This paper develops a mathematical model of innovation in technology with two main characteristics. First, it discusses the endogenously made decision on not only how much to innovate, but also, how much to imitate. Second, it demonstrates that the decision to innovate or imitate are not...

"Network adequacy regulations" expand patients' access to hospitals by mandating a lower bound on the number of hospitals that health insurers must include in their networks. Such regulations, however, compromise insurers' bargaining position with hospitals, which may increase hospital...

In vertical markets, eliminating double marginalization with a two-part tariff may not be possible due to downstream firms' risk aversion. When demand is uncertain, contracts with large fixed fees expose the downstream rm to more risk than contracts that are more reliant on variable fees. In...

Double marginalization is a common inefficiency in vertical markets. One theory of the source of double marginalization – even when two-part tariff contracts are available – is downstream risk aversion. When demand is uncertain, two-part tariffs with large fixed components can expose the...

Reclassification risk is a major concern in health insurance where contracts are typically one year in length but health shocks often persist for much longer. While most health systems with private insurers emphasize short-run contracts paired with substantial pricing regulations to reduce...

How can we control for latent discrimination in predictive models? How can we provably remove it? Such questions are at the heart of algorithmic fairness and its impacts on society. In this paper, we define a new operational fairness criteria, inspired by the well-understood notion of omitted...

This paper develops a model of vertical markets with multiple upstream and downstream firms. Networks of vertical relationships, negotiated contract terms for those relationships, and downstream prices charged to end customers all arise endogenously. In addition, I provide an estimation...