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作者：Gomes, Renato; Pavan, Alessandro
作者单位：Central Bank of Brazil; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Northwestern University; Centre for Economic Policy Research - UK
摘要：We introduce a model of (platform-mediated) many-to-many matching in which agents' preferences are both vertically and horizontally differentiated. We first show how the model can be used to derive the profit-maximizing matching plans under customized pricing. We then investigate the implications for targeting and welfare of uniform pricing (be it explicitly mandated or induced by privacy regulation), preventing the platform from conditioning prices on agents' profiles. The model can be applie...
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作者：Dye, Ronald A.; Sridhar, Sri S.
作者单位：Northwestern University
摘要：Management earnings forecasts (MEF), a form of voluntary disclosure, are different from most other disclosures because MEF have spillover effects on managers' subsequent operating decisions and earnings reports. These effects arise from managers' attempts to reduce their forecast errors. Even though managers can separate their firms from less profitable firms by issuing forecasts the latter cannot match, there is no equilibrium where all managers issue forecasts. We show that managers who issu...
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作者：Zhu, John Y.
作者单位：University of Kansas
摘要：New technologies allow firms to collect more information about worker performance than ever before. How will this extra information-much of which is non-contractible and is used at the firm's discretion-impact incentives? I highlight a better monitoring/worse outcome channel that speaks to these concerns. Some improvements to monitoring tempt the firm to punish excessively. Workers then demand contracts with a small punishment threat. Without a serious punishment threat, effort and surplus dec...
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作者：Martin, Simon
作者单位：University of Vienna
摘要：We estimate a model of incomplete information price competition where consumers endogenously choose whether to use a price search website. We examine how consumer search and prices would change under different transparency regimes. We find that aggregate consumer welfare is maximized when the price search website lists the lowest 20% of prices (i.e., one station in markets with less than five stations, and two stations in markets with more than five stations), with consumer expenditures fallin...
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作者：Michel, Christian; Paz y Mino, Jose Manuel; Weiergraeber, Stefan
作者单位：Charles River Associates; Barcelona School of Economics; Universidad de Chile; Indiana University System; Indiana University Bloomington
摘要：We estimate the evolution of competition in the ready-to-eat cereal industry. To separately identify detailed patterns of industry conduct from unobserved marginal cost shocks, we construct novel instruments that interact data on rival firms' promotions with measures of products' relative isolation in the characteristics space. We find strong evidence for partial price coordination among cereal manufacturers in the beginning of our sample. After a merger in 1993 conduct becomes more competitiv...
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作者：Buchsbaum, Jesse; Hausman, Catherine; Mathieu, Johanna L.; Peng, Jing
作者单位：University of Chicago; University of Michigan System; University of Michigan; University of Michigan System; University of Michigan
摘要：In electricity markets, generators are rewarded for providing energy and for enabling grid reliability. The two functions are compensated separately: with energy market payments and ancillary services market payments. We provide evidence of changes in the generation mix in the energy market that are driven by exogenous changes in an ancillary services market. We provide a theoretical framework and quasi-experimental evidence for understanding the mechanism: it results from the multi-product na...
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作者：Gong, Qiang; Xu, Yujing; Yang, Huanxing
作者单位：Zhongnan University of Economics & Law; Shenzhen University; Audencia; Shenzhen University; University System of Ohio; Ohio State University
摘要：We study a dynamic model of price competition with differentiated products in which new generations of consumers acquire information about available products from their friends of previous generations. The social network, which links consumers across generations, affects the evolution of consumers' awareness of products and firms' long-term (steady-state) market shares. Focusing on steady-state equilibria, we examine how the structure of the social network-including connectivity and homophily-...
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作者：Chen, Nan; Tsai, Hsin-Tien
作者单位：National University of Singapore; National University of Singapore
摘要：This article studies self-preferencing in algorithmic recommendations on dominant platforms, focusing on Amazon's dual role as platform owner and retailer. We find that products sold by Amazon receive substantially more Frequently Bought Together recommendations across popularity deciles. To establish causality, we exploit within-product variation generated by Amazon stockouts. We find that when Amazon is out of stock, identical products sold by third-party sellers face an eight-percentage-poi...
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作者：Ritz, Robert A.
作者单位：University of Cambridge
摘要：In recent years, the literature has seen a surge of interest in pass-through as an economic tool. At the same time, widespread concerns have emerged about the rising market power of firms. How does competition affect pass-through? A standard intuition is that more competition makes prices more cost-reflective and hence raises the rate of cost pass-through. This article shows this conclusion is sensitive to the routine assumption that firms' marginal costs are constant. With modestly convex cos...
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作者：Hummel, Patrick; Morgan, John; Stocken, Phillip C.
作者单位：Microsoft; University of California System; University of California Berkeley; Dartmouth College
摘要：We study a voluntary disclosure model with verifiable information, a range of sender and receiver preferences, and uncertainty about whether the sender is informed. When a sender's preferences are insensitive to the state relative to the receiver's, a sender discloses moderate news and suppresses extreme news. We also find a partial revelation equilibrium where the sender's message is an interval containing the realized state. When a sender's preferences are sensitive to the state relative to ...
