Although complex pricing schedules are increasingly common in utility billing, it is difficult to determine whether consumers respond to complicated marginal prices because price changes are often confounded with simultaneous demand shocks or non-price policies. To overcome this challenge, we...

We examine how consumers and financial markets in the United States react to two health warnings about mad cow disease: the first discovery of an infected cow in December 2003 and an Oprah Winfrey show on the potentially harmful effects that aired seven years earlier. Using a unique...

The effect of expert opinion on demand for experience goods is difficult to quantify, as the relationship between purchases and reviews may be driven by product quality. Further, it is unclear whether a review-based demand effect is due to providing quality or existence information. Utilizing a...