The experiment explained in this paper helps students to understand the importance of network externalities in the evolution of industries and technology. Complex enough to permit exploration of the role of strategic pricing in network industries, the method is still flexible enough to allow...

Payday lending, pawn lending, and other alternative financial services experienced rapid growth in the two decades up until the most recent financial crisis. Immediately before and since that time, these businesses have confronted increasing regulatory pressure both at the state and federal...

This paper discusses the clear and important role of social, institutional, and psychological factors in the behavior of low-income households, and the paper makes direct arguments in favor of policy interventions to alleviate some the challenges of these households in that context. Qualitative...

This paper presents a simple model of peer selection in a static, single-period model setting. Given the connections between consumption and how one perceives the consumption of peers, this project takes a further step backward in terms of understanding the process of consumer self-segregation...

Abstract This experiment helps students to understand the importance of network externalities in technology adoption and the evolution of industries. Students observe the roles of lock-in and critical mass in technology adoption, understand how pricing affects adoption, and see welfare...