explained by a mixture of signaling and ...
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作者：Demuynck, Thomas; Seel, Christian
作者单位：Universite Libre de Bruxelles; Maastricht University
摘要：We derive revealed preference tests for models where individuals use consideration sets to simplify their consumption problem. Our basic test provides necessary and sufficient conditions for consistency of observed choices with the existence of consideration set restrictions. The same conditions can also be derived from a model in which the consideration set formation is endogenous and based on subjective prices. By imposing restrictions on these subjective prices, we obtain additional refined...
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作者：Flach, Lisandra; Irlacher, Michael
作者单位：University of Munich; Leibniz Association; Ifo Institut; Centre for Economic Policy Research - UK
摘要：We investigate the effects of better access to foreign markets on innovation strategies of multiproduct firms in industries with different scope for product differentiation. Industry-specific demand and cost linkages induce a distinction between the returns to innovation. In differentiated industries, cannibalization is lower and firms invest more in product innovation. In homogeneous industries, firms internalize intra-firm spillovers and invest more in process innovation. Using firm-level da...
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作者：Harbaugh, Rick; Rasmusen, Eric
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Certifiers of quality often report only coarse grades to the public despite having measured quality more finely, e.g., Pass or Certified instead of 73 out of 100. Why? We show that coarse grades result in more information being provided to the public because the coarseness encourages those of middling quality to apply for certification. Dropping exact grading in favor of the best coarse grading scheme reduces public uncertainty because the extra participation outweighs the coarser reporting. I...
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作者：Kartal, Melis
作者单位：Vienna University of Economics & Business
摘要：New relationships are often plagued with uncertainty because one of the players has some private information about her type. The reputation literature has shown that equilibria that reveal this private information typically involve breach of trust and conflict. But are these inevitable for equilibrium learning? I analyze self-enforcing relationships where one party is privately informed about her time preferences. I show that there always exist honest reputation equilibria, which fully reveal ...
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作者：Levy, Nadav; Spiegel, Yossi; Gilo, David
作者单位：Reichman University; Tel Aviv University; Centre for Economic Policy Research - UK; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Tel Aviv University
摘要：We study the incentive to acquire a partial stake in a vertically related firm and then foreclose rivals. We show that whether such partial acquisitions are profitable depends crucially on the initial ownership structure of the target firm and on corporate governance.
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作者：Igami, Mitsuru
摘要：This paper uncovers a novel pattern of offshoring dynamics in a high-tech industry, and proposes a structural model to explain it. Specifically, the hard disk drive industry (1976-1998) witnessed massive waves of entry, exit, and the relocation of manufacturing plants to low-cost countries, in which shakeouts occurred predominantly among home firms and almost all survivors were offshore firms. I build and estimate a dynamic offshoring game with entry/exit to measure the benefits and costs of o...
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作者：Chambers, Christopher P.; Hayashi, Takashi
作者单位：Georgetown University; University of Glasgow
摘要：Karni and Viero (2013) present an interesting theory of decisions in the presence of new actions and consequences. We establish results on the observable implications of the model. When introducing new consequences, arbitrary preference reversals over feasible actions are permitted. This occurs even if an outside observer can uniquely pin down the decision maker's ordinal ranking over consequences.
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作者：Fehrler, Sebastian; Hughes, Niall
作者单位：University of Konstanz; University of London; King's College London
摘要：We investigate the potential of transparency to influence committee decision-making. We present a model in which career concerned committee members receive private information of different type-dependent accuracy, deliberate, and vote. We study three-levels of transparency under which career concerns are predicted to affect behavior differently and test the model's key predictions in a laboratory experiment. The model's predictions are largely borne out-transparency negatively affects informat...
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作者：Samphantharak, Krislert; Townsend, Robert M.
作者单位：University of California System; University of California San Diego; Massachusetts Institute of Technology (MIT)
摘要：This paper provides a theory-based empirical framework for understanding the risk and return on productive capital assets and their allocation across activities in an economy characterized by idiosyncratic and aggregate risk and thin formal markets for real and financial assets. We apply our framework to households running business enterprises in Thai villages with extensive networks, taking advantage of panel data: income, assets, consumption, gifts, and loans. We decompose risk and estimate ...
