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作者：Kim, Harim
作者单位：University of Mannheim
摘要：Industry-wide shocks can have heterogeneous impacts on firms' costs due to different firm characteristics. The heterogeneity of these impacts is crucial for understanding the pass-through of the shock because of its implications for strategic competition. In the context of the gas price shock in the electricity market, I develop a method to identify the heterogeneous impacts of the shock and show, with a structural analysis, that the heterogeneous feature of the shock induces markup adjustment...
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作者：Shapiro, Bradley T.
作者单位：University of Chicago
摘要：It is taken as given by many policy makers that Direct-to-Consumer Advertising of prescription drugs drives inappropriate patients to treatment. Alternatively, advertising may provide useful information that causes appropriate patients to seek treatment. I study this dynamic in the context of antidepressants. Leveraging variation driven by the borders of television markets, I find that a 10 percent increase in antidepressant advertising leads to a 0.3 percent ($32 million) increase in new pres...
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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：Friberg, Richard; Steen, Frode; Ulsaker, Simen A.
作者单位：Stockholm School of Economics; Stockholm School of Economics
摘要：This paper examines the effect of cross-border shopping on grocery demand in Norway using monthly store x category sales data from Norway's largest grocery chain 2012-2016. The sensitivity of demand to the foreign price is hump-shaped and greatest 30-60 minutes' driving distance from the closest foreign store. Combining continuous demand, fixed costs of cross-border shopping, and linear transport costs a la Hotelling, we show how this hump shape can arise through a combination of intensive and...
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作者：Diasakos, Theodoros M.; Gerasimou, Georgios
作者单位：University of Stirling; University of St Andrews
摘要：It is frequently assumed in several domains of economics that demand functions are invertible in prices. At the primitive level of preferences, however, the corresponding characterization has remained elusive. We identify necessary and sufficient conditions on a utility-maximizing consumer's preferences for her demand function to be continuous and invertible: strict convexity, strict monotonicity, and differentiability in the sense of Rubinstein (2006). We further show that Rubinstein differen...
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作者：Peski, Marcin
作者单位：University of Toronto
摘要：We develop a tractable, dynamic, and strategic model of many-to-many matching with payoff externalities across links. The joint dynamic surplus or certain second properties of individual utilities, like pay-off externalities, can typically be identified. We characterize a class of interior equilibria as solutions to an optimization problem with an objective function that consists of welfare minus an inefficiency loss term. In equilibrium, too few matches are formed. We compare trans-ferable an...
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作者：Jeon, Doh-Shin; Kim, Byung-Cheol; Menicucci, Domenico
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Alabama System; University of Alabama Tuscaloosa; University of Florence
摘要：We study second-degree price discrimination by a two-sided monopoly platform. The incentive constraints of the agents on the value creation side may be in conflict with internalizing externalities on the value capture side, which may render pooling optimal. Even without such conflict between the two sides, pooling may be optimal due to type-dependent Spence effects when the preferences of the marginal agents diverge from those of the average agents on the value capture side. We perform a welfa...
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作者：Libgober, Jonathan
作者单位：University of Southern California
摘要：I develop a theoretical model of costly information acquisition in order to evaluate transparency requirements in empirical research. A sender chooses an experiment characterized by multiple dimensions, while a receiver observes the experiment's outcome (though not necessarily all dimensions). I show that the receiver may prefer to keep dimensions hidden, even those contributing to bias, despite preferring more informative experiments. This can occur if the perception of bias is lessened when ...
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作者：Wakker, Peter P.
作者单位：Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：Chung, Glimcher, and Tymula (2019) observed both consumers' choices over commodity bundles and choices under risk. They assumed a cardinal riskless utility function V representing consumer choices and a cardinal risky utility function U. The two were inconsistent. This note shows that the two functions can be reconciled if we assume that V is ordinal. Then one utility function U can accommodate both risky and riskless choices.
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作者：Byrne, David P.; de Roos, Nicolas
作者单位：University of Melbourne; University of Sydney
摘要：Workhorse economic models used for studying the market impacts of search frictions assume constant search costs: individuals pay the same cost to obtain price information each time they search. This paper provides evidence on a new form of search costs: start-up costs. Exploiting a natural experiment in retail gasoline, we document how a temporary, large exogenous shock to consumers' search incentives leads to a substantial, permanent increase in price search. A standard search model fails to ...
