Arbeitspapier
Competition on common value markets with naèive traders: a theoretical and experimental analysis
Theoretically and experimentally, we generalize the analysis of acquiring a company (Samuelson and Bazerman 1985) by allowing for competition of both, buyers and sellers. Naivety of both is related to the idea that higher prices exclude worse qualities. While competition of naive buyers increases prices, competition of naive sellers promotes effciency enhancing trade. Our predictions are tested experimentally.
- Sprache
-
Englisch
- Erschienen in
-
Series: Jena Economic Research Papers ; No. 2007,105
- Klassifikation
-
Wirtschaft
Microeconomic Behavior: Underlying Principles
Market Structure, Pricing, and Design: Monopoly
Market Structure, Pricing, and Design: Oligopoly and Other Forms of Market Imperfection
Auctions
Allocative Efficiency; Cost-Benefit Analysis
Asymmetric and Private Information; Mechanism Design
Oligopoly and Other Imperfect Markets
Information and Product Quality; Standardization and Compatibility
- Thema
-
Übernahme
Wettbewerb
Auktionstheorie
Unvollkommene Information
Test
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Chlaß, Nadine
Güth, Werner
- Ereignis
-
Veröffentlichung
- (wer)
-
Friedrich Schiller University Jena and Max Planck Institute of Economics
- (wo)
-
Jena
- (wann)
-
2007
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:43 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Chlaß, Nadine
- Güth, Werner
- Friedrich Schiller University Jena and Max Planck Institute of Economics
Entstanden
- 2007
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