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作者：Biglaiser, Gary; Cremer, Jacques; Veiga, Andre
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; Imperial College London
摘要：We study incumbency advantage in markets with positive consumption externalities. Users of an incumbent platform receive stochastic opportunities to migrate to an entrant and can either accept them or wait for a future opportunity. In some circumstances, users have incentives to delay migration until others have migrated. If they all do so, no migration takes place, even when migration would have been Pareto-superior. We use our framework to identify environments where incumbency advantage is ...
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作者：Raval, Devesh; Rosenbaum, Ted; Wilson, Nathan E.
摘要：Although diversion ratios are important inputs to merger evaluation, there is little evidence about how accurately discrete choice models predict diversions. Using a series of natural disasters that unexpectedly closed hospitals, we compare observed post-disaster diversion ratios to those predicted from pre-disaster data using standard models of hospital demand. We find that all standard models consistently underpredict large diversions. Both unobserved heterogeneity in preferences over travel...
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作者：Grieco, Paul L. E.; Li, Shengyu; Zhang, Hongsong
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; University of New South Wales Sydney; University of Hong Kong
摘要：We develop a dynamic model to analyze the impact of input tariff liberalization on input prices, trading decisions, and productivity. Although input tariffs directly affect input price benefits of importing, their impact on trade participation generates indirect benefits through productivity improvements and complementarity between importing and exporting. To disentangle these effects, we separately measure importing's effect on input prices and productivity and examine Chinese paint manufactu...
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作者：Kambhampati, Ashwin; Segura-Rodriguez, Carlos
作者单位：United States Department of Defense; United States Navy; United States Naval Academy
摘要：How does a profit-maximizing manager form teams and compensate workers when workers have private information about their productivity and exert hidden effort once in a team? We study a team production model in which positive assortative matching is both efficient and profit-maximizing under pure adverse selection and pure moral hazard. We show that the interaction of adverse selection and moral hazard can lead to nonassortative matching if complementarities are sufficiently weak. When this is ...
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作者：Dranove, David; Garthwaite, Craig; Hermosilla, Manuel
作者单位：Northwestern University; Johns Hopkins University
摘要：Prior literature shows that stronger consumer demand leads to increased pharmaceutical R&D. However, how strong these demand-pull effects are for more scientifically novel drug innovation remains unknown. We address this question using comprehensive clinical trial data that include precise characterizations of the scientific approaches used in tested molecules. We characterize scientific novelty as the number of times each approach has been used in the past. Exploiting exogenous demand variati...
