Information problems in health care and the multifaceted nature of hospital quality complicate hospital choice. Online reviews provide an accessible, salient means through which researchers and health care decision-makers can gather information about a hospital's quality of care, and given their...

The diversion ratio is a key input to many indicators of merger harm. Measuring the diversion ratio, however, is challenging in the presence of state dependence driven by things like consumer switching costs. We propose an identification strategy for diversion based on win/loss data. First, we...

When is resale valuable? And when can it be replaced with refunds? I study the performance of common reallocation mechanisms in perishable goods markets with demand uncertainty. Using primary and secondary market data on college football ticket sales, I design a structural model to evaluate the...

This paper examines the competitive effects of resale price maintenance (RPM) through inventory decisions under demand uncertainty. We focus on the Japanese publishing industry where RPM is allowed. We develop and estimate a model of RPM in which price and inventory are determined before demand...

How does resale affect multiproduct bundling? I investigate using a model of monopoly bundling with costly resale. Consumers purchase in the primary market while anticipating resale, then participate in a resale market with market-clearing prices. Resale forces the monopolist to balance the...

This paper presents a non-technical introduction to three economic tools that have in recent years become widespread in competition law enforcement in general and in the analysis of proposed mergers in particular: critical loss analysis, upward pricing pressure, and the vertical arithmetic. In...

This lecture, delivered at the Higher School of Economics in 2020, opens with a discussion of the modern history of economists' treatment of network industries: from cost-of-service regulation through incentive regulation to vertical restructuring. This history is then applied to the freight...

This paper estimates how beer franchise laws and their interaction with restrictions on vertical integration between manufacturing and wholesaling impacted US craft brewers' entry and production decisions. The effects are identified by exploiting variation in policies across states and time...

We develop a model of vertical mergers with open auctions upstream, This setting may be appropriate for industries where inputs are procured via auction-like "requests for proposal." For example, Drennan et al (2020) reports that a model of this type was used during the CVS-Aetna merger...

The European Commission years ago adopted a policy of encouraging the substitution of motor carrier haulage of freight with rail and water carrier haulage, as part of its "green" agenda of reducing fuel consumption, emission of pollutants, carbon intensity, and road congestion. Regarding railway...