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The demand for variety : a household production perspective
Hamermesh, Daniel S. (contributor);  … - 2007
Economists have devoted substantial attention to firms’ supply of variety, but little to consumers' demand for variety. Employing the framework of home production, we trace differences in demand to differences in the opportunity costs of activities, which are associated with investments in...
Persistent link: https://www.econbiz.de/10003590812
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An evaluation of the employment effects of barriers to outsourcing
Bandyopadhyay, Subhayu; Marjit, Sugata; Yang, Lei - 2011
Barriers to outsourcing that are being currently implemented in the US effectively tax its companies who "export" jobs through outsourcing. The objective is to raise domestic employment. Given that many of the important international markets where the US has a comparative advantage feature...
Persistent link: https://www.econbiz.de/10009124754
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Secular satiation
Saint-Paul, Gilles - 2017
Satiation of need is generally ignored by growth theory. I study a model where consumers may be satiated in any given …
Persistent link: https://www.econbiz.de/10011704209
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Fake news
Grunewald, Andreas; Kräkel, Matthias - 2017
In the last decade, social media and the Internet have amplified the possibility to spread false information, a.k.a. fake news, which has become a serious threat to the credibility of politicians, organizations, and other decision makers. This paper proposes a framework for investigating the...
Persistent link: https://www.econbiz.de/10011775941
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Relational contracts and the economic well-being of nations
Kukharskyy, Bohdan; Pflüger, Michael - 2010
, Gibbons and Murphy (2002). -- aggregate welfare ; theory of the firm ; relational contracting ; firm heterogeneity …
Persistent link: https://www.econbiz.de/10009314275
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The (alleged) environmental and social benefits of dynamic pricing
Harding, Matthew C.; Kettler, Kyle; Lamarche, Carlos; … - 2021
This paper provides a cautionary tale about claiming environmental costs and benefits when justifying the use of public funds. Using the example of a dynamic pricing policy, we show that the resulting impact on short-term operating costs and emissions is at best ambiguous. Moreover, it is hard...
Persistent link: https://www.econbiz.de/10012698236
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Quality and price setting of high-tech goods
Gorodnichenko, Yuriy; Talavera, Oleksandr; Nam Hoai Vu - 2021
This paper investigates the link between product quality and price setting for central processing units (CPUs). Using thousands of price quotes from a popular price-comparison website, we find that market fundamentals, such as the number of sellers, median price, share of convenient prices and...
Persistent link: https://www.econbiz.de/10012419306
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Firm dynamics with frictional product and labor markets
Kaas, Leo; Kimasa, Bihemo - 2018
This paper analyzes the joint dynamics of prices, output and employment across firms. We develop a dynamic equilibrium model of heterogeneous firms who compete for workers and customers in frictional labor and product markets. Idiosyncratic productivity and demand shocks have distinct...
Persistent link: https://www.econbiz.de/10011896893
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Competing with asking prices
Lester, Benjamin; Visschers, Ludo; Wolthoff, Ronald - 2013
In many markets, sellers advertise their good with an asking price. This is a price at which the seller is willing to take his good off the market and trade immediately, though it is understood that a buyer can submit an offer below the asking price and that this offer may be accepted if the...
Persistent link: https://www.econbiz.de/10009696885
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A theory of price adjustment under loss aversion
Ahrens, Steffen; Pirschel, Inske; Snower, Dennis J. - 2014
We present a new partial equilibrium theory of price adjustment, based on consumer loss aversion. In line with prospect … theory, the consumers' perceived utility losses from price increases are weighted more heavily than the perceived utility … an otherwise standard dynamic neoclassical model of monopolistic competition. The resulting theory of price adjustment is …
Persistent link: https://www.econbiz.de/10010350414