Information Acquisition in Competitive Markets: An Application to the US Mortgage Market

2012 ◽  
Vol 4 (4) ◽  
pp. 65-106 ◽  
Author(s):  
Jeremy M Burke ◽  
Curtis R Taylor ◽  
Liad Wagman
Keyword(s):  
Price Discrimination ◽  
Information Acquisition ◽  
Risk Groups ◽  
Mortgage Market ◽  
Amount Of Information ◽  
The Us ◽  
Search For Information ◽  
Potential Customers ◽  
High Rejection ◽  
Rejection Rates

How do price commitments impact the amount of information firms acquire about potential customers? We examine this question in the context of a competitive market where firms search for information that may disqualify applicants. Contracts are incomplete because the amount of information acquired cannot be observed. Despite competition, we find that firms search for too much information in equilibrium. If price discrimination is prohibited, members of high-risk groups suffer disproportionately high rejection rates. If rejected applicants remain in the market, the resulting adverse selection can be severe. We apply the results to the US mortgage market. (JEL D82, D83, D86, G21)

The increase of job insecurity: Trajectories and risk groups in the US and Europe

2013 ◽  
Author(s):  
Christian Korunka ◽  
Bettina Kubicek ◽  
Matea Paskvan ◽  
Roman Prem ◽  
Cornelia Gerdenitsch
Keyword(s):  
Job Insecurity ◽  
Risk Groups ◽  
The Us

The Development of Distinct Choice Process Segments over Time: A Stochastic Modeling Approach

1982 ◽  
Vol 46 (2) ◽  
pp. 48-59 ◽  
Author(s):  
Donald R. Lehmann ◽  
William L. Moore ◽  
Terry Elrod
Keyword(s):  
Decision Making ◽  
Problem Solving ◽  
Stochastic Modeling ◽  
Information Acquisition ◽  
Response Behavior ◽  
Model Framework ◽  
Individual Level ◽  
Amount Of Information ◽  
The Individual ◽  
Over Time

This paper examines Howard's (1963) typology dividing decision making into extensive problem solving (ESP), limited problem solving (LSP), and routinized response behavior (RRB). Specifically, the amount of information accessed in a longitudinal experiment is studied. Information acquisition is modeled stochastically at the individual level, and the existence of two segments (LSP and RRB) is tested in a nested-model framework.

Colin Baker & Sylvia Prys Jones, Encyclopedia of bilingualism and bilingual education. Clevedon, Avon, UK: Multilingual Matters, 1998. Pp. x, 758. £79.00. [Distrib. in the US by Taylor & Francis, Philadelphia.]

2000 ◽  
Vol 29 (4) ◽  
pp. 600-602 ◽  
Author(s):  
Suzanne Romaine
Keyword(s):  
Bilingual Education ◽  
High Quality ◽  
Amount Of Information ◽  
High Quality Paper ◽  
Languages In Contact ◽  
Full Color ◽  
The Us ◽  
The World

The authors have compiled a truly impressive amount of information pertaining to bilingualism and bilingual education in this single-volume, full-color encyclopedia. Attractively produced on high-quality paper, the book contains 117 main topics, 390 text boxes, 340 pictures, 35 maps, 98 graphs, and 14 diagrams. There are also a glossary, a bibliography containing more than 2,000 entries, and an index. The book is organized into four sections – “Individual bilingualism,” “Languages in society,” “Languages in contact in the world” (with “Language maps of the world”), and “Bilingual education” – each with many subsections.

scholarly journals Retail price discrimination and food waste

2020 ◽  
Vol 47 (5) ◽  
pp. 1861-1896
Author(s):  
Timothy J Richards ◽  
Stephen F Hamilton
Keyword(s):  
Food Waste ◽  
Price Discrimination ◽  
Structural Model ◽  
Quality Standard ◽  
Retail Price ◽  
The Us ◽  
Retail Prices ◽  
Using Data ◽  
Retail Food ◽  
Minimum Quality

