type="main" xml:lang="en" <p>By restricting bidders to be qualified dealers, wholesale automobile auctions exclude the bidders who place the highest value on the vehicles: consumers. This article provides an explanation for this puzzling entry restriction by modeling the inventory-management...</p>

I analyze the market for compact discs using an original data set of items listed for sale online. Over 5000 listings of both new and used compact discs were collected from eBay (which provides sellers a choice between two mechanisms: auction or posted price) and its subsidiary, Half.com (which...

In an original data set of goods listed for sale online, I observe that both auctions and posted prices are popular with buyers and sellers in the compact-disc market. To explain why these two mechanisms coexist, I estimate a structural model of competing sellers who differ in the value of their...

We focus on the relationship between a player's effort provision and tournament heterogeneity in a setting where players only know the distribution of their opponents' abilities. By isolating whether increases in heterogeneity influence optimal effort provision in cardinal, ordinal, and piece...

To measure how consumers respond to negative information about the financial health of a durable-goods producer, I use the prices at which vehicles sell in secondary markets to quantify consumer perception of the Chrysler Corporation during the period surrounding the Chrysler Loan Guarantee Act...