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Face Value: Information and Signaling in an Illegal Market
Logan, Trevon D.; Shah, Manisha - National Bureau of Economic Research (NBER) - 2009
Economists argue that rich information environments and formal enforcement of contracts are necessary to prevent market failures when information asymmetries exist. We test for the necessity of formal enforcement to overcome the problems of asymmetric information by estimating the value of...
Persistent link: https://www.econbiz.de/10005079161
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Search Profiling with Partial Knowledge of Deterrence
Manski, Charles - National Bureau of Economic Research (NBER) - 2005
Economists studying public policy have generally assumed that the relevant social planner knows how policy affects population behavior. Planners typically do not possess all of this knowledge, so there is reason to consider policy formation with partial knowledge of policy impacts. Here I...
Persistent link: https://www.econbiz.de/10005085423
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Individual Perceptions of the Criminal Justice System
Lochner, Lance - National Bureau of Economic Research (NBER) - 2003
is little support, therefore, for the `broken windows' theory of Wilson and Kelling (1982). Yet, perceptions do respond … deterrence theory and the fact that their perceived probability of arrest increases. …
Persistent link: https://www.econbiz.de/10005055403
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Did Robert Bork Understate the Competitive Impact of Mergers? Evidence from Consummated Mergers
Ashenfelter, Orley; Hosken, Daniel; Weinberg, Matthew C. - National Bureau of Economic Research (NBER) - 2014
In The Antitrust Paradox, Robert Bork viewed most mergers as either competitively neutral or efficiency enhancing. In his view, only mergers creating a dominant firm or monopoly were likely to harm consumers. Bork was especially skeptical of oligopoly concerns resulting from mergers. In this...
Persistent link: https://www.econbiz.de/10010950952
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Estimation of Random Coefficient Demand Models: Challenges, Difficulties and Warnings
Knittel, Christopher R.; Metaxoglou, Konstantinos - National Bureau of Economic Research (NBER) - 2008
Empirical exercises in economics frequently involve estimation of highly nonlinear models. The criterion function may not be globally concave or convex and exhibit many local extrema. Choosing among these local extrema is non-trivial for a variety of reasons. In this paper, we analyze the...
Persistent link: https://www.econbiz.de/10005248843
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Cementing Relationships: Vertical Integration, Foreclosure, Productivity, and Prices
Syverson, Chad; Hortacsu, Ali - National Bureau of Economic Research (NBER) - 2007
integrated. These patterns are consistent, however, with an alternative efficiency-based mechanism. Namely, higher productivity … evidence that integrated producers' productivity advantage is tied to improved logistics coordination afforded by large local … local concrete operations have similarly high productivity levels. …
Persistent link: https://www.econbiz.de/10005084700
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Incompatibility, Product Attributes and Consumer Welfare: Evidence from ATMs
Knittel, Christopher R.; Stango, Victor - National Bureau of Economic Research (NBER) - 2004
Incompatibility in market with network effects reduces consumers' ability to "mix and match" components offered by different sellers, but can also spur changes in product attributes that might benefit consumers. In this paper, we estimate the effects of incompatibility on consumers in a classic...
Persistent link: https://www.econbiz.de/10005084851
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Theory and Empirical Work on Imperfectly Competitive Markets
Pakes, Ariel - National Bureau of Economic Research (NBER) - 2008
research programs in economic theory for some time. We consider ways in which applied work can cope with these problems and, in … so doing, also inform theory. The use of estimators based on moment inequalities opens up several possibilities in this …
Persistent link: https://www.econbiz.de/10005720218
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Strategic Incompatibility in ATM Markets
Knittel, Christopher R.; Stango, Victor - National Bureau of Economic Research (NBER) - 2006
We test whether firms use incompatibility strategically, using data from ATM markets. High ATM fees degrade the value of competitors' deposit accounts, and can in principle serve as a mechanism for siphoning depositors away from competitors or for creating deposit account differentiation. Our...
Persistent link: https://www.econbiz.de/10005828868
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Barriers To Entry
Carlton, Dennis W. - National Bureau of Economic Research (NBER) - 2005
This paper analyzes the concept of barriers to entry. It explains that the concept is a static one and explores the inadequacy of the concept in a world with sunk costs, adjustment costs and uncertainty. The static concept addresses the question of whether profits are excessive. The more...
Persistent link: https://www.econbiz.de/10005828986