We examine the effects of the regulation of dual agency in residential real estate transactions, for 10,888 transactions in Long Island, New York in 2004-2007. We find that dual agency has an overall null effect on sale price, but includes two opposing forces where buyer and seller interests...

This paper exploits a unique natural experiment - Cornell University's 1996 decision to publish course median grades online - to examine the effect of grade information on course selection and grade inflation. We model students' course selection as dependent on their tastes, abilities, and...

In this paper, using aggregate data, we demonstrate the ability of the generalized nested logit (Wen and Koppelman, 2000; GNL henceforth) to better capture consumer choice under conditions where consumer tradeoffs among choice items is not ex-ante obvious to the researcher, and data on attributes of...

Newspaper critics' movie reviews are often used by potential movie viewers as signals of expert quality assessment. We investigate the existence and revenue impact of racial bias in these reviews. Using an expansive, novel dataset spanning 2003-2007, we find ratings for movies with a black lead...

Concerns over grade inflation and the profusion of high grades have led institutions of higher education in the United States to adopt various grading reforms. An element common to several prominent reforms is providing information on the distribution of grades in different courses. The main...

We study how summer internship application choices of MBA students at a major university are influenced by the application choices made by their fellow students. We develop a simultaneous model of each individual's choice as a function of other students' choices. Our model of interdependence in...

Demand for products is often modeled as a function of product attributes. We propose that demand for experiential or hedonic products be modeled also as a function of “emotional product attributes” or emotions that a product might elicit from consumers. Our category of interest is the U.S....