The rise in national industry concentration in the US between 1977 and 2013 is driven by a new industrial revolution in ….S. firms are increasingly specialized in sectors with rising industry concentration, but their aggregate employment share has …

ownership among incumbent businesses within a district-industry predicts a greater share of subsequent entrepreneurs will be … district-industry's conditions. The core patterns hold when using local industrial conditions in 1994 to instrument for …

years, questions have arisen about whether its services help or harm consumers. In response, states have increasingly … consumers. On balance, our results also seem to support the relevance of theories of occupational licensing that stress the …

informational advantage over consumers in selecting arbitrators, resulting in industry-friendly arbitration outcomes. We then …,000 consumer arbitration cases in the securities industry. Securities disputes present a good laboratory: arbitration is mandatory … decompose the firms' advantage into two components: the advantage of choosing pro-industry arbitrators from a given pool, and …

-functioning marketplace, suggest that prospect theory adequately organizes behavior among inexperienced consumers, whereas consumers with …

data and model make a detailed analysis of industry demand possible …

Consumers solve many agency problems, by pointing out when they believe that agents have made mistakes. This paper … considers the role that consumers play in inducing efficient behavior by agents. I distinguish between two case: those where … consumers have similar preferences to the principal, and those where consumer preferences diverge from those of the principal …