Using a behavioral model and empirical analysis, this paper investigates consumers' brand switching during times of economic distress and highlights its disparate impact on low-income consumers. Our modeling framework captures the effects of economic distress on brand switching and...

The debate on firm’s investment decision under uncertainty is still unsettled. This study empirically examines the impact of firm-level political risk on contemporaneous capital and operating investment decisions. Using a novel text-based measure of firm-level political risk for US firms, we...

We examine whether media coverage affects credit rating change decisions by analyzing 732,426 newspaper items published by top U.S. media outlets on S&P 1500 firms. Our results show that negative media coverage has a strong association with credit rating change events, but positive media...

In this paper we investigate the size of markups for nationally branded products sold in the U.S. retail grocery industry. Using scanner data from a large Midwestern supermarket chain, we compute several measures of upper and lower bounds on markup ratios for over 230 nationally branded products...

A key feature of online gaming, which serves as an important measure of consumer engagement with a game, is level progression, wherein players make play-or-quit decisions at each level of the game. Understanding users’ level progression behavior is therefore fundamental to game designers. In...