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Incorporating Search and Sales Information in Demand Estimation

Hortaçsu, Ali; Natan, Olivia R.; Parsley, Hayden; … - National Bureau of Economic Research - 2021

We propose an approach to modeling and estimating discrete choice demand that allows for a large number of zero sale observations, rich unobserved heterogeneity, and endogenous prices. We do so by modeling small market sizes through Poisson arrivals. Each of these arriving consumers then solves...

Persistent link: https://www.econbiz.de/10012794558

How the Internet Changed the Market for Print Media

Bhuller, Manudeep; Havnes, Tarjei; McCauley, Jeremy; … - National Bureau of Economic Research - 2023

inputs, and product characteristics with plausibly exogenous variation in the availability and adoption of broadband internet …, this paper provides causal evidence on how the internet affected the traditional print media market. Household adoption of … broadband internet triggered large reductions in print readership and circulation and equally large increases in online news …

Persistent link: https://www.econbiz.de/10014226136

Greater Than the Sum of Its Parts : Aggregate vs. Aggregated Inflation Expectations

Dietrich, Alexander M.; Knotek, Edward S.; Myrseth, … - National Bureau of Economic Research - 2023

This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on nearly 60,000 respondents, our data comprise the early...

Persistent link: https://www.econbiz.de/10014436953

Information and the Welfare Benefits from Differentiated Products

Reimers, Imke; Riedl, Christoph; Waldfogel, Joel - National Bureau of Economic Research - 2025

Differentiated product consumption choices made without full information can lead to welfare losses from regret and missed opportunities, but a lack of post-purchase usage data has prevented their exploration. Using novel data on individual ownership and post-purchase usage of video games, we...

Persistent link: https://www.econbiz.de/10015195047

The First Sale Doctrine and the Digital Challenge to Public Libraries

Reimers, Imke C.; Waldfogel, Joel - National Bureau of Economic Research - 2022

Libraries have traditionally provided free communal access to books, facilitated by the first sale doctrine's (FSD) guarantee that libraries may purchase physical books at consumer prices. Increasingly restrictive ebook access terms may imperil libraries, and we compare the welfare cost of...

Persistent link: https://www.econbiz.de/10013362046

The Welfare Effect of Gender-Inclusive Intellectual Property Creation : Evidence from Books

Waldfogel, Joel - National Bureau of Economic Research - 2023

Women have traditionally participated in intellectual property creation at depressed rates relative to men. Book authorship is now an exception. In 1970, women published a third as many books as men. By 2020, women produced the majority of books. Adding new products can have significant welfare...

Persistent link: https://www.econbiz.de/10014226184

Information and Market Power in DeFi Intermediation

Azar, Pablo D.; Casillas, Adrian; Farboodi, Maryam - National Bureau of Economic Research - 2024

This paper considers the "DeFi intermediation chain"--the market structure that underlies the creation and distribution of ETH, the native cryptocurrency of Ethereum--to examine how information asymmetry shapes intermediation rents. We argue that using proof-of-stake blockchain technology in...

Persistent link: https://www.econbiz.de/10015072890

Content Moderation with Opaque Policies

Kominers, Scott Duke; Shapiro, Jesse M. - National Bureau of Economic Research - 2024

A sender sends a signal about a state to a receiver who takes an action that determines a payoff. A moderator can block some or all of the sender's signal before it reaches the receiver. When the moderator's policy is transparent to the receiver, the moderator can improve the payoff by blocking...

Persistent link: https://www.econbiz.de/10014486247

Selling Subscriptions

Einav, Liran; Klopack, Benjamin; Mahoney, Neale - National Bureau of Economic Research - 2023

Retailers are increasingly selling goods and services via subscriptions instead of spot markets. In this paper, we study one benefit to the retailer of selling subscriptions: the possibility that - presumably because of inattention or inertia - consumers continue to pay for subscriptions after...

Persistent link: https://www.econbiz.de/10014337781

Platform Power Struggle : Spotify and the Major Record Labels

Aguiar, Luis; Waldfogel, Joel; Zeijen, Axel - National Bureau of Economic Research - 2024

Digitization has facilitated the emergence of large distribution platforms downstream from traditionally powerful suppliers. Digital platforms can carry many suppliers' products, test the products' consumer appeal, and choose which products to promote, potentially shifting power from the...

Persistent link: https://www.econbiz.de/10015094890