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作者：Kokovin, Sergey; Ozhegova, Alina; Sharapudinov, Shamil; Tarasov, Alexander; Ushchev, Philip
作者单位：HSE University (National Research University Higher School of Economics); Norwegian School of Economics (NHH); Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; HSE University (National Research University Higher School of Economics); Universite Libre de Bruxelles
摘要：Our novel approach to modeling monopolistic competition with heterogeneous firms and consumers involves spatial product differentiation, in either a geographical space or a space of characteristics. In addition to price, each firm chooses location in space. We formulate conditions for positive sorting-more-productive firms serve larger market segments and face tougher competition-and for existence and uniqueness of equilibrium. To quantify the role of sorting, we calibrate the model using hair...
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作者：Fudenberg, Drew; Rehbinder, Gustav arreskog
作者单位：Massachusetts Institute of Technology (MIT); Uppsala University
摘要：We use simulations of a simple learning model to predict cooperation rates in the experimental play of the indefinitely repeated prisoner's dilemma. We suppose that learning and the game parameters only influence play in the initial round of each supergame, and that after these rounds, play depends only on the outcome of the previous round. We find that our model predicts out -of -sample cooperation at least as well as models with more parameters and harder -to -interpret machine learning algo...
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作者：Janssen, Maarten; Williams, Cole
作者单位：University of Vienna; Durham University
摘要：E -commerce has led to a surge in products being returned after purchase. We analyze product returns as resulting from a trade-off between the social waste of returns and the search efficiency gains of being able to inspect a product's value after purchase. We find whenever returns are efficient , the market generates too few returns, as the parties involved in the transaction do not internalize the welfare benefit of consumers continuing their search , generating profits for other firms. We a...
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作者：Apffelstaedt, Arno; Freundt, Jana
作者单位：University of Cologne
摘要：Allegations of voter fraud accompany many real-world elections. How does electoral malpractice affect the acceptance of elected institutions? Using an online experiment in which participants distribute income according to majority-elected rules, we show that those who experience vote buying or voter disenfranchisement during the election are subsequently less likely to voluntarily comply with a rule. On average, the detrimental impact of electoral malpractice on compliance is of the same magni...
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作者：Benson, David; Blattner, Samuel; Grundl, Serafin; Kim, You suk; Onishi, Ken
作者单位：Federal Reserve System - USA; Federal Reserve System Board of Governors; Hitotsubashi University
摘要：Antitrust often uses the Herfindahl-Hirschman Index ( HHI ) for merger screening and review. We argue that HHI-based antitrust policy using predefined markets in the banking industry misses anticompetitive effects that are predicted by the proximity of merging branch networks. Difference-in-differences estimates from thousands of mergers reveal that close-proximity bank acquisitions have harmful effects, , including branch closures, , even if they fall below the HHI threshold for enforcement. ...
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作者：Lipsitz, Michael; Tremblay, Mark j.
作者单位：Nevada System of Higher Education (NSHE); University of Nevada Las Vegas
摘要：Employee spin-offs harm incumbent firms by increasing competition ( benefiting consumers) and preventing firm owners from making beneficial investments in workers who may later spin off ( harming consumers). We model noncompete agreements ( NCAs ) as solutions for the firm and analyze the resulting trade-off for consumers. We show that market structure and the nature of investment play large roles. Counterintuitively, increased investment benefits have the potential to harm consumers such that...
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作者：Wei, Dong; Green, Brett
作者单位：University of California System; University of California Santa Cruz; Washington University (WUSTL)
摘要：A seller markets a good to a customer whose willingness to pay depends on his private type and the good's quality. The seller designs a screening mechanism that specifies both transfers and information revealed about quality. We show that the optimal mechanism can be implemented by a menu of price -experiment pairs, featuring both price discrimination and information discrimination: buyers with higher private types face lower prices and receive less discerning positive signals. Moreover, we de...
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作者：Angelucci, Charles; Cage, Julia; Sinkinson, Michael
作者单位：Massachusetts Institute of Technology (MIT); Institut d'Etudes Politiques Paris (Sciences Po); Yale University
摘要：Technological innovations like broadcast television and the internet challenge local newspapers' business model of bundling their local content with third-party content, such as wire national news. We examine how the entry of television affected newspapers and news diets in the United States. We construct a dataset of newspapers' economic performance and content choices from 1944 to 1964 and exploit quasi-random variation in the rollout of television to show its negative impact in the readersh...
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作者：Toyama, Yuta
作者单位：Waseda University
摘要：This paper develops and estimates a dynamic structural model of emissions abatement, , investment, , and permit trading with banking under cap-and-trade regulation. The model accounts for forward-looking behavior and transaction costs in the permit market, , which determine the temporal and geographical distribution of emissions in equilibrium and, , thus, , the welfare implications of the regulation. The model is applied to the US Acid Rain Program to evaluate the role of regulatory designs. ...
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作者：Thaler, Michael
作者单位：University College London Hospitals NHS Foundation Trust; University of London; University College London
摘要：Motivated reasoning posits that people distort how they process information in the direction of beliefs they find attractive. This paper creates a novel experimental design to identify motivated reasoning from Bayesian updating when people have preconceived beliefs. It analyzes how subjects assess the veracity of information sources that tell them the median of their belief distribution is too high or too low. Bayesians infer nothing about the source veracity , but motivated beliefs are evoked...
