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This paper develops a theory to illustrate the relationship between the profitability of firms producing along the value chain and the sequential production stages. Using a bilateral monopoly framewor...
This article shows that mergers between close competitors in the music radio industry lead toimportant changes in product positioning. Firms that buy competing stations tend to differentiatethem and, ...
Sellers of perishable goods increasingly use dynamic pricing strategies as technology makes it easier to change prices and track inventory. This paper tests how accurately theoretical models of dynami...
We present experimental evidence that policies chosen by leaders depend on whether they were elected or appointed. Consistent with previous studies of the “dictator game”, we find that unitary polic...
Optimal Tariffs:The Evidence     Optimal Tariffs  The Evidence       2015/9/22
The theoretical debate over whether countries can and should set tariffs in response to the foreign export elasticities they face goes back to Edgeworth (1894). Despite the centrality of the optimal t...
This paper presents the results of a laboratory experiment designed to investigate whether the option of a Prize Linked Savings (PLS) product alters the likelihood that subjects choose to delay paymen...
Using the 2006 China Agricultural Census (CAC), we examine whether the introduction of the New Cooperative Medical System (NCMS) has affected child mortality, maternal mortality, and school enroll...
Using peer-to-peer (P2P) lending as an example, we show that learning by doing plays an important role in alleviating the information asymmetry between market players. Although the P2P platform (Pro...
The Center for Medicare & Medicaid Services (CMS) initiated the National Medicare Education Program (NMEP) in 1998, aiming to collect information of quality from contracted managed care plans and di...
We study capital misallocation within and across 10 African countries using the World Bank Enterprise Surveys. First, we compare the extent of misallocation among rms within countries. We document h...
Between estimates that exploit cross-sectional variation suggest a positive signi cant e ect of HIV/AIDS on fertility, whereas within estimates that are identi ed of o time-series variation show bo...
We investigate the empirical relation between risk sharing and specialization in production. We find that there is more risk sharing among regions within countries than among countries and that...
We study the spatial allocation of expenditures in the American Recovery and Reinvestment Act (ARRA), one of the largest discretionary funding bills in the history of the United States. Contrary to...
We ˉnd that risk sharing in the European Union (EU) has been increasing over the past decade due to increased cross-ownership of assets across countries. Industrial speciaization has also been increa...
In this paper we show that the week following the sale of a large-prize winning ticket, the winning store experiences a 12 to 38 percent relative sales increase for the winning lotto game. We find t...

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