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Book/Printed Material Market culture how norms governing exploding offers affect market performance

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Title

  • Market culture how norms governing exploding offers affect market performance

Summary

  • "Many markets have organizations that influence or try to establish norms concerning when offers can be made, accepted and rejected. Examining a dozen previously studied markets suggests that markets in which transactions are made far in advance are markets in which it is acceptable for firms to make exploding offers, and unacceptable for workers to renege on commitments they make, however early. But this evidence is only suggestive, because the markets differ in many ways other than norms concerning offers. Laboratory experiments allow us to isolate the effects of exploding offers and binding acceptances. In a simple environment, in which uncertainty about applicants' quality is resolved over time, we find inefficient early contracting when firms can make exploding offers and applicants' acceptances are binding. Relaxing either of these two conditions causes matching to take place later, when more information about applicants' qualities is available, and consequently results in higher efficiency and fewer blocking pairs. This suggests that elements of market culture may play an important role in influencing market performance"--National Bureau of Economic Research web site.

Names

  • Niederle, Muriel
  • Roth, Alvin E., 1951-
  • National Bureau of Economic Research

Created / Published

  • Cambridge, MA : National Bureau of Economic Research, c2004.

Headings

  • -  Markets--Mathematical models

Notes

  • -  Title from PDF file as viewed on 1/21/2005.
  • -  Includes bibliographical references.
  • -  Also available in print.
  • -  Mode of access: World Wide Web.
  • -  System requirements: Adobe Acrobat Reader.

Call Number/Physical Location

  • HB1

Digital Id

Library of Congress Control Number

  • 2005616151

Access Advisory

  • Unrestricted online access

Online Format

  • image
  • pdf

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Cite This Item

Citations are generated automatically from bibliographic data as a convenience, and may not be complete or accurate.

Chicago citation style:

Niederle, Muriel, Alvin E Roth, and National Bureau Of Economic Research. Market Culture How Norms Governing Exploding Offers Affect Market Performance. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. https://aj.sunback.homes/item/2005616151/.

APA citation style:

Niederle, M., Roth, A. E. & National Bureau Of Economic Research. (2004) Market Culture How Norms Governing Exploding Offers Affect Market Performance. Cambridge, MA: National Bureau of Economic Research. [Pdf] Retrieved from the Library of Congress, https://aj.sunback.homes/item/2005616151/.

MLA citation style:

Niederle, Muriel, Alvin E Roth, and National Bureau Of Economic Research. Market Culture How Norms Governing Exploding Offers Affect Market Performance. Cambridge, MA: National Bureau of Economic Research, 2004. Pdf. Retrieved from the Library of Congress, <aj.sunback.homes/item/2005616151/>.