Capping Commissions in the Presence of Price Competition
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Santosh Anagol & Shawn Cole & Shayak Sarkar, 2017. "Understanding the Advice of Commissions-Motivated Agents: Evidence from the Indian Life Insurance Market," The Review of Economics and Statistics, MIT Press, vol. 99(1), pages 1-15, March.
- Alexandre de Cornière & Greg Taylor, 2019.
"A model of biased intermediation,"
RAND Journal of Economics, RAND Corporation, vol. 50(4), pages 854-882, December.
- de Cornière, Alexandre & Taylor, Greg, 2016. "A Model of Biased Intermediation," CEPR Discussion Papers 11457, C.E.P.R. Discussion Papers.
- Cornière (de), Alexandre & Taylor, Greg, 2017. "A Model of Biased Intermediation," TSE Working Papers 17-753, Toulouse School of Economics (TSE), revised Jul 2019.
- J. David Cummins & Neil A. Doherty, 2006. "The Economics of Insurance Intermediaries," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 73(3), pages 359-396, September.
- Bolton, Patrick & Freixas, Xavier & Shapiro, Joel, 2007. "Conflicts of interest, information provision, and competition in the financial services industry," Journal of Financial Economics, Elsevier, vol. 85(2), pages 297-330, August.
- Ulrike Malmendier & Devin Shanthikumar, 2014.
"Do Security Analysts Speak in Two Tongues?,"
The Review of Financial Studies, Society for Financial Studies, vol. 27(5), pages 1287-1322.
- Ulrike Malmendier & Devin Shanthikumar, 2007. "Do Security Analysts Speak in Two Tongues?," NBER Working Papers 13124, National Bureau of Economic Research, Inc.
- Lewis, Tracy R & Sappington, David E M, 1994. "Supplying Information to Facilitate Price Discrimination," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 35(2), pages 309-327, May.
- Alessandro Lizzeri, 1999. "Information Revelation and Certification Intermediaries," RAND Journal of Economics, The RAND Corporation, vol. 30(2), pages 214-231, Summer.
- Moscarini, Giuseppe & Ottaviani, Marco, 2001.
"Price Competition for an Informed Buyer,"
Journal of Economic Theory, Elsevier, vol. 101(2), pages 457-493, December.
- Giuseppe Moscarini & Marco Ottaviani, 1998. "Price Competition for an Informed Buyer," Cowles Foundation Discussion Papers 1199, Cowles Foundation for Research in Economics, Yale University.
- Sendhil Mullainathan & Markus Noeth & Antoinette Schoar, 2012. "The Market for Financial Advice: An Audit Study," NBER Working Papers 17929, National Bureau of Economic Research, Inc.
- Roman Inderst & Marco Ottaviani, 2009.
"Misselling through Agents,"
American Economic Review, American Economic Association, vol. 99(3), pages 883-908, June.
- Inderst, Roman & Ottaviani, Marco, 2009. "Misselling through agents," IMFS Working Paper Series 36, Goethe University Frankfurt, Institute for Monetary and Financial Stability (IMFS).
- Justin P. Johnson & David P. Myatt, 2006.
"On the Simple Economics of Advertising, Marketing, and Product Design,"
American Economic Review, American Economic Association, vol. 96(3), pages 756-784, June.
- David P. Myatt & Justin P. Johnson & Johnson Graduate School of Management & Cornell University, 2004. "On the Simple Economics of Advertising, Marketing, and Product Design," Economics Series Working Papers 185, University of Oxford, Department of Economics.
- Gary Biglaiser, 1993. "Middlemen as Experts," RAND Journal of Economics, The RAND Corporation, vol. 24(2), pages 212-223, Summer.
- Daylian M. Cain & George Loewenstein & Don A. Moore, 2005. "The Dirt on Coming Clean: Perverse Effects of Disclosing Conflicts of Interest," The Journal of Legal Studies, University of Chicago Press, vol. 34(1), pages 1-25, January.
- Malmendier, Ulrike & Shanthikumar, Devin, 2007. "Are small investors naive about incentives?," Journal of Financial Economics, Elsevier, vol. 85(2), pages 457-489, August.
- Mark Armstrong & Jidong Zhou, 2011.
"Paying for Prominence,"
Economic Journal, Royal Economic Society, vol. 121(556), pages 368-395, November.
- Armstrong, Mark & Zhou, Jidong, 2011. "Paying for prominence," MPRA Paper 30529, University Library of Munich, Germany.
