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作者：Ershov, Daniel; Mitchell, Matthew
作者单位：University of London; University College London; University of Toronto
摘要：We study the effects of advertising disclosure regulations in social media markets. Using data from a large sample of Instagram influencers in Germany and Spain and a difference-in-differences approach, we empirically evaluate the effects of German strengthening of disclosure regulations on post content and follower engagement. We measure whether posts include suggested disclosure terms and use text-based approaches (keywords, machine learning) to assess whether a post is sponsored. We show su...
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作者：Li, Hanzhe
作者单位：University of Hong Kong
摘要：How does the politician's reputation concern affect information provision when the information is endogenously provided by a biased lobbyist? I develop a model to study this problem and show that the answer depends on the transparency design. When the lobbyist's preference is publicly known, the politician's reputation concern induces the lobbyist to provide more information. When the lobbyist's preference is unknown, the politician's reputation concern may induce the lobbyist to provide less ...
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作者：Chi, Chang Koo; Olsen, Trond E.
作者单位：Yonsei University; Norwegian School of Economics (NHH)
摘要：This article investigates contracts between two risk-neutral parties with bounded bonus payments. If the available signal about the agent's behavior satisfies a novel condition, the monotone likelihood ratio transformation property, the optimal contract takes a simple form irrespective of whether the first-order approach (FOA) is valid or not. The contract rewards the agent the maximum bonus if the signal's likelihood ratio exceeds a threshold, which in contrast to the FOA contract is not nece...
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作者：Duarte, Marco; Magnolfi, Lorenzo; Roncoroni, Camilla
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine; University of Wisconsin System; University of Wisconsin Madison; University of Warwick
摘要：Consumer cooperatives are firms owned by their customers. Although their organizational form should commit these firms not to exploit their market power, in practice, weak governance may allow managers to pursue other objectives. Using data and a structural model, we test whether consumer cooperatives in the Italian supermarket industry act as profit-maximizing firms. We find no significant deviations from profit maximization. Based on a counterfactual exercise, even a mild degree of internali...
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作者：Butters, R. Andrew; Sacks, Daniel W.; Seo, Boyoung
作者单位：Pennsylvania State System of Higher Education (PASSHE); Indiana University of Pennsylvania; University of Wisconsin System; University of Wisconsin Madison
摘要：Examining widely-sold products across dozens of categories in a national scanner database, we find seasonality in demand is large-20 log points for the median category, and pervasive. At seasonal frequencies, price fluctuations are typically countercyclical but small-1.5 log points on average. For most categories, we find seasonality in demand is driven by extensive margin changes in households purchasing any product in the category, and coincides with demand becoming more elastic as it peaks....
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作者：Benatia, David; de Villemeur, etienne Billette
作者单位：Universite de Montreal; HEC Montreal; Universite de Lille; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS)
摘要：This article investigates the incentives for firms with market power to manipulate markets by strategically reneging on forward commitments. We first study the behavior of a dominant firm in a two-period model with demand uncertainty. We then use the model's predictions and a machine learning approach to investigate multiple occurrences of reneging on long-term commitments in Alberta's electricity market in 2010-2011. We find that a supplier significantly increased its revenues by strategicall...
