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作者：Vartiainen, Hannu
作者单位：University of Helsinki
摘要：In anonymous platforms like the Internet, committing to honor the outcome of an auction is difficult since the seller can benefit by reauctioning the good. We argue that how information is processed within the auction mechanism is crucially important in such circumstances. In our model, the seller uses an intermediary to extract information from the buyers but is not tied to sell the good with terms that the mechanism proposes. Instead, she may reauction the good again via some other intermedi...
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作者：Cingano, Federico; Pinotti, Paolo
摘要：We quantify the private returns and social costs of political connections exploiting a unique longitudinal dataset that combines matched employeremployee data for a representative sample of Italian firms with administrative archives on the universe of individuals appointed in local governments over the period 19851997. According to our results, the revenue premium granted by political connections amounts to 5.7% on average, it is obtained through changes in domestic sales but not in exports, a...
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作者：Koning, Pierre; van der Wiel, Karen
作者单位：Vrije Universiteit Amsterdam
摘要：This paper analyzes whether information about the quality of high schools published in a national newspaper affects school choice in the Netherlands. We find that negative (positive) school-quality scores decrease (increase) the number of first-year students who choose a school after the year of publication. These effects are only large for the college-preparatory track, such that a school receiving the most positive score for its most academic track sees 1618 more first-year students enroll. ...
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作者：Michelacci, Claudio; Schivardi, Fabiano
摘要：Several imperfections can prevent entrepreneurs from diversifying away the idiosyncratic risk of their business. As a result idiosyncratic risk discourages entrepreneurial activity and hinders growth, with the effects being stronger in economies with lower risk diversification opportunities. In accordance with this prediction, we find that OECD countries with low levels of risk diversification opportunities (as measured by the relevance of family firms or of widely held companies) perform rela...
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作者：Herweg, Fabian; Mierendorff, Konrad
作者单位：University of Munich; University of Zurich
摘要：We consider a model of firm pricing and consumer choice, where consumers are loss averse and uncertain about their future demand. Possibly, consumers in our model prefer a flat rate to a measured tariff, even though this choice does not minimize their expected billing amounta behavior in line with ample empirical evidence. We solve for the profit-maximizing two-part tariff, which is a flat rate if (a) marginal costs are not too high, (b) loss aversion is intense, and (c) there are strong varia...
