I study the effect of secret and public reserve prices on the seller’s revenue. In particular, I analyze the data from eBay auctions on tractors to estimate the extent of this effect. The analysis helps to explain the following empirical facts from Ebay auctions: multiple relisting of similar...

I study a hybrid bargaining model with an English auction in each state. The seller uses auctions to extract information about the bidders’ values of the object on sale. The bargaining element is introduced to maximize revenue, since the winning bidder has to exceed not only the second-highest...

Direct regulation of school lunch content seems an intuitive approach for improving the nutrition of many American children. However, little is known about substitution patterns in response to such efforts, particular the likelihood that children and parents will turn to competitive foods...

Policymakers and school district officials hope to reduce childhood obesity by improving the nutrition of school lunches. The Healthy, Hungry-Free Kids Act of 2010 requires that the calorie content of lunches served as part of the National School Lunch Program (NSLP) must fall within ranges that...

Labels address a market failure—asymmetric information—through costly expenditures borne by consumers, firms, and taxpayers. In this review, we explore when mandatory and voluntary labeling policies may be socially optimal. Although the analysis ostensibly revolves around simple comparisons...