作者：Zhou, Jidong
作者单位：New York University
摘要：This paper presents a sequential search model where consumers look for several products from multiproduct firms. Multiproduct search can significantly influence firms' pricing decisions. For example, it can make market prices decrease with search costs. Possible applications of the model are also discussed.
作者：Mayer, Christopher; Morrison, Edward; Piskorski, Tomasz; Gupta, Arpit
作者单位：Columbia University; Columbia University
摘要：We investigate whether homeowners respond strategically to news of mortgage modification programs. We exploit plausibly exogenous variation in modification policy induced by settlement of US state government lawsuits against Countrywide Financial Corporation, which agreed to offer modifications to seriously delinquent borrowers. Using a difference-in-differences framework, we find that Countrywide's monthly delinquency rate increased more than 0.54 percentage points-a 10 percent relative incre...
