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Quality communication via cheap-talk messages in experimental auctions

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dc.contributor.authorLee, Jaesun-
dc.contributor.authorShapiro, Dmitry-
dc.date.accessioned2024-05-14T07:25:22Z-
dc.date.available2024-05-14T07:25:22Z-
dc.date.created2023-07-12-
dc.date.created2023-07-12-
dc.date.created2023-07-12-
dc.date.created2023-07-12-
dc.date.created2023-07-12-
dc.date.issued2023-08-
dc.identifier.citationJournal of Economic Behavior and Organization, Vol.212, pp.74-107-
dc.identifier.issn0167-2681-
dc.identifier.urihttps://hdl.handle.net/10371/202036-
dc.description.abstractThis paper examines the incentives of low-quality sellers to truthfully communicate their product quality in an environment where high-quality sellers cannot fully separate them-selves. Private information about the product's quality can be conveyed through cheap-talk messages, and products are sold in one of four auction formats: first-price (FPA), second -price (SPA), all-pay (APA), or sealed-bid double auctions (DA). Our study finds that low -quality sellers can benefit from honestly communicating their quality under certain cir-cumstances, such as in risky auction formats (DA and APA) and when there is a low prior probability of high-quality products. We also observe that low-quality claims can be more profitable, regardless of the competitiveness of the environment. Finally, we demonstrate that sellers' ability to set reservation prices does not improve communication regarding product quality.& COPY; 2023 Elsevier B.V. All rights reserved.-
dc.language영어-
dc.publisherElsevier BV-
dc.titleQuality communication via cheap-talk messages in experimental auctions-
dc.typeArticle-
dc.identifier.doi10.1016/j.jebo.2023.05.004-
dc.citation.journaltitleJournal of Economic Behavior and Organization-
dc.identifier.wosid001015336900001-
dc.identifier.scopusid2-s2.0-85161077313-
dc.citation.endpage107-
dc.citation.startpage74-
dc.citation.volume212-
dc.description.isOpenAccessN-
dc.contributor.affiliatedAuthorShapiro, Dmitry-
dc.type.docTypeArticle-
dc.description.journalClass1-
dc.subject.keywordPlusREPUTATION-
dc.subject.keywordPlusMARKET-
dc.subject.keywordPlusECONOMICS-
dc.subject.keywordPlusPREFERENCES-
dc.subject.keywordPlusUNCERTAINTY-
dc.subject.keywordPlusINFORMATION-
dc.subject.keywordPlusCOMPETITION-
dc.subject.keywordPlusDECEPTION-
dc.subject.keywordPlusBEHAVIOR-
dc.subject.keywordPlusLEMONS-
dc.subject.keywordAuthorNegative information-
dc.subject.keywordAuthorAuctions-
dc.subject.keywordAuthorCheap talk-
dc.subject.keywordAuthorInformation disclosure-
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  • College of Social Sciences
  • Department of Economics
Research Area Applied Microeconomic Theory, Behavioral and Experimental Economics, Development Economics

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