During the spring semester, in-person concerts, events and lectures that involve outside guests will not be held, per the university’s COVID-19 travel and visitor policy.
This is a past event. Its details are archived for historical purposes.
The contact information may no longer be valid.
Please visit our current events listings to look for similar events by title, location, or venue.
Microeconomic Theory Workshop: Doron Ravid
Tuesday, March 2, 2021 at 4:15pm to 5:15pm
Virtual EventDoron Ravid, University of Chicago
Learning Before Trading: On the Inefficiency of Ignoring Free Information (joint w/Anne-Katrin Roesler, University of Toronto & Balázs Szentes, London School of Economics)
Abstract: This paper analyzes a bilateral trade model in which the buyer’s valuation for theobject is uncertain and she can privately purchase any signal about her valuation.The seller makes a take-it-or-leave-it offer to the buyer. The cost of a signal is smoothand increasing in informativeness. We characterize the set of equilibria when learningis free, and show they are strongly Pareto ranked. Our main result is that whenlearning is costly but the cost of information goes to zero, equilibria converge to theworst free-learning equilibrium.
Dial-In Information
If you are interested participating in this seminar, please email Ulrike Kroeller at uab1@cornell.edu for Zoom information.
- Subscribe
- Google Calendar iCal Outlook
- Event Type
- Departments
- Contact E-Mail
- Contact Name
-
Ulrike Kroeller
- Speaker
-
Doron Ravid
- Speaker Affiliation
-
University of Chicago
- Open To
-
Cornell Economics Community - List Serve Members