This paper proposes a model of a cruising taxicab industry under laissez faire pricing and free entry, and compares it with alternative regimes including collusive fare setting, collusive restrictions on entry, or both. In the model, under laissez faire, prices are determined by Nash bargaining with complete information and lie above marginal costs. Under laissez faire pricing and free entry th...

Arrow’s information paradox asserts that demand for undisclosed information is undefined. Reassessing the paradox, I argue that the value of information for the buyer depends on its relevance, which can be known ex ante, and the uncertainty shifts to the capability of the seller to acquire the knowledge and her reliability in disclosing it. These three together form the buyer’s reservation pric...

Improved consumer information about horizontal aspects of products of similar quality leads to better consumer matching but also higher prices, so consumer surplus can go up or down, while proÞts rise. With enough quality asymmetry though, the higher quality (and hence larger) Þrm’s price falls with more information, so both effects beneÞt consumers. This is when comparative advertising is used...

Impliqué dans un processus décisionnel, l’opérateur humain est souvent confronté à un trop grand nombre d’informations, qu’il doit analyser, synthétiser et exploiter parfois dans un contexte de crise où le facteur temps est crucial. Il est alors nécessaire d’automatiser certaines tâches à haute valeur cognitive ajoutée pour optimiser ce processus décisionnel et, pour ce faire, les ontologies de...

We study the effects of taxation in a model with a representative agent with time-inconsistent preferences: discounting is quasi-geometric. Utility is derived from consumption and leisure, and taxation can be based on consumption and investment spending as well as on capital and labor income. The model allows for closed-form solutions, and welfare comparisons can be made across different taxati...

Purpose This paper investigates the impact of sustainability information disclosure on consumers' choice order-to-delivery lead-time in relation to concern. Design/methodology/approach Based two experiments with participants from Netherlands (n = 348) and United Kingdom 1,387), was examined connection concerns for environmental social sustainability. Information (carbon emission) (warehouse wor...