The winner’s curse describes the behavioural phenomenon that the winner of a bidding contest pays a price that is too high. This paper shows that experiential learning cannot prevent a winner’s curse on the…
We study the effect of a state level mandate on renewable heating technologies on the housing market. The mandate requires a minimum share of 10 % renewable energy sources when changing the heating system in the…
The usual analysis of bidding in first-price auctions assumes that bidders know the distribution of valuations. We analyze first-price auctions in which bidders do not know the precise distribution of…
This article shows that the usual result of full adoption of a superior technology induced by pure royalty licensing may not hold when firms have different production technologies. By modeling a Cournot…
In this paper, we analyze the effects of advancements in generative Artificial Intelligence (GenAI) on the news media market. We model a representative consumer who allocates their time between reading news and…
Firms may seek non-redundant information through inter-firm relations beyond their geographic and cognitive boundaries (i.e., relations with firms in other regions and active in different fields). Little is…
When lower prices are available only to consumers who search, firms can price discriminate based on search. We study local German electricity retail markets in which nonsearching consumers pay the incumbent’s…
Germany’s 2019 Digital Healthcare Act (Digitale-Versorgung-Gesetz, or DVG) created a number of opportunities for the digital transformation of the healthcare delivery system. Key among these was the…