Erratum: Selling long life

Erratum

Selling Information Selling Information *

We study a dynamic buyer-seller problem in which the good is information and there are no property rights. The potential buyer is reluctant to pay for information whose value to him is uncertain, but the seller cannot credibly convey its value to the buyer without disclosing the information itself. Information comes as divisible hard evidence. We show how and why the seller can appropriate a su...

Office-Selling, Corruption and Long-Term Development in Peru∗

This paper investigates the private returns to colonial offices and how these affect longterm economic and political outcomes across sub-national provinces in Peru. To estimate the private returns to office I use a unique dataset of the prices at which colonial government positions were auctioned off by the Spanish Crown between 1674 and 1751. I first show how the gap between the prices paid fo...

Erratum: Burden of disease variants in participants of the long life family study

Selling to Strategic Customers: Opaque Selling Strategies

Over the past few years, firms in the travel and entertainment industries have begun using novel sales strategies for revenue management. In this chapter, we study a selling strategy called opaque selling, in which firms guarantee one of several fully specified products, but hide the identity of the product that the consumer will actually obtain until after the purchase is completed. Several fi...