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Voting as a Rational Choice: Why and How People Vote to Improve the Well-Being of Others

Edlin, Aaron; Gelman, Andrew; Kaplan, Noah - National Bureau of Economic Research (NBER) - 2007

For voters with "social" preferences, the expected utility of voting is approximately independent of the size of the electorate, suggesting that rational voter turnouts can be substantial even in large elections. Less important elections are predicted to have lower turnout, but a feedback...

Persistent link: https://www.econbiz.de/10005248873

Anatomy of the Rise and Fall of a Price-Fixing Conspiracy: Auctions at Sotheby's and Christie's

Ashenfelter, Orley; Graddy, Kathryn - National Bureau of Economic Research (NBER) - 2004

The Sotheby's/Christie's price-fixing scandal that ended in the public trial of Alfred Taubman provides a unique window on a number of key economic and antitrust policy issues related to the use of the auction system. The trial provided detailed evidence as to how the price fixing worked, and...

Persistent link: https://www.econbiz.de/10005034355

Profit Neutrality in Licensing: The Boundary between Antitrust Law and Patent Law

Scotchmer, Suzanne; Maurer, Stephen M. - National Bureau of Economic Research (NBER) - 2004

For over a century, courts and commentators have struggled to find principles that reconcile patent and antitrust law, especially as to patent licensing. We interpret case law and commentary to arrive at three unifying principles for acceptable terms of license. Profit neutrality' holds that...

Persistent link: https://www.econbiz.de/10005108422

The Overlooked Corporate Finance Problems of a Microsoft Breakup

Bebchuk, Lucian; Walker, David I. - National Bureau of Economic Research (NBER) - 2001

This paper identifies problems with the ordered breakup of Microsoft that seem to have been completely overlooked by the government, the judge, and the commentators. The breakup order prohibits Bill Gates and other large Microsoft shareholders from owning shares in both of the companies that...

Persistent link: https://www.econbiz.de/10005714610

Do Newspapers Matter? Short-run and Long-run Evidence from the Closure of The Cincinnati Post

Schulhofer-Wohl, Sam; Garrido, Miguel - National Bureau of Economic Research (NBER) - 2009

The Cincinnati Post published its last edition on New Year's Eve 2007, leaving the Cincinnati Enquirer as the only daily newspaper in the market. The next year, fewer candidates ran for municipal office in the Kentucky suburbs most reliant on the Post, incumbents became more likely to win...

Persistent link: https://www.econbiz.de/10005718512

Do Patent Pools Encourage Innovation? Evidence from the 19th-Century Sewing Machine Industry

Moser, Petra; Lampe, Ryan L. - National Bureau of Economic Research (NBER) - 2009

Members of a patent pool agree to use a set of patents as if they were jointly owned by all members and license them as … a package to other firms. Regulators favor pools as a means to encourage innovation: Pools are expected to reduce … the effects of a patent pool on innovation. Contrary to theoretical predictions, the sewing machine pool appears to have …

Persistent link: https://www.econbiz.de/10005025643

Why Does the Law of One Price Fail? An Experiment on Index Mutual Funds

Laibson, David; Madrian, Brigitte C.; Choi, James J. - National Bureau of Economic Research (NBER) - 2006

Experimental subjects allocate $10,000 across four S&P 500 index funds. Subject rewards depend on the chosen portfolio's subsequent return. Because the investments are not actually intermediated by the fund companies, portfolio returns are unbundled from non-portfolio services. The optimal...

Persistent link: https://www.econbiz.de/10005828564

Valuation of New Goods under Perfect and Imperfect Competition

Hausman, Jerry A. - National Bureau of Economic Research (NBER) - 1994

The Consumer Price Index (CPI) attempts to answer the question of how much more (or less) income does a consumer require to be as well off in period 1 as in period 0 given changes in prices, changes in the quality of goods, and the introduction of new goods (or the disappearance of existing...

Persistent link: https://www.econbiz.de/10005830069

Intertemporal Price Discrimination in Storable Goods Markets

Nevo, Aviv; Hendel, Igal - National Bureau of Economic Research (NBER) - 2011

We study intertemporal price discrimination when consumers can store for future consumption needs. To make the problem tractable we offer a simple model of demand dynamics, which we estimate using market level data. Optimal pricing involves temporary price reductions that enable sellers to...

Persistent link: https://www.econbiz.de/10009002586

Leveraging Monopoly Power by Degrading Interoperability: Theory and Evidence from Computer Markets

Kuhn, Kai-Uwe; van Reenen, John; Genakos, Christos - National Bureau of Economic Research (NBER) - 2011

When will a monopolist have incentives to foreclose a complementary market by degrading compatibility/interoperability of his products with those of rivals? We develop a framework where leveraging extracts more rents from the monopoly market by "restoring" second degree price discrimination. In...

Persistent link: https://www.econbiz.de/10009147972