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Ram Orzach
Associate Professor of Economics
School of Business Administration
Rochester MI 48309-4493
Contact Information
Phone: (248) 370-4965
Fax: (248) 370-4275
Email: Orzach@oakland.edu
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Education
Tel-Aviv University (B.Sc., M.Sc., Ph.D.)
Specialties
- Microeconomics
- Industrial Organization
- Law & Economic
Bio
Ram Orzach specializes in the area of strategic behavior under asymmetric information. When private information is held by a decision maker and he has to choose an action that the market observes and responds to, it is considered a signaling game. Ram works on signaling games concerning advertising and entrepreneurship. When the private information is held by more than one decision maker, it is considered a multi-sender game. Ram analyzed the strategic pricing behavior of incumbent firms facing entrants. Models in which the decision makers hold different information are called differential information. Recent work introduces these methods to Law and Economics.
Ram uses methods of differential information to compare the seller’s revenue in second-price auctions to the seller’s revenue if he uses first-price auctions. Second-price auctions (in some variations) are used by the USA government to sell spectrum, while first-price auctions are used by the Federal Reserve and the treasury in the money market. The debate is which auction generates more revenue?
Publications