We formulate the problem of designing a personalized recommendation system for an online business-to-business (B2B) marketplace, propose a method to solve it, and evaluate results using field experiments. In this problem, buyers place requests for quotation (RFQs) to the platform, sellers...

Digital platforms, such as Alibaba and Amazon, operate an online marketplace to facilitate transactions. This paper studies a platform’s business model choice between accepting cash and issuing tokens, as well as the implications for welfare, resiliency, and interoperability. A cash platform...

Prior to the invention of the Internet, shopping for goods was relatively simple: a consumer visited a brick-and-mortal retailer and selected a product from what was available or, for some retailers, shopped using a catalog. Today, a simple Internet search may return a bewildering number of...

We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously searched objects to unsearched objects that are nearby in attribute space, generating path dependence in search sequences. The estimated model rationalizes patterns in data on...