Due to differences in the effectiveness and side effects of different drugs, uncertainty is an important component of prescription drug choice. This uncertainty can cause patients and doctors to experiment with different drugs until they find a good match. In this paper, we specify and estimate...

The cable television industry is a large, integral part of the information technology industry in the United States. The purpose of this paper is to describe the development of the cable television industry and analyze the institutional and economic determinants of its growth. As will be shown,...

This paper evaluates the economic consequences of quality change and new service introductions in the cable television industry over the period 1989-1995. To address these issues, we develop and estimate a discrete-choice, differentiated product model of the demand for and the pricing of the...

The regulations implemented in accord with the 1992 Cable Act legislated that the per-channel cable prices fall by 10-17% from their September, 1992 levels. Upon implementation, however, while cable prices did show moderate declines, cable expenditures did not - in 1/3 of cable markets, the...

We propose a novel methodology for nonparametric identification of first-price auction models with independent private values, which allows for one-dimensional auctionspecific unobserved heterogeneity, based on recent results from the econometric literature on nonclassical measurement error in...