Consumer search activities can be endogenously determined by the ad positions in sponsored search advertising. We model how advertisers compete for ad positions in sponsored listing and conditional on the list of sponsored ads, how online consumers search for information and make purchase...

The authors study users’ click behavior on organic and sponsored links after a keyword search at a search engine. Using a dataset obtained from a search engine, they analyze over 1.5 million user searches for multiple keywords over the span of one month. They find that consumers’ click...

Extant preference measurement research, including conjoint analysis, is done in the isolation of one’s own mind. That is, it remains completely silent on the explicit influence of others in the formation of consumer preferences. This paper proposes a new holistic framework of preference, PIE,...

When bidders incur a cost to learn their valuations, bidder entry can impact auction performance. Two common selling mechanisms in this environment are an English auction, and a sequential bidding process. Bulow and Klemperer (2009) show, theoretically, that sellers should prefer the auction,...

Game theoretic models require strong informational assumptions that may not hold in operations applications. In such settings, how do uninformed players behave? We take a first step towards addressing this question by conducting a controlled human subject experiment. We focus on a simple...

This paper examines the information content of insider silence, periods of no insider trading. We hypothesize that, to avoid litigation risk, rational insiders do not sell own-company shares when they anticipate bad news; neither would they buy, given unfavorable prospects; thus they keep...

Autism is currently estimated to affect approximately one in every 166 children, yet the cause or causes of the condition are not well understood. One of the current theories concerning the condition is that among a set of children vulnerable to developing the condition because of their...

Newspaper critics' movie reviews are often used by potential movie viewers as signals of expert quality assessment. We investigate the existence and revenue impact of racial bias in these reviews. Using an expansive, novel dataset spanning 2003-2007, we find ratings for movies with a black lead...

I examine how the labor market in which firms operate affects their capital structure decisions. Based on US Census Bureau data and information on companies' decisions to locate their new operations, I use a large plant opening as an abrupt increase in the size of a local labor market. I find...

Odd-lots are trades for less than 100 shares of stock. These trades are missing from the TAQ data because they are not reported to the consolidated tape. We investigate the systematic bias that arises from the exclusion of odd lots from TAQ data. In our sample, the median number of missing...