This paper examines the determinants of cross-platform arbitrage profits. We develop a structural model that enables us to decompose the likelihood of an arbitrage opportunity into three distinct factors: the fixed cost to trade the opportunity, the level at which one of the platforms delays a...

Many important economic questions arising in auctions can be answered only with knowledge of the underlying primitive distributions governing bidder demand and information. An active literature has developed aiming to estimate these primitives by exploiting restrictions from economic theory as...

Recreation is one of the ecosystem’s secondary values of a well conserved natural ecosystem, associated with the direct use individuals make of these natural assets. In this paper we define and estimate the total economic recreation value to visitors of a particular natural area, a national...

This paper investigates price-setting for truly homogenous products sold in markets without any formal trade barriers. We use data from IKEA, a furniture company selling identical products in an identical shopping environment in different EU countries. We get four remarkable outcomes: 1) The law...

This paper presents and investigates a new data set of individual residential property transactions in England. The main novelty of the data is the record of all listing price changes and all offers made on a property, as well as all the visits by potential buyers for a subset of the properties....

Our results show that high-income families place significantly higher value on academic achievement than low-income families. High-income families are also more likely to penalize house price for non-desirable non-academic school quality. This paper uses quantile regression to examine the...

This paper studies housing markets with price posting, directed search, and heterogeneity. One contribution is theoretical: in a novel model, we provide sharp results on existence, uniqueness and comparative statics. Another is empirical: we explore a new dataset from Vancouver. Then we confront...

This study examines whether the effect of market structure on financial stability is persistent, subject to current regulation and supervision policies. Extreme Bounds Analysis (EBA) is employed over a sample of 2450 banks operating within the EU-27 during the period 2003-2010. The results show...

In the present paper an attempt will be made to show that in the banking sector wage rigidity increases as consumer inflation decreases. The immediate consequence is that banks cannot offer more competitive prices without shrinking profits. Hence, countries with strict labour laws hinder baking...

In a world of decreasing tariffs, non-tariff barriers (NTBs) have gained in importance and are receiving growing attention in trade negotiations. Comprising a myriad of different policies, NTBs are not straightforward to quantify. An intuitive and meaningful equivalence measure is the price...