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  • 01 Jun 2008
  • News

Greed, Gullibility, and Optimism

reestablish equilibrium. And until equilibrium is reestablished, there is little prospect of stable or modestly increasing prices. Is the future as bleak as it sounds? There’s always hope. Markets do correct, eventually. There will always... View Details
Keywords: Deborah Blagg; Finance; Management; Real Estate
  • 11 Jun 2013
  • First Look

First Look: June 11

markets are closer (a better fit) to one firm than to the other, and that certain knowledge is more transferable across markets (less market specific). We then solve the model computationally and identify three equilibrium... View Details
Keywords: Carmen Nobel
  • 08 Oct 2013
  • First Look

First Look: October 8

ad platform, and advertiser entry strategies are derived using symmetric Bayes-Nash equilibrium that lead to the VCG outcome of the ad auctions. Consistent with our model of participation costs, we find empirical evidence that... View Details
Keywords: Sean Silverthorne
  • 08 May 2007
  • First Look

First Look: May 8, 2007

Unlike the VCG mechanism, GSP generally does not have an equilibrium in dominant strategies, and truth-telling is not an equilibrium of GSP. To analyze the properties of GSP, we describe the generalized... View Details
Keywords: Martha Lagace
  • 26 Apr 2011
  • First Look

First Look: April 26

expected profits. Using an extension to the newsvendor model, we focus on a relatively common scenario in which the firm's investor has imperfect information concerning the quality of the firm's investment opportunities. We apply Perfect Bayesian View Details
Keywords: Sean Silverthorne
  • 17 Jul 2018
  • First Look

New Research and Ideas, July 17, 2018

in tastes. Our framework allows us to characterize matching equilibrium in a flexible way that includes as special cases the classic fully- and non-transferable utility models, collective models, and settings with taxes on transfers,... View Details
Keywords: Dina Gerdeman
  • 30 Oct 2018
  • First Look

New Research and Ideas, October 30, 2018

attention of claimants and respondents. The model allows us to interpret our empirical facts in equilibrium and to quantify the effects of changes to the current arbitrator selection process on consumer outcomes. Competition between... View Details
Keywords: Dina Gerdeman
  • 02 Apr 2013
  • First Look

First Look: April 2

possibility of platforms investing in "educating" unsophisticated users. In a competitive environment, such education is a public good among platforms and therefore the equilibrium level is lower than the one that would maximize... View Details
Keywords: Sean Silverthorne
  • 14 Apr 2009
  • First Look

First Look: April 14, 2009

varieties, we show that there is no pure strategy symmetric price equilibrium in general (for n > 2 with linear transportation costs). In turn, if the limitation on the number of varieties consumers purchase comes from a budget... View Details
Keywords: Martha Lagace
  • 14 Feb 2017
  • First Look

First Look at New Research: February 14

methodological innovations to the marketing literature. First, we correct for endogeneity with regard to both store entry and mall sales to identify the causal effect of store entry on mall sales. Second, we address multiple equilibria by estimating View Details
Keywords: Sean Silverthorne
  • 29 Jun 2007
  • First Look

First Look: June 29, 2007

result of equilibrium product differentiation when some facts are nonverifiable. We use the model to address several questions, including the impact of competition on bias, the incentives to report unpopular news, and the impact of owner... View Details
Keywords: Martha Lagace
  • 07 Oct 2015
  • What Do You Think?

What is the Best Immigration Model for the US?

equilibrium of poverty.” (As a side note, one problem with Galbraith’s argument is that “labor exports” often involve people with the best education and skills, producing a brain drain. The result could well be greater inequality among... View Details
Keywords: by James Heskett
  • 25 Aug 2009
  • First Look

First Look: August 25

in the process of making high profits. Even with few truly altruistic firms, an equilibrium may emerge where all firms pretend to be kind and refrain from charging "abusive" prices to their customers. Our main result is that, as... View Details
Keywords: Martha Lagace
  • 11 Apr 2017
  • First Look

First Look at New Research, April 11

failure tolerance has an equilibrium price—in terms of an investor's required share of equity—that increases in the level of radical innovation. Financiers with investment strategies that tolerate early failure will endogenously choose to... View Details
  • 06 May 2014
  • First Look

First Look: May 6

economy" industries. They can, but do not necessarily, lead to market tipping, unless they outweigh customers' benefits from differentiation and are accompanied by high switching and multi-homing costs. Network effects create the possibility for multiple View Details
Keywords: Sean Silverthorne
  • 22 Jan 2007
  • Research & Ideas

The Immigrant Technologist: Studying Technology Transfer with China

rely on technology to the extent there is labor mobility across sectors. A hairdresser in the United States, for example, makes more money than a hairdresser in China, and that is due in large part to the wage equilibrium that occurs... View Details
Keywords: Re: William R. Kerr; Technology; Computer
  • 18 Sep 2000
  • Research & Ideas

Big Deals: Financing Large-Scale Investments

get less. Negotiating these deals is like squeezing a balloon—if you squeeze it in one place, it pops out somewhere else. Finding an equilibrium in the midst of this kind of multiparty negotiation is a difficult task." One way to... View Details
Keywords: by Julia Hanna
  • 04 Mar 2014
  • First Look

First Look: March 4

total consumer traffic for higher revenues derived by exposing consumers to unsolicited products (e.g., advertising). We show that competition between platforms leads to lower equilibrium levels of search diversion relative to a monopoly... View Details
Keywords: Sean Silverthorne
  • 23 Mar 2010
  • First Look

First Look: March 23

are sufficiently large, a pure-strategy equilibrium exists where both B firms are active in the market. Although there is competition in the complement market, the monopoly Firm A may earn lower profits in this environment. Consequently,... View Details
Keywords: Martha Lagace
  • 26 Jan 2010
  • First Look

First Look: Jan. 26

http://www.hbs.edu/research/pdf/10-057.pdf Optimal Auction Design and Equilibrium Selection in Sponsored Search Auctions Authors:Benjamin Edelman and Michael Schwarz An abstract is unavailable at this time. Download the paper:... View Details
Keywords: Martha Lagace