An extensive literature in economics and finance has documented “home bias,” the tendency that transactions are more likely to occur between parties in the same geographical area, rather than outside. Using data from a large online crowdfunding marketplace and employing a quasi-experimental...

E-commerce platforms match online buyers and sellers using their search technologies. Although a more precise search algorithm may improve search targetability, it may also reduce cross-selling opportunities, as consumers spend less time exploring different products. We empirically quantify...

Online Peer-to-Peer lending (P2P lending) has emerged as an appealing new channel of financing in recent years. A fundamental but largely unanswered question in this nascent industry is the choice of market mechanisms, i.e., how the supply and demand of funds are matched, and the terms (price)...