全球智库信息集成服务系统(G2TT): DP6061 Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP6061
	DP6061 Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability
	Pietro Veronesi; Luboš Pástor; Lucian Taylor
发表日期	2007-01-21
出版年	2007
语种	英语
摘要	We study two-sided markets with heterogeneous, privately informed agents who gain from being matched with better partners from the other side. Agents are matched through an intermediary. Our main results quantify the relative attractiveness of a coarse matching scheme consisting of two classes of agents on each side, in terms of matching surplus (output), the intermediary's revenue, and the agents' welfare (defined by the total surplus minus payments to the intermediary). In a nutshell, our philosophy is that, if the worst-case scenario under coarse matching is not too bad relative to what is achievable by more complex, finer schemes, a coarse matching scheme will turn out to be preferable once the various transaction costs associated with fine schemes are taken into account. Similarly, coarse matching schemes can be significantly better than completely random matching, requiring only a minimal amount of information.
主题	Industrial Organization
关键词	Matching Nonlinear pricing
URL	https://cepr.org/publications/dp6061
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/534899
推荐引用方式 GB/T 7714	Pietro Veronesi,Luboš Pástor,Lucian Taylor. DP6061 Entrepreneurial Learning, the IPO Decision, and the Post-IPO Drop in Firm Profitability. 2007.