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We offer an econometric framework that models a consumer's brand choice decision as a two-stage process: consideration set formation followed by brand selection from the brands in the consideration set. The proposed structural model of consideration set is motivated by the fact that consumers...
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We study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Our empirical strategy exploits Airbnb’s introduction of the algorithm and its voluntary adoption by hosts as a quasi-natural experiment. Among those who adopted the...
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We study the impact of Zillow’s Zestimate on housing market outcomes and how the impact differs across socio-economic segments. Zestimate is produced by a Machine Learning algorithm using large amounts of data and aims to predict a home’s market value at any time. Zestimate can potentially...
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