Problem definition: We examine whether priority queues benefit consumers relative to first-in first-out service. Academic/practical relevance: Priorities are a commonly recommend way to reduce waiting costs, but it is not clear whether they help customers. Methodology: We build an analytical...

In the context of a vertically differentiated duopoly model with endogenous quality choice, we analyzes the welfare effect of overlapping ownership when the market is fully covered. The results show that overlapping ownership, while detrimental for consumer surplus, may increase or decrease...

We study how experts influence consumer behavior and welfare by focusing on the Booker Prize. Leveraging the discontinuity created by the attribution of the prize, we show that readers receive the signal sent by the jury of the Booker and are persuaded to buy the awarded book but experience...