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作者：Miravete, Eugenio J.; Seim, Katja; Thurk, Jeff
作者单位：University of Texas System; University of Texas Austin; Center for Economic & Policy Research (CEPR); Yale University; National Bureau of Economic Research; University of Notre Dame
摘要：Commodity taxation often involves uniform tax rates. We use alcohol laws that tax differentiated spirits with a comprehensive uniform markup to evaluate redistribution generated by such simple tax policy. We document preference heterogeneity among consumers, variation in product demand elasticities, and market power among producers with heterogeneous product portfolios. Relative to more flexible product-level markups recognizing demand heterogeneity and strategic price responses of firms, we f...
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作者：Fainmesser, Itay P.; Galeotti, Andrea
作者单位：Johns Hopkins University; Johns Hopkins University; University of London; London Business School
摘要：We steady the practice of influencer marketing in oligopoly markets and its effect on market efficiency. In our model, each consumer is influenced by choices of a subset of other consumers. Firms gather information on consumers' influence and price discriminate using this information. In equilibrium, firms charge premial subsidize below-/above-average-influential consumers; the premial discounts depend on the strength of network effects and on how much information firms have on consumers' infl...
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作者：Biglaiser, Gary; Cremer, Jacques
作者单位：University of North Carolina; University of North Carolina Chapel Hill; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We study competition for the market in a dynamic model with network externalities, focusing on the efficiency of market outcomes. We propose a representation of the strategic advantages of incumbency and embed it in a dynamic framework with heterogeneous consumers. Then, we completely identify the conditions under which inefficient equilibria with several platforms emerge at equilibrium; explore the reasons why these inefficient equilibria arise; and compute the value of incumbency and analyze...
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作者：Ali, S. Nageeb; Benabou, Roland
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Princeton University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; IZA Institute Labor Economics; Canadian Institute for Advanced Research (CIFAR)
摘要：We analyze the costs and benefits of using social image to foster desirable behaviors. Each, agent acts based on his intrinsic motivation, private assessment of the public good, and reputational concern for appearing prosocial. A Principal sets the general degree of privacy, observes the social outcome, and implements a policy: investment, subsidy, law, etc. Individual visibility reduces free riding but makes aggregate behavior (descriptive norm) less informative about societal preferences (pr...
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作者：Butters, R. Andrew
作者单位：Indiana University System; IU Kelley School of Business; Indiana University Bloomington
摘要：Measures of productivity reveal large differences across producers even within narrowly defined industries. Traditional measures of productivity, however, will associate differences in demand volatility to differences in productivity when adjusting factors of production is costly. I document this effect by comparing the influence of demand volatility on capacity utilization in a high (hotels) and low (airlines) adjustment cost industry. Differences in annual demand volatility explain a large s...
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作者：Mauring, Eeva
作者单位：University of Vienna
摘要：I show that market participants' equilibrium beliefs can create fluctuations in the volume of trading, even in a stationary environment. I study a sequential search model where buyers face an unknown distribution of offers. Each buyer learns about the distribution by observing whether a randomly chosen buyer traded yesterday. A cyclical equilibrium exists where the informational content of observing a trade fluctuates, which leads to fluctuations in the volume of trading. The cyclical equilibr...
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作者：Chang, Jen-Wen
作者单位：California State University System; California State University Fullerton
摘要：An entrepreneur finances her project via crowdfunding. She chooses a funding mechanism (fixed or flexible), a price, and a funding goal. Under fixed funding, money is refunded if the goal is not met; under flexible funding, there is no refund. Backers observe signals about project value and decide whether to contribute or postpone purchase to the retail stage. Using the linkage principle, we show that the optimal campaign uses fixed funding. Furthermore, we show that an entrepreneur who is not...
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作者：Henry, Emeric; Louis-Sidois, Charles
作者单位：University of Mannheim
摘要：Members of groups and organizations often have to decide on rules that regulate their contributions to common tasks. They typically differ in their propensity to contribute and often care about the image they project; in particular, they want to be perceived by other group members as being high contributors. In such environments we study the interaction between how members vote on rules and their subsequent contribution decisions. We show that making contributions visible affects the calculus ...
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作者：Cao, Dan; Lagunoff, Roger
作者单位：Georgetown University
摘要：We examine the role of collateral in a dynamic model of optimal credit contracts in which a borrower values both housing and nonhousing consumption. The borrower's private information about his income is the only friction. An optimal contract is collateralized when in some state, some portion of the borrower's net worth is forfeited to the lender. We show that optimal contracts are always collateralized. The total value of forfeited assets is decreasing in income, highlighting the role of coll...
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作者：Cherchye, Laurens; Demuynck, Thomas; De Rock, Bram; Surana, Khushboo
作者单位：KU Leuven; Universite Libre de Bruxelles; KU Leuven; University of York - UK
摘要：We present a revealed preference methodology for nonparametric demand analysis under the assumption of normal goods. Our methodology is flexible in that it allows for imposing normality on any subset of goods. We show the usefulness of our methodology for empirical welfare analysis through cost-of-living indices. An illustration to US consumption data drawn from the Panel Study of Income Dynamics (PSID) demonstrates that mild normality assumptions can substantially strengthen the empirical ana...
