This study examines individual behavior in two well-functioning marketplaces to investigate whether market experience eliminates the endowment effect. Field evidence from both markets suggests that individual behavior converges to the neoclassical prediction as market experience increases. In an experimental test of whether these observations are due to treatment (market experience) or selectio...

We consider a model of directed search where the sellers are allowed to post mechanisms with entry fees. Regardless of the number of buyers and sellers, the sellers are able to extract all the surplus of the buyers by introducing entry fees and making price schedules positively sloped in the number of buyers arriving to their shops. This is in contrast to results that are achieved for large mar...

The efficient market hypothesis states that investors immediately incorporate all available information into the price of an asset to accurately reflect its value at any given time. The sheer volume of information immediately available electronically makes it difficult for a single investor to keep abreast of all information for a single stock, let alone multiple. We aim to determine how quickl...

The introduction makes up for the mandatory abstract.

Bookstores have been strongly affected by the rise of electronic commerce. Traditional (physical) bookstores now have to compete with online counterparts that possess several advantages over them, such as lower prices and 24/7 availability. This paper investigates the influence that online bookstores have on the sales of physical bookstores in China. The geographic restriction is based on the p...

There is growing evidence to suggest that the impact of positive and negative news are asymmetricthat the impact of bad news has a much greater effect on investors’ sentiment than positive news does; investors react more harshly when bad news is disseminated. Using daily data from 30 companies listed on the DJIA index over the period April 3, 2012 to April 5, 2013, we analyse 289,443 online twe...

The purpose of this study is to compare the sales and visitor access traffic as a result of using critical success factors in an online car accessories store compared with online trading forums. The study uses quantitative and non-experimental methods. Quantitative data analysis and t-test are performed on the comparison and correlation of visitor access and sales frequency between online store...