In this study, we test the relationship between price volatility and contract maturity, or the “Samuelson effect,” using futures contract prices for a major sports event. Applying four different performance measures, we show supportive evidence of the Samuelson effect in futures contracts...

In many markets, firms have the option of advertising at price comparison sites to broaden their market reach. Such sites are often controlled by profit-maximizing “information gatekeepers” charging advertising fees. This paper considers vertical merger between such a monopoly information...

This paper examines the welfare effects of vertical integration by an "information gatekeeper" into the product market it serves. Both the integrated gatekeeper and competing firms in the product market earn higher profits, but social welfare declines.

This paper explores welfare implications of exclusivity arrangements, e.g. iPhone?s part- nership with wireless carriers. Two ?rms compete in a primary good market, while a monop- olistic ?rm o¤ers a value-adding good. The primary good can be consumed alone, while the value-adding good must be...

We collect data on the 2007–2008 Ph.D. economist job market to investigate initial job placement in terms of job location, job type, and job rank. While there is little gender difference in all three dimensions, our results suggest significant source country heterogeneity in placement...

Using daily ticket price quotes, this article examines whether there are systematic differences in the airfares obtained through different online travel Web sites. I find that after controlling for ticket availability and heterogeneities that affect ticket prices, there is little systematic...

This paper examines the welfare effects of vertical integration by an "information gatekeeper" into the product market it serves. Both the integrated gatekeeper and competing firms in the product market earn higher profits, but social welfare declines.