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Product differentiation is well established as being the key source of the cereal industry's high price-cost margins. However, there is little consensus as to whether pricing collusion is also a source of profitability, and indeed, whether price even serves as a strategic variable in this...
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This paper asks whether the gap in subjective happiness between spouses matters per se, i.e. whether it predicts divorce. We use three panel databases to explore this question. Controlling for the level of life satisfaction of spouses, we find that a higher satisfaction gap, even in the first...
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-through rates for low-income households are 58%, significantly larger than those for high-income households. We then present one …
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We survey samples of German firms and households to document novel stylized facts about the extent of information … dispersed than households', consistent with higher information frictions among households. Second, the degree of dispersion and … the distance from expert forecasts varies more across groups of households than across groups of firms. Third, firms …
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