- Jason Shafrin, 2010. "Operating on commission: analyzing how physician financial incentives affect surgery rates," Health Economics, John Wiley & Sons, Ltd., vol. 19(5), pages 562-580, May.
- Andrei Hagiu & Bruno Jullien, 2011. "Why do intermediaries divert search?," RAND Journal of Economics, RAND Corporation, vol. 42(2), pages 337-362, June.
- McAfee, R Preston & Schwartz, Marius, 1994. "Opportunism in Multilateral Vertical Contracting: Nondiscrimination, Exclusivity, and Uniformity," American Economic Review, American Economic Association, vol. 84(1), pages 210-230, March.
- Juan-JosÈ Ganuza & JosÈ S. Penalva, 2010. "Signal Orderings Based on Dispersion and the Supply of Private Information in Auctions," Econometrica, Econometric Society, vol. 78(3), pages 1007-1030, May.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Roman Inderst & Marco Ottaviani, 2012. "Competition through Commissions and Kickbacks," American Economic Review, American Economic Association, vol. 102(2), pages 780-809, April.
- Inderst, Roman & Ottaviani, Marco, 2012. "How (not) to pay for advice: A framework for consumer financial protection," Journal of Financial Economics, Elsevier, vol. 105(2), pages 393-411.
- Lucas C. Coffman & Alexander Gotthard-Real, 2019. "Moral Perceptions of Advised Actions," Management Science, INFORMS, vol. 65(8), pages 3904-3927, August.
- Emir Kamenica & Matthew Gentzkow, 2011.
"Bayesian Persuasion,"
American Economic Review, American Economic Association, vol. 101(6), pages 2590-2615, October.
- Emir Kamenica & Matthew Gentzkow, 2009. "Bayesian Persuasion," NBER Working Papers 15540, National Bureau of Economic Research, Inc.
- Emir Kamenica & Matthew Gentzkow, 2009. "Bayesian Persuasion," NajEcon Working Paper Reviews 814577000000000369, www.najecon.org.
- Zhou, Jidong, 2021.
"Mixed bundling in oligopoly markets,"
Journal of Economic Theory, Elsevier, vol. 194(C).
- Zhou, Jidong, 2019. "Mixed Bundling in Oligopoly Markets," MPRA Paper 97432, University Library of Munich, Germany.
- Jidong Zhou, 2021. "Mixed Bundling in Oligopoly Markets," Cowles Foundation Discussion Papers 2270, Cowles Foundation for Research in Economics, Yale University.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2012.
"The Credit Ratings Game,"
Journal of Finance, American Finance Association, vol. 67(1), pages 85-112, February.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The credit ratings game," Economics Working Papers 1149, Department of Economics and Business, Universitat Pompeu Fabra.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2010. "The credit ratings game," Economics Working Papers 1221, Department of Economics and Business, Universitat Pompeu Fabra.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The Credit Ratings Game," NBER Working Papers 14712, National Bureau of Economic Research, Inc.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2010. "The Credit Ratings Game," Working Papers 468, Barcelona School of Economics.
- Forand, Jean Guillaume, 2013.
"Competing through information provision,"
International Journal of Industrial Organization, Elsevier, vol. 31(5), pages 438-451.
- Jean Guillaume Forand, 2007. "Competing Through Information Provision," 2007 Meeting Papers 661, Society for Economic Dynamics.
- Jean Guillaume Forand, 2012. "Competing Through Information Provision," Working Papers 1201, University of Waterloo, Department of Economics, revised Apr 2012.
- Haan, Marten & Moraga Gonz, 2015. "Price and match-value advertising with directed consumer search," Research Report 15012-EEF, University of Groningen, Research Institute SOM (Systems, Organisations and Management).
- Inderst, Roman, 2015. "Regulating commissions in markets with advice," International Journal of Industrial Organization, Elsevier, vol. 43(C), pages 137-141.
- Carlos Canon, 2011. "Matching & Information Provision by One-Sided and Two-Sided Platforms," Working Papers 11-20, NET Institute, revised Oct 2011.
- Mikhail Drugov & Marta Troya‐Martinez, 2019.
"Vague lies and lax standards of proof: On the law and economics of advice,"
Journal of Economics & Management Strategy, Wiley Blackwell, vol. 28(2), pages 298-315, April.
