We analyze data pricing and targeted advertising. Advertisers seek to tailor their spending to the value of each consumer. A monopolistic data provider sells cookies -- informative signals about individual consumers' preferences. We characterize the set of consumers targeted by the advertisers...

We propose a model of data provision and data pricing. A single data provider controls a large database that contains information about the match value between individual consumers and individual firms (advertisers). Advertisers seek to tailor their spending to the individual match value. The...

We develop a model of data pricing and targeted advertising. A monopolistic data provider determines the price to access "cookies," i.e., informative signals about individual consumers' preferences. The demand for information is generated by advertisers who seek to tailor their spending to the...

Models with imperfect information that generate persistent monetary nonneutrality predominantly rely on assumptions leading to substantial heterogeneity of information across price-setters. This paper develops a quantitative general equilibrium model in which the degree of heterogeneity of...

The effect of a widening of the distribution of income upon society's choice of the amount of redistribution is a balancing of two opposing forces: the increase in redistribution in response to the increased ratio of mean to median income and the decrease in response to the greater advertising...

I develop a theoretical framework for studying viral communications through a principal agent set-up. The principal derives wealth from a signal in a society while agents in the society talk to each other. A society is likely to create a viral bubble if there is a short loop of positive...

We incorporate product demonstrations into a game theoretic model of firm price competition. Demonstrations may include product samples, trials, return policies, reviews, or any other means by which a firm allows consumers to learn about their value for a new product. In our model,...

We challenge the prevailing view that pure informational lobbying (in the absence of political contributions and evidence distortion or withholding) leads to better informed policymaking. In the absence of lobbying, the policymaker may prioritize the more-important or ex ante morepromising...

We conduct experiments with human subjects in a model with a positive production externality in which productivity is a non-decreasing function of the average level of employment of other firms. The model has three steady states: the low and high steady states are expectationally stable...

I examine an environment where advertisers can "seed" word-of-mouth advertising by providing initial information about a product to specific users of a social network. Discussion over a social network generates spillover effects for firms when consumers can use the social network to inform each...