This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the allocation of resources by encouraging rapid experimentation and efficient ex post transfer of knowledge across firms. Each firm receives a private signal on the success...

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the allocation of resources by encouraging rapid experimentation and efficient ex post transfer of knowledge across firms. Each firm receives a private signal on the success...

This paper studies a simple model of experimentation and innovation. Our analysis suggests that patents may improve the allocation of resources by encouraging rapid experimentation and efficient ex post transfer of knowledge across firms. Each firm receives a private signal on the success...

This paper assesses the empirical content of one of the most prevalent assumptions in the economics of networks literature, namely the assumption that decision makers have full knowledge about the networks they interact on. Using network data from 75 villages, we ask 4,554 individuals to assess...

Although fake online customer reviews have become prevalent on platforms such as Amazon, Google, and Facebook, little is known about how these reviews influence consumer behavior. This paper provides the first experimental estimates of the effects of fake reviews on individual demand and...

Coal heating in residential homes is an important source of indoor air pollution, leading to detrimental health effects. We conduct a randomized field experiment in northern China using three types of SMS campaigns targeting three potential biases that may hinder the adoption of electric...

We compare the behavior and welfare effects of two popular interventions for resource conservation. The first intervention is social comparison reports (SC), which primarily provide consumers with information motivating behavioral change. The second intervention is real-time feedback (RTF),...