- Mikhail Drugov & Marta Troya-Martinez, 2018. "Vague lies and lax standards of proof: On the law and economics of advice," Working Papers w0246, Center for Economic and Financial Research (CEFIR).
- Mikhail Drugov & Marta Troya-Martinez, 2018. "Vague lies and lax standards of proof: On the law and economics of advice," Working Papers w0246, New Economic School (NES).
- Bernardita Vial & Pilar Alcalde, 2020. "Intermediary Commissions in a Regulated Market with Heterogeneous Customers," Documentos de Trabajo 532, Instituto de Economia. Pontificia Universidad Católica de Chile..
- Gesche, Tobias, 2021. "De-biasing strategic communication," Games and Economic Behavior, Elsevier, vol. 130(C), pages 452-464.
- Chauhan, Yogesh & Dey, Dipanjan Kumar, 2020. "Does financial literacy affect the value of financial advice? A contingent valuation approach," Journal of Behavioral and Experimental Finance, Elsevier, vol. 25(C).
- Maxim Ivanov, 2013. "Information revelation in competitive markets," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 52(1), pages 337-365, January.
- Alexandre de Corniere & Romain De Nijs, 2013. "Online Advertising and Privacy," Economics Series Working Papers 650, University of Oxford, Department of Economics.
- Dirk Bergemann & Alessandro Bonatti, 2024.
"Data, Competition, and Digital Platforms,"
American Economic Review, American Economic Association, vol. 114(8), pages 2553-2595, August.
- Bergemann, Dirk & Bonatti, Alessandro, 2022. "Data, Competition, and Digital Platforms," CEPR Discussion Papers 17544, C.E.P.R. Discussion Papers.
- Dirk Bergemann & Alessandro Bonatti, 2023. "Data, Competition, and Digital Platforms," Papers 2304.07653, arXiv.org.
- Dirk Bergemann & Alessandro Bonatti, 2023. "Data, Competition, and Digital Platforms," Cowles Foundation Discussion Papers 2343R, Cowles Foundation for Research in Economics, Yale University.
- Dirk Bergemann & Alessandro Bonatti, 2022. "Data, Competition, and Digital Platforms," Cowles Foundation Discussion Papers 2343, Cowles Foundation for Research in Economics, Yale University.
- Schweizer, Nikolaus & Szech, Nora, 2017.
"Revenues and welfare in auctions with information release,"
Journal of Economic Theory, Elsevier, vol. 170(C), pages 86-111.
- Nikolaus Schweizer & Nora Szech, 2015. "Revenues and Welfare in Auctions with Information Release," CESifo Working Paper Series 5501, CESifo.
- Schweizer, Nikolaus & Szech, Nora, 2015. "Revenues and welfare in auctions with information release," Discussion Papers, Research Unit: Economics of Change SP II 2015-301, WZB Berlin Social Science Center.
- Szech, Nora & Schweizer, Nikolaus, 2015. "Revenues and Welfare in Auctions with Information Release," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113041, Verein für Socialpolitik / German Economic Association.
- Schweizer, Nikolaus & Szech, Nora, 2015. "Revenues and welfare in auctions with information release," Working Paper Series in Economics 67, Karlsruhe Institute of Technology (KIT), Department of Economics and Management.
- Hao Li & Xianwen Shi, 2017.
"Discriminatory Information Disclosure,"
American Economic Review, American Economic Association, vol. 107(11), pages 3363-3385, November.
- Hao Li & Xianwen Shi, 2013. "Discriminatory Information Disclosure," Working Papers tecipa-497, University of Toronto, Department of Economics.
- Hao Li & Xianwen Shi, 2017. "Discriminatory Information Disclosure," Working Papers tecipa-583, University of Toronto, Department of Economics.
- Utz Weitzel & Michael Kirchler, 2022. "The Banker's Oath And Financial Advice," Working Papers 2022-13, Faculty of Economics and Statistics, Universität Innsbruck.
More about this item
Keywords
Advice; Cheap Talk; Commissions; Regulation;All these keywords.
JEL classification:
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design
- D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
- L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
NEP fields
This paper has been announced in the following NEP Reports:- NEP-COM-2021-02-15 (Industrial Competition)
- NEP-IND-2021-02-15 (Industrial Organization)
- NEP-MIC-2021-02-15 (Microeconomics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:104867. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Joachim Winter (email available below). General contact details of provider: https://edirc.repec.org/data/vfmunde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.