Net Neutrality, Pricing Instruments and Incentives -- by Joshua S. Gans,...
We correct and extend the results of Gans (2015) regarding the effects of net neutrality regulation on equilibrium outcomes in settings where a content provider sells its services to consumers for a...
View ArticleTransparency and Negotiated Prices: The Value of Information in...
We empirically examine the role of information in business-to-business bargaining between hospitals and suppliers of medical technologies. Using a new data set including all purchase orders issued by...
View ArticleA Theory of Bidding Dynamics and Deadlines in Online Retail -- by Dominic...
We present an equilibrium search model that parsimoniously rationalizes the use of auctions as a sales mechanism for new-in-box goods--a frequent occurrence in online retail markets--and analyze...
View ArticleSubsidies and Structure: The Lasting Impact of the Hill-Burton Program on the...
The hospital industry is one of the most important industries in the U.S., and industry structure can have profound effects on the functioning of markets. Using county-level panel data, we study the...
View ArticleHow Did Pre-Fed Banking Panics End? -- by Gary Gorton, Ellis W. Tallman
How did pre-Fed banking crises end? How did depositors' beliefs change? During the National Banking Era, 1863-1914, banks responded to the severe panics by suspending convertibility, that is, they...
View ArticleDynamic R&D Choice and the Impact of the Firm's Financial Strength -- by...
This article investigates how a firm's financial strength affects its dynamic decision to invest in R&D. We estimate a dynamic model of R&D choice using data for German firms in high-tech...
View ArticleBank Quality, Judicial Efficiency and Borrower Runs: Loan Repayment Delays in...
Exposure to liquidity risk makes banks vulnerable to runs from both depositors and from wholesale, short-term investors. This paper shows empirically that banks are also vulnerable to run-like behavior...
View ArticleDoes Fundraising Create New Giving? -- by Jonathan Meer
Despite an extensive literature on the impacts of a variety of charitable fundraising techniques, little is known about whether these activities increase overall giving or merely cause donors to...
View ArticleSelf-insuring against Liability Risk: Evidence from Physician Home Values in...
When faced with financial uncertainty, rational agents have incentives to take steps ex ante to reduce the probability (self-protection) or size (self-insurance) of a loss. However, in the case of...
View ArticleHow Does Access to Health Care Affect Teen Fertility and High School Dropout...
Children from low-income families face persistent barriers to accessing high-quality health care services. Previous research studies have examined the importance of expanding children's health...
View ArticleOwning, Using and Renting: Some Simple Economics of the "Sharing...
New Internet-based markets enable consumer/owners to rent out their durable goods when not using them. Such markets are modeled to determine ownership, rental rates, quantities, and surplus generated....
View ArticleHow Crashes Develop: Intradaily Volatility and Crash Evolution -- by David S....
This paper explores whether affine models with volatility jumps estimated on intradaily S&P 500 futures data over 1983-2008 can capture major daily outliers such as the 1987 stock market crash. I...
View ArticleFairs for e-commerce: the benefits of aggregating buyers and sellers....
In recent years, many new and interesting models of successful online business have been developed. Many of these are based on the competition between users, such as online auctions, where the product...
View ArticleImproved Fr\'echet--Hoeffding bounds on $d$-copulas and applications in...
We derive upper and lower bounds on the expectation of $f(\mathbf{S})$ under dependence uncertainty, i.e. when the marginal distributions of the random vector $\mathbf{S}=(S_1,\dots,S_d)$ are known but...
View ArticleA Rank-Based Approach to Zipf's Law. (arXiv:1602.08533v1 [q-fin.EC])
An Atlas model is a rank-based system of continuous semimartingales for which the steady-state values of the processes follow a power law, or Pareto distribution. For a power law, the log-log plot of...
View ArticleSEC Statement On Juryâs Verdict In Trial of Daryl Payton And Benjamin...
After a two week trial, a jury in the Southern District of New York found both Daryl Payton and Benjamin Durant liable for insider trading in SEC v. Payton et al.read more...
View ArticleNasdaq Selected To Support ASX In Post-Trade Technology Overhaul - ASX To...
Nasdaq (Nasdaq:NDAQ) and Australian Securities Exchange (ASX) have announced that Nasdaq will replace ASX’s existing equities and equity options clearing technology platforms – a significant element of...
View ArticleDalian Commodity Exchange Expands Pilot For âInsurance &...
The 2016 No. 1 Document of CPC Central Committee clearly sets out a number of requirements, including developing agricultural futures products, conducting pilot for agricultural options, and steadily...
View ArticleTokyo Commodity Exchange: Final Settlement Price Of Dubai Crude Oil For...
Final settlement price of Dubai Crude Oil for February 2016 contract is 21,210 yen.read more...
View ArticleJapan's Financial Services Agency: Financial Policies Monitor
Based on the Strategic Directions and Priorities 2015–2016, announced in September 2015, the FSA has established the Financial Policies Monitor (System) to receive candid opinions and suggestions...
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