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RAND Journal of Economics articles from June 2001
An academic journal featuring articles on macroeconomics. Focuses on industrial organization, regulation, law and economics. Includes empirical and theoretical papers analyzing market behavior and public policy.
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RAND Journal of Economics archives from June 2001
Strategic behavior and price discovery.(research information)
June 22, 2001... We analyze the effects of strategic behavior by a large informed trader in a price discovery process used in opening auctions in continuous trading systems. It is found that the large informed trader manipulates the market using a contrarian...
Advantageous selection in insurance markets.(insurance industry research)
June 22, 2001... This article reverses the standard conclusion that asymmetric information plus competition results in insufficient insurance provision. Risk-tolerant individuals take few precautions and are disinclined to insure, but they are drawn into a...
Bargaining, interdependence, and the rationality of fair division.(research information)
June 22, 2001... We consider two-person bargaining games with interdependent preferences and bilateral incomplete information. We show that in both the ultimatum game and the two-stage alternating-offers game, our equilibrium predictions are consistent with a...
The equivalence of price and quantity competition with delegation.(research information)
June 22, 2001... In a two-stage differentiated-products oligopoly model, profit-maximizing owners first choose incentive schemes in order to influence their managers' behavior. In the second stage, the managers compete either both in prices, both in quantities,...
Downstream integration by a bottleneck input supplier whose regulated wholesale prices are above costs.(economic research)
June 22, 2001... We examine the consequences of allowing a bottleneck input supplier to vertically integrate downstream and compete with users of the input when the input has a regulated price above cost. If the supplier maximizes the sum of short-run profits...
Empirically distinguishing informative and prestige effects of advertising.(research information)
June 22, 2001... This article introduces techniques to empirically distinguish different effects of brand advertising in nondurable, experience-goods markets. I argue that advertisements that give consumers product information should primarily affect consumers...
Managerial career concerns and investments in information.(research information)
June 22, 2001... We extend the "implicit incentives" literature by analyzing how career concerns affect a risk-neutral manager's decision about how much to learn about a project before investing in it. The manager has unknown ability that determines the...
Strategic delegation: An experiment.(research information)
June 22, 2001... We examine the effects of strategic delegation in a simple ultimatum game experiment. We show that when the proposer uses a delegate, her share increases both when the delegate is optional or mandatory. This is true despite the fact that the...
Contractual form and market thickness in trucking.(industry research)
June 22, 2001... A central proposition of the transaction costs literature is that firms will substitute more complicated contractual arrangements for simple spot arrangements when transactions involve relationship-specific investments. I investigate this...