scholarly journals Dynamic posted-price mechanisms for the blockchain transaction-fee market

2021 ◽  
Author(s):  
Matheus V. X. Ferreira ◽  
Daniel J. Moroz ◽  
David C. Parkes ◽  
Mitchell Stern
Keyword(s):  
Posted Price

scholarly journals Selling with evidence

2019 ◽  
Vol 14 (2) ◽  
pp. 345-371
Author(s):  
Frédéric Koessler ◽  
Vasiliki Skreta
Keyword(s):  
Asymmetric Information ◽  
Product Quality ◽  
Optimal Allocation ◽  
Pareto Optimal ◽  
Principal Problem ◽  
Equilibrium Allocation ◽  
Interdependent Values ◽  
Ex Ante ◽  
Private Value ◽  
Posted Price

We study the informed‐principal problem in a bilateral asymmetric information trading setting with interdependent values and quasi‐linear utilities. The informed seller proposes a mechanism and voluntarily certifies information about the good's characteristics. When the set of certifiable statements is sufficiently rich, we show that there is an ex ante profit‐maximizing selling procedure that is an equilibrium of the mechanism proposal game. In contrast to posted price settings, the allocation obtained when product characteristics are commonly known (the unravelling outcome) may not be an equilibrium allocation, even when all buyer types agree on the ranking of product quality. Our analysis relies on the concept of strong Pareto optimal allocation, which was originally introduced by Maskin and Tirole (1990) in private value environments.

Posted price selling and online auctions

2015 ◽  
Vol 90 ◽  
pp. 81-92 ◽  
Author(s):  
Sajid Anwar ◽  
Mingli Zheng
Keyword(s):  
Online Auctions ◽  
Posted Price

scholarly journals The Cyclicality of Sales, Regular and Effective Prices: Business Cycle and Policy Implications: Reply

2019 ◽  
Vol 109 (1) ◽  
pp. 314-324 ◽  
Author(s):  
Olivier Coibion ◽  
Yuriy Gorodnichenko ◽  
Gee Hee Hong
Keyword(s):  
Business Cycle ◽  
Policy Implications ◽  
Price Inflation ◽  
Weighting Schemes ◽  
Wide Variability ◽  
Posted Price

We address how using different censoring thresholds and imputation procedures affects the baseline results of Coibion, Gorodnichenko, and Hong (2015). Higher censoring thresholds introduce measure ment error and outliers that generate wide variability in results across weighting schemes, but methods that explicitly control for outliers confirm the results of Coibion, Gorodnichenko, and Hong (2015) for all censoring thresholds. We also illustrate how the BLS’s approach to imputing missing prices can introduce a cyclical bias into measures of posted price inflation when store-switching is present in the data. (JEL D12, E31, E32, L25, L81)

An Examination of Changes in Specialists’ Posted Price Schedules

2001 ◽  
Vol 14 (3) ◽  
pp. 681-704 ◽  
Author(s):  
Kenneth A. Kavajecz ◽  
Elizabeth R. Odders-White
Keyword(s):  
Posted Price

scholarly journals Smoke Gets in Your Eyes: Cigarette Tax Salience and Regressivity

2013 ◽  
Vol 5 (1) ◽  
pp. 302-336 ◽  
Author(s):  
Jacob Goldin ◽  
Tatiana Homonoff
Keyword(s):  
Low Income ◽  
Time Variation ◽  
Sales Tax ◽  
Tax Rates ◽  
Income Differences ◽  
Cigarette Taxes ◽  
Commodity Taxes ◽  
Cigarette Tax ◽  
Low Income Consumers ◽  
Posted Price

Recent evidence suggests consumers pay less attention to commodity taxes levied at the register than to taxes included in a good's posted price. If this attention gap is larger for high-income consumers than for low-income consumers, policymakers can manipulate a tax's regressivity by altering the fraction of the tax imposed at the register. We investigate income differences in attentiveness to cigarette taxes, exploiting state and time variation in cigarette excise and sales tax rates. Whereas all consumers respond to taxes that appear in cigarettes' posted price, our results suggest that only low-income consumers respond to taxes levied at the register. (JEL D12, H22, H25, H71, L66)

Chapter I. The Oil Situation

1974 ◽  
Vol 67 ◽  
pp. 8-16
Keyword(s):  
World Economy ◽  
Price Rise ◽  
Industrial Output ◽  
Oil Consumption ◽  
Financial Problem ◽  
The World ◽  
Sheer Size ◽  
Physical Availability ◽  
Posted Price

When we last reported in November, it seemed that the major problem confronting the world economy (so far as oil was concerned) might be the physical availability of supplies—in other words that world industrial output would be constrained by supply rather than demand shortages. Since then, however, the posted price of crude oil (against which the host governments' ‘take’ is calculated) has been roughly doubled on top of the increases imposed last October, and this now makes it likely that the ‘real’ deflationary impact of the price rise will soon outweigh the effects of supply shortages. And, as many countries will be affected in this way, there are likely to be ‘second-round’ contractionary effects on world trade. The international financial problem and the serious plight of the non-oil-producing developing countries have also been thrown into greater relief by the latest price rise. The sheer size of the latest price rise may also lead to a significant ‘price elasticity’ effect on oil consumption regardless of any rationing or other direct controls.

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