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作者：Xiao, Mo; Yuan, Zhe
作者单位：University of Arizona; Zhejiang University; Zhejiang University
摘要：US spectrum licenses cover geographically distinct areas and often complement each other. A bidder seeking to acquire multiple licenses is exposed to the risk of winning only isolatedpatches. Using Auction 73 data, we model the bidding process as an entry game with inter-dependent markets and evolving bidder beliefs. Bidders' decisions on bidding provide bounds on licenses' stand-alone values and com-plementarity between licenses. We show that the effects of package bidding on bidders' exposur...
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作者：Choi, Albert H.; Spier, Kathryn E.
作者单位：University of Michigan System; University of Michigan; Harvard University
摘要：When firms collude and charge supracompetitive prices, consumers can bring antitrust lawsuits against the firms. When the litigation cost is low, firms accept the cost as just another cost of doing business, whereas when the cost is high, the firms lower the price to deter litigation. Class action is modeled as a mechanism that allows plaintiffs and attorneys to obtain economies of scale. We show that class actions, and the firms' incentive to block them, may or may not be socially desirable. ...
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作者：Dragone, Davide; Vanin, Paolo
作者单位：University of Bologna
摘要：We consider a broad class of intertemporal economic problems and characterize the short-run and long-run responses of the demand for a good to a permanent increase in its market price. Depending on the interplay between self-productivity and time discounting, we show that dynamic substitution effects can generate price elasticities of opposite signs in the short run and in the long run.
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作者：Tyazhelnikov, Vladimir
作者单位：University of Sydney
摘要：I introduce a model of international production that allows the production chain to be of any length or number of sourcing countries and in which the production process does not have to be perfectly sequential. The presence of trade costs in this model makes firms cluster their production geographically, while trade liberalization allows firms to fragment their production more. Clustering patterns depend on the characteristics of the production structure, with stronger clustering associated wi...
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作者：Heim, Sven; Hueschelrath, Kai; Laitenberger, Ulrich; Spiegel, Yossi
作者单位：Universite PSL; MINES ParisTech; Universite Paris-Pantheon-Assas; Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); IMT - Institut Mines-Telecom; Institut Polytechnique de Paris; Telecom Paris; Universite Paris-Pantheon-Assas; Tel Aviv University
摘要：We address the growing concern that minority shareholding (MS) in rival firms may lessen competition, using the introduction of national leniency programs (LPs) as a shock that destabilizes collusive agreements. Based on data from 63 countries, we find a large and significant immediate increase in domestic horizontal MS acquisitions once an LP is introduced but only in countries where the LP is deemed to be effective. There is no effect on non-horizontal or cross-border MS acquisitions. Our fi...
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作者：Cheng, Ing-Haw; Hsiaw, Alice
作者单位：University of Toronto; Brandeis University
摘要：We model the reporting of sexual misconduct. Individuals underreport misconduct due to strategic uncertainty over whether others will report and corroborate a pattern of behavior. Underreporting occurs if and only if misconduct is widespread. Making sanctions more responsive to reports, raising public awareness of misconduct, implementing con-fidential holding tanks, and appropriately calibrating damage awards can encourage reporting. However, we also show when such policies are ineffective or...
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作者：Smirnov, Aleksei; Starkov, Egor
作者单位：University of Zurich; University of Copenhagen
摘要：Sellers often have the power to censor the reviews of their products. We explore the effect of these censorship policies in markets where some consumers are unaware of possible censorship. We find that if the share of such naive consumers is not too large, then rational consumers treat any bad review that is revealed in equilibrium as good news about product quality. This makes bad reviews worth revealing and allows the seller to use them to signal his product's quality to rational consumers.
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作者：Dessein, Wouter; Lo, Desmond (Ho-Fu); Minami, Chieko
作者单位：Columbia University; Santa Clara University; Kobe University
摘要：We explore the relationship between the volatility of a firm's local environment and its organizational structure. Using micro-level data on managers working for a large retailer, we empirically test and provide support for our theory that a more volatile local environment results in more decentralization only when the need for coordination among subunits is low. In contrast, more local volatility is associated with more centralization when coordination needs are high. Our evi-dence supports t...
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作者：DellaVigna, Stefano; Pope, Devin
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of Chicago
摘要：How robust are experimental results to changes in design? And can researchers anticipate which changes matter most? We consider a real-effort task with multiple behavioral treatments and examine the stability along six dimensions: (i) pure replication, (ii) demographics, (iii) geography and culture, (iv) the task, (v) the output measure, and (vi) the presence of a consent form. We find near-perfect replication of the experimental results and full stability of the results across demographics, s...
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作者：Kovach, Matthew; Tserenjigmid, Gerelt
作者单位：Virginia Polytechnic Institute & State University; University of California System; University of California Santa Cruz
摘要：We introduce the Focal Luce Model (FLM), a random choice model that generalizes Luce's (1959) model (multinomial logit) to account for menu-dependent focality of alternatives. In the FLM, focal alter-natives are relatively more likely to be chosen even after taking utili-ties into account. The FLM captures a variety of bounded rationality models while behaviorally distinguishing between what is focal and the magnitude of the bias from focality. We show how to identify util-ities, focal sets, a...