Abstract We examine a food retailer’s incentive to use a minimum quality standard as part of a quality-based price-discrimination strategy and show how price discrimination can result in a substantial level of retail food waste. Using data from a major US food retailer, we estimate a structural model of retail price discrimination and conduct a series of counter-factual experiments to demonstrate that observed retail prices are consistent with quality-based price discrimination in the retail market. Our findings indicate that quality standards on fresh produce can explain a substantial proportion ($7.5\%$) of food waste by retailers in the US.

scholarly journals Promoting Equity, Social Justice, and Saving Lives with Life Jacket and Clothing Policies

2020 ◽  
Vol 17 (18) ◽  
pp. 6440 ◽  
Author(s):  
Angela Beale-Tawfeeq ◽  
Linda Quan ◽  
Elizabeth Bennett ◽  
Roy Fielding
Keyword(s):  
Social Justice ◽  
Best Practices ◽  
International Organizations ◽  
Risk Groups ◽  
Diverse Populations ◽  
Racial And Ethnic Minorities ◽  
The Us ◽  
Almost All ◽  
Equity And Inclusion ◽  
Racial Ethnic

Worldwide, diverse racial/ethnic groups have disproportionately higher drowning rates. Learning to swim and wearing life jackets decrease drowning risk. We evaluated aquatic facilities’ policies regarding use of life jackets, clothing, and diapers through a lens of social justice, equity, and inclusion to ensure they met the needs of the diverse high-risk groups they serve and changing aquatic activities and programs. Public recreational pools, beach and waterpark facilities in the US and international organizations were surveyed regarding their policies on life jacket use, clothing, and diapers between 2015 and 2016. A total of 562 facilities responded, mostly pools. Almost all facilities allowed wearing life jackets in the shallow end but less so in the deep end, and wearing of T-shirts, shorts, and clothes for modesty reasons. Policies varied most on wearing non-swim clothes. Almost universal requirement of diapers applied to infants only. Respondents’ reported themes included cost, access, safety, hygiene and equipment maintenance. Reviewed policies generally reflected facilities’ responsiveness to diverse populations’ specific needs. However, policy variations around wearing clothing and swim diapers could be costly, confusing, and impede participation in aquatic activities by vulnerable populations, specifically young children and racial and ethnic minorities. Standardization of these policies could assist aquatic facilities and their users. A best-practices-based policy is outlined.

Risks and Benefits of Vaccinations

1984 ◽  
Vol 5 (9) ◽  
pp. 438-444 ◽  
Author(s):  
Gerhard Wiedermann ◽  
Franz Ambrosch ◽  
Herwig Kollaritsch ◽  
Matthias Kundi
Keyword(s):  
Beneficial Effect ◽  
Risk Ratio ◽  
Risk Groups ◽  
Medical Intervention ◽  
Risk Difference ◽  
Sufficient Accuracy ◽  
Bcg Vaccination ◽  
Risks And Benefits ◽  
Tick Borne Encephalitis ◽  
The Us

Abstract Any medical intervention is expected to prevent sickness and complications of a disease rather than to induce them. This is true for therapy as well as prophylaxis. Special formulas have been developed to calculate the risks and benefits of vaccinations simply but with sufficient accuracy. The risk ratio (Q) tells how many times the risk of contracting certain complications or even death from a disease is greater in unvaccinated than in vaccinated individuals. The risk difference (D) directly expresses the number of complications or deaths that may be prevented by a certain vaccination. It is even possible to evaluate the epidemiologic trend of a disease and to calculate or estimate the point of time when the risks of disease and vaccination are just balanced, ie, when a vaccination has lost its beneficial effect. Vaccinations against measles, poliomyelitis and tick borne encephalitis in Austria are highly beneficial. BCG vaccination is still beneficial on a low level in Austria as far as protection against tuberculosis is concerned. This effect will persist for the rest of this century. The benefit of pertussis vaccination depends on the local epidemiologic situation. It has expired for non-risk groups in Austria since 1976 but continues to persist in the US.

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