We consider the effects a public revelation of information (e.g. rating, grade) has on trading in a dynamic signaling model. Competing buyers offer prices to a privately informed seller who can reject them and delay trade. Delay is costly and the seller has no commitment to its duration. The external public information allows for signaling in equilibrium. More interestingly, we characterize the...

To the best of the authors' knowledge, there are no standard guidelines to help in the effective design of completion practices. Many completions have been analyzed in this project, resulting in the best practices, as outlined in this paper. The objective of this paper is to propose a set of guidelines for the optimal completion design, by integrating current best practices through a decision-m...

In the real estate business, it is a common understanding that the value and potential of a property are fundamentally determined by its location. For real estate agencies, the real estate system can be used as an aid to selling and managing properties, for the buyers, the system can function as consultant in their decision making in purchasing properties. This emphasizes the significations of ...

W consider two-part pricing of a service offered to risk-averse buyers subject to demand uncertainty. Buyers subscribe to the contract before resolution of the uncertainty. Sellers set two-part prices that trade off between insuring buyers against the uncertainty and the ex post deadweight loss from inefficient usage. If marginal and total benefits from the service are positively correlated (a ...

(1) Background: the present research addresses sensory marketing to check its possible potential in making consumer shopping experience physical points of sale more sustainable and efficient, both for buyers selling company. (2) Aims: main purpose this study is whether, by applying merchandising techniques a shop, business can be economically profitable and, thus, make it sustainable. The objec...

The mechanisms by which information is traded help shape the creation and the distribution of surplus in many important markets. Information about individual borrowers guides banks’ lending decisions, information about consumers’ characteristics facilitates targeted online advertising, and information about a patient’s genome enhances health care delivery. In all these settings, information buy...

Although global declines in structure have been documented in the aging human brain, little is known about the functional integrity of the striatum and prefrontal cortex in older adults during incentive processing. We used event-related functional magnetic resonance imaging to determine whether younger and older adults differed in both self-reported and neural responsiveness to anticipated mone...

Housing, health care, and education are often rationed in the sense that the allocation process involves non-market mechanisms. We study rationing in a market in which some buyers face binding wealth constraints and resale is permitted. Buyers with a high willingness-to-pay for a good but a low ability-to-pay may not acquire it in a free market. Rationing gives these buyers a chance to acquire ...