unique equilibrium, which is separating. Higher-quality sellers post higher prices, so price signals quality. The arrival … higher continuation values. For some parameter values, higher-quality sellers post the full-information price; for other … values these sellers have to post a higher price to keep lower-quality sellers from mimicking them. In an extension, we show …

Economic theory suggests that monopoly prices hurt consumers but benefit shareholders. But in a world where individuals …

This paper takes advantage of a natural experiment to examine the relationship between the price and saliency of health …

increases utility. It is assumed that each variety is owned by a monopoly. Workers can specialize in material goods production … increases, the price elasticity of demand falls, and markups increase to infinity as consumption reaches the unit elasticity … bliss point can only be made better-off by an increase in diversity. If wages are set by monopoly unions rather than set …

unemployment rate. In line with theory, we find that firms possess more monopsony power during economic downturns, which shows to …