This paper develops a model of Bayesian learning from online reviews, and investigates the conditions for asymptotic … learning of the quality of a product and the speed of learning under different rating systems. A rating system provides … to leave a review as a function of her overall satisfaction. We study learning dynamics under two classes of rating …

learning in guiding selective attention and market dynamics. We confirm that attention focuses on options that quickly achieve …

We estimate a Bayesian learning model in order to assess the value of health plan performance information and the …

. The theory demonstrates how to use the observed price dynamics to adjust prices for unobserved quality differences across …

This paper studies the effect of nonlinear pricing on markups and misallocation. We develop a general equilibrium model … of firms that are allowed to set a quantity-dependent pricing schedule--contrary to the typical assumption in … macroeconomic models. Without the restriction to linear pricing, markup heterogeneity is no longer a sign of misallocation. Larger …

In this paper we present and solve a three-stage game of entry, location, and pricing in a spatial price discrimination …

We illuminate the relationship between optimal firm pricing and optimal trade policy by exploring a generalized model …, because firms play an important preemptive role in optimally pricing unique varieties. We contrast this with standard …