ERN: Search最新文献_第5页

Assignment Mechanisms: Common Preferences and Information Acquisition 分配机制:共同偏好与信息获取

ERN: Search Pub Date : 2019-09-14 DOI: 10.2139/ssrn.3374847

Georgy Artemov

引用次数: 7

Information Choice, Uncertainty, and Expected Returns 信息选择、不确定性与预期收益

ERN: Search Pub Date : 2019-07-31 DOI: 10.2139/ssrn.3231378

C. Cao, David Gempesaw, Timothy T. Simin

引用次数: 4

Keywords, Limited Consideration, and Organic Product Listings: A Duopoly Model 关键词:有限考虑与有机产品目录:双头垄断模型

ERN: Search Pub Date : 2019-07-22 DOI: 10.2139/ssrn.3434339

P. Landry

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引用次数: 0

Short-Term Effects of Managerial Turnover on Performance and Effort: Evidence from the German Bundesliga 管理层变动对表现和努力的短期影响:来自德甲联赛的证据

ERN: Search Pub Date : 2019-07-18 DOI: 10.2139/ssrn.3422019

Janina Kleinknecht, Daniel Würtenberger

引用次数: 0

From Learning to Doing: Diffusion of Agricultural Innovations in Guinea-Bissau 从学习到行动:农业创新在几内亚比绍的传播

ERN: Search Pub Date : 2019-07-01 DOI: 10.3386/W26065

Rute Martins Caeiro

引用次数: 2

Estimation of Sequential Search Model 序列搜索模型的估计

ERN: Search Pub Date : 2019-05-06 DOI: 10.2139/ssrn.3203973

J. Chung, Pradeep K. Chintagunta, S. Misra

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引用次数: 4

Supervisory Enforcement Actions and Bank Deposits 监管执法行动及银行存款

ERN: Search Pub Date : 2019-04-17 DOI: 10.2139/ssrn.3009125

M. Delis, Panagiotis K. Staikouras, C. Tsoumas

引用次数: 14

Sharing Demand Information Under Bounded Wholesale Pricing 有限批发定价下的需求信息共享

ERN: Search Pub Date : 2019-04-12 DOI: 10.2139/ssrn.3370851

Tian Li, Hongtao Zhang

{"title":"Sharing Demand Information Under Bounded Wholesale Pricing","authors":"Tian Li, Hongtao Zhang","doi":"10.2139/ssrn.3370851","DOIUrl":"https://doi.org/10.2139/ssrn.3370851","url":null,"abstract":"The extant research on supply chain information sharing under wholesale pricing often assumes a model where the manufacturer can unilaterally set any wholesale price, and the retailer decides retail quantity or price while taking the wholesale price as given. Whereas this model may actually reflect the relative market power in some situations, it misses out on certain win-win opportunities that could arise from information sharing. When the demand information shared by the retailer is used by the manufacturer to set a more advantageous wholesale price for its own benefit only, the double marginalization effect will often be exacerbated to the detriment of the retailer and even to the supply chain as a whole. Anticipating this consequence, the retailer will cautiously keep its information within its own realm of operations and forego the potential improvement that could result from sharing information with the upstream manufacturer. We propose and analyze a new wholesale pricing mechanism that promotes information sharing between a relatively weaker retailer and a more powerful manufacturer such that both parties become better off. The key feature of the new mechanism is an extra stage of interaction, which happens before the retailer's information sharing decision: at the very outset the manufacturer voluntarily proposes an upper bound and promises not to raise the wholesale price above this bound if the retailer agrees to share information. We show why this new mechanism can be a win-win for a single supply chain and for competing channels.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"40 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"126788627","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Securitization and Liquidity Creation in Markets with Adverse Selection 逆向选择市场中的证券化与流动性创造

ERN: Search Pub Date : 2019-03-11 DOI: 10.2139/ssrn.2932441

Qi Li

{"title":"Securitization and Liquidity Creation in Markets with Adverse Selection","authors":"Qi Li","doi":"10.2139/ssrn.2932441","DOIUrl":"https://doi.org/10.2139/ssrn.2932441","url":null,"abstract":"This paper provides an information-based theory of tranching, a practice in which sellers slice a financial asset into debt securities with different seniority. I use the price posting framework to analyze asset-backed security markets with adverse selection and find that tranching is a robust equilibrium outcome. Tranching decomposes the asset into “information insensitive” and “information sensitive” components. The expected cash flow of the information insensitive component is independent of the seller's private signal, whereas the expected cash flow of the information sensitive component varies with the signal. When buyers are restricted to trade shares of assets, they have to purchase both components proportionally. Tranching, however, allows buyers to disproportionately purchase the information insensitive component. As a result, buyers are less concerned about adverse selection, and total trading volume in the market increases. My model also generates testable predictions on the liquidity of individual debt securities: the selling probability of a debt security increases in its seniority, which is observable to buyers, yet decreases with its performance, which is ex-ante unobservable to buyers; these predictions are supported by my empirical analysis of the non-agency MBS market.","PeriodicalId":153208,"journal":{"name":"ERN: Search","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"114891797","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 5

Selective Bargain Hunting. A Concise Test of Rational Consumer Search 选择性地寻找便宜货。理性消费者搜索的简明测试

ERN: Search Pub Date : 2019-01-27 DOI: 10.2139/ssrn.3335872

Chloe Lee, Wen Long, María J. Luengo‐Prado, Bent E. Sørensen

引用次数: 0