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作者：Strulov-Shlain, Avner
作者单位：University of Chicago
摘要：Firms arguably price at ninety-nine-ending prices because of left-digit bias-the tendency of consumers to perceive a $4.99 as much lower than a $5.00. Analysis of retail scanner data on 3500 products sold by twenty-five U.S. chains provides robust support for this explanation. I structurally estimate the magnitude of left-digit bias and find that consumers respond to a one-cent increase from a ninety-nine-ending price as if it were more than a twenty-cent increase. Next, I solve a portable mod...
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作者：Anderson, Simon; Baik, Alicia; Larson, Nathan
作者单位：University of Virginia; American University
摘要：We study list price competition when firms can individually target consumer discounts (at a cost) afterwards, and we address recent privacy regulation (like the GDPR) allowing consumers to choose whether to opt-in to targeting. Targeted consumers receive poaching and retention discount offers. Equilibrium discount offers are in mixed strategies, but only two firms vie for each contested consumer and final profits on them are Bertrand-like. When targeting is unrestricted, firm list pricing rese...
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作者：DYRDA, S. E. B. A. S. T. I. A. N.; PEDRONI, M. A. R. C. E. L. O.
作者单位：University of Toronto; University of Amsterdam
摘要：We study optimal fiscal policy in a standard incomplete-markets model with uninsurable idiosyncratic income risk, where a Ramsey planner chooses time-varying paths of proportional capital and labour income taxes, lump-sum transfers (or taxes), and government debt. We find that (1) short-run capital income taxes are effective in providing redistribution since the tax base is relatively unequal and inelastic; (2) an increasing pattern of labour income taxes over time mitigates intertemporal dist...
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作者：Borella, Margherita; De Nardi, Mariacristina; Yang, Fang
作者单位：University of Turin; University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Centre for Economic Policy Research - UK; National Bureau of Economic Research; Louisiana State University System; Louisiana State University
摘要：In the US, both taxes and old-age social security benefits depend on one's marital status and tend to reduce the labour supply of the secondary earner. To what extent are these provisions holding back the female labour supply? We estimate a rich dynamic life-cycle model of labour supply and savings for couples and singles using the Method of Simulated Moments for the 1945 and 1955 birth cohorts. Our model matches well the life-cycle profiles of labour market participation, hours, and savings f...
