A vast theoretical literature shows that inefficient market structures may arise in free entry equilibria. Previous empirical work demonstrated that excessive entry may obtain in local radio markets. Our paper extends that literature by relaxing the assumption that stations are symmetric,...

Do larger markets offer better products? The question has implications both for theories of cities and for theories of market organization. We document that in the restaurant industry, where quality is produced largely with variable costs, the range of qualities on offer increases in market...

We ask whether international firms compete by designing products attractive to customers because they are objectionable to others. We investigate “discriminatory product differentiation” among international airlines through depictions of Israel on online route maps and availability of kosher...

We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent developments in recorded music as our context. Digitization has expanded consumption opportunities by giving consumers access to the "long tail" of existing products, rather than simply...

Streaming music services have exploded in popularity in the past few years, variously raising optimism and concern about their impacts on recorded music revenue. On the one hand, streaming services allow sellers to engage in bundling with the promise of increasing revenues, pro_ts, and consumer...

Digitization has vastly increased the amount of new music produced and, because of streaming, has raised the number of songs available directly to consumers. While enhanced availability has levelled the playing eld between already-prominent and new artists, creators may now be highly dependent...

Using data on 4.1 million apps at the Google Play Store from 2016 to 2019, we document that GDPR induced the exit of about a third of available apps; and in the quarters following implementation, entry of new apps fell by half. We estimate a structural model of demand and entry in the app...

We explore the consequence of quality unpredictability for the welfare benefit of new products, using recent developments in recorded music as our context. Digitization has expanded consumption opportunities by giving consumers access to the "long tail" of existing products, rather than simply...

Streaming music services have exploded in popularity in the past few years, variously raising optimism and concern about their impacts on recorded music revenue. On the one hand, streaming services allow sellers to engage in bundling with the promise of increasing revenues, profits, and consumer...

Digitization has vastly increased the amount of new music produced and, because of streaming, has raised the number of songs available directly to consumers. While enhanced availability has levelled the playing field between already-prominent and new artists, creators may now be highly dependent...