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http://hdl.handle.net/10419/25679
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| Title: | | Competition on common value markets with naèive traders: a theoretical and experimental analysis  |
| Authors: | | Chlaß, Nadine Güth, Werner |
| Issue Date: | | 2007 |
| Series/Report no.: | | Jena economic research papers 2007,105 |
| Abstract: | | Theoretically and experimentally, we generalize the analysis of acquiring a company (Samuelson and Bazerman 1985) by allowing for competition of both, buyers and sellers. Naivety of both is related to the idea that higher prices exclude worse qualities. While competition of naive buyers increases prices, competition of naive sellers promotes effciency enhancing trade. Our predictions are tested experimentally. |
| JEL: | | D01 D42 D43 D44 D61 D82 L13 L15 |
| Document Type: | | Working Paper |
| Appears in Collections: | | Jena Economic Research Papers, MPI für Ökonomik
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