Matches in SemOpenAlex for { <https://semopenalex.org/work/W3173273943> ?p ?o ?g. }
Showing items 1 to 71 of
71
with 100 items per page.
- W3173273943 abstract "This paper considers the design of an optimal rating system, in a market with adverse selection. We address two critical questions about rating design: First, given a number of categories, what are the criteria for setting the boundaries between them? Second, what are the gains from increasing the number of categories? A rating system helps reallocate sales from lower- to higher-quality producers, thus mitigating the problem of adverse selection. We focus on two main sources of market heterogeneity that determine the extent and effect of this reallocation: the distribution of firm qualities and the responsiveness of sellers' supply to prices. We provide a simple characterization for the optimal rating system as the solution to a standard k-means clustering problem, and discuss its connection to supply elasticity and the skewness of firm qualities. Our results show that a simple two-tier rating can achieve a large share of full information surplus. Additionally, we characterize the conflicting interests of consumers and producers in the design of a rating system.Institutional subscribers to the NBER working paper series, and residents of developing countries may download this paper without additional charge at www.nber.org." @default.
- W3173273943 created "2021-07-05" @default.
- W3173273943 creator A5012606211 @default.
- W3173273943 creator A5083807854 @default.
- W3173273943 date "2019-09-01" @default.
- W3173273943 modified "2023-09-26" @default.
- W3173273943 title "Optimal Ratings and Market Outcomes" @default.
- W3173273943 hasPublicationYear "2019" @default.
- W3173273943 type Work @default.
- W3173273943 sameAs 3173273943 @default.
- W3173273943 citedByCount "0" @default.
- W3173273943 crossrefType "posted-content" @default.
- W3173273943 hasAuthorship W3173273943A5012606211 @default.
- W3173273943 hasAuthorship W3173273943A5083807854 @default.
- W3173273943 hasConcept C111472728 @default.
- W3173273943 hasConcept C111919701 @default.
- W3173273943 hasConcept C138885662 @default.
- W3173273943 hasConcept C144133560 @default.
- W3173273943 hasConcept C149782125 @default.
- W3173273943 hasConcept C154945302 @default.
- W3173273943 hasConcept C162118730 @default.
- W3173273943 hasConcept C162324750 @default.
- W3173273943 hasConcept C162853370 @default.
- W3173273943 hasConcept C175444787 @default.
- W3173273943 hasConcept C2779530757 @default.
- W3173273943 hasConcept C2780154274 @default.
- W3173273943 hasConcept C32252159 @default.
- W3173273943 hasConcept C41008148 @default.
- W3173273943 hasConcept C81917197 @default.
- W3173273943 hasConceptScore W3173273943C111472728 @default.
- W3173273943 hasConceptScore W3173273943C111919701 @default.
- W3173273943 hasConceptScore W3173273943C138885662 @default.
- W3173273943 hasConceptScore W3173273943C144133560 @default.
- W3173273943 hasConceptScore W3173273943C149782125 @default.
- W3173273943 hasConceptScore W3173273943C154945302 @default.
- W3173273943 hasConceptScore W3173273943C162118730 @default.
- W3173273943 hasConceptScore W3173273943C162324750 @default.
- W3173273943 hasConceptScore W3173273943C162853370 @default.
- W3173273943 hasConceptScore W3173273943C175444787 @default.
- W3173273943 hasConceptScore W3173273943C2779530757 @default.
- W3173273943 hasConceptScore W3173273943C2780154274 @default.
- W3173273943 hasConceptScore W3173273943C32252159 @default.
- W3173273943 hasConceptScore W3173273943C41008148 @default.
- W3173273943 hasConceptScore W3173273943C81917197 @default.
- W3173273943 hasLocation W31732739431 @default.
- W3173273943 hasOpenAccess W3173273943 @default.
- W3173273943 hasPrimaryLocation W31732739431 @default.
- W3173273943 hasRelatedWork W1501028932 @default.
- W3173273943 hasRelatedWork W1515636054 @default.
- W3173273943 hasRelatedWork W1965564911 @default.
- W3173273943 hasRelatedWork W1993754129 @default.
- W3173273943 hasRelatedWork W2036531211 @default.
- W3173273943 hasRelatedWork W2059253068 @default.
- W3173273943 hasRelatedWork W2089546985 @default.
- W3173273943 hasRelatedWork W2265447164 @default.
- W3173273943 hasRelatedWork W2504082748 @default.
- W3173273943 hasRelatedWork W2505674114 @default.
- W3173273943 hasRelatedWork W2733546325 @default.
- W3173273943 hasRelatedWork W281280697 @default.
- W3173273943 hasRelatedWork W2890115432 @default.
- W3173273943 hasRelatedWork W2898195815 @default.
- W3173273943 hasRelatedWork W2905602127 @default.
- W3173273943 hasRelatedWork W2972122869 @default.
- W3173273943 hasRelatedWork W3004625782 @default.
- W3173273943 hasRelatedWork W3045597202 @default.
- W3173273943 hasRelatedWork W3094048312 @default.
- W3173273943 hasRelatedWork W3128792446 @default.
- W3173273943 isParatext "false" @default.
- W3173273943 isRetracted "false" @default.
- W3173273943 magId "3173273943" @default.
- W3173273943 workType "article" @default.