Working Papers

PUBLISHED AS: New Market Policy Effects on Used Markets: Theory and Evidence

Investment tax credits are generally implemented to stimulate investment in new goods. However, in the case of durable goods

This working paper presents the findings of copy test research on consumer perceptions of heart-health claims in print advertisements for a fictitious cooking oil low in saturated fat, and a vegetable

Aggregate demand models typically assume that consumers choose between all available products. Since consumers may be unwilling to search across every store in a given market for a particular item

In their famous 1984 paper, Shapiro & Stiglitz developed what has become the canonical efficiency wage model. In their model, all workers are paid an efficiency wage, and no one shirks. Their model is

This paper explores the relationship between competition and hospital charity care by analyzing changes in charity care associated with changes in a hospital’s competitive environment (due to mergers

This paper explores a firm's incentive to technologically tie when R&D is important and finds that technological tying increases innovation, which is an efficiency not considered in other tying models

I examine online and offline prices for popular disposable contact lenses. Idiosyncratic features of this market make it likely that offline firms set prices on the assumption that most of their

The most popular methodology used by the U.S. International Trade Commission (USITC) from 1989 through 1994 to determine whether unfairly traded imports injure competing domestic industries was known

I analyze the effect on consumer welfare of settlements of patent infringement lawsuits that consist of a royalty-free license for delayed entry by a potentially infringing horizontal competitor of

This paper develops and estimates a dynamic equilibrium model of the market for commercial aircraft. Airline choices are modeled as the solution to a discrete time dynamic programming problem, where

PUBLISHED AS: Who Are the Victims of Identity Theft? The Effect of Demographics 

This paper examines whether the likelihood that an individual will experience identity theft varies with the individual

PUBLISHED AS: Do Gasoline Mergers Affect Consumers' Prices?  The Marathon-Ashland and UDS Transaction

Marathon-Ashland Petroleum’s (MAP) 1999 acquisition of the Michigan assets of Ultramar Diamond

This working paper presents the findings of copy test research on consumer perceptions of food and dietary supplement print advertisements containing qualified health claims for diet-disease

It is widely believed that larger customers in a market can secure lower prices than smaller customers. This paper presents conditions under which risk averse sellers, who can distinguish larger

In this paper, we examine price movements over time around the collapse of a bid-rigging conspiracy. While the mean decreased by sixteen percent, the standard deviation increased by over two hundred

This paper estimates a duration model of late stage drug development in the pharmaceutical industry using publicly available data. The paper presents descriptive results on the estimated relationship

Conventional outcomes report cards-- public disclosure of information about the patient-background-adjusted health outcomes of individual hospitals and physicians – may help improve quality, but they

PUBLISHED AS: Estimating Demand from eBay Prices

This paper presents assumptions and identification results for eBay type auctions. These results are for private value auctions covering three major

We review explanations for two controversial vertical restraints commonly used in gasoline marketing: price zones and territorial restrictions. After a discussion of the relevant empirical and

This study measures the retail and wholesale price effects in Louisville, Kentucky resulting from the Marathon/Ashland (MAP) joint venture. MAP was an early transaction in the recent era of petroleum