Das Coronavirus hat viele alte Gesetzmäßigkeiten in Frage gestellt. Das gilt auch für die Vermessung ökonomischer Aktivitäten. Verfahren aus der Hochzeit der Industrialisierung werden dem strukturellen Wandel zunächst zu einer Dienstleistungsgesellschaft, später zu einer Digitalwirtschaft...

We examine used car dealers' roles as intermediaries. We present empirical evidence supporting that cars sold by dealers have higher quality: (1) dealer transaction prices are higher than private market prices and this dealer premium increases in the age of the car as a ratio and is hump-shaped...

If producers have more information than consumers about goods' attributes, then they may use non-price (rather than price) adjustment mechanisms and, consequently, the market may reach a new equilibrium even if prices don't change. We study a situation where producers adjust the quantity per...

Do the choices of consumers who search for a product's best price exhibit risk neutral, risk averse or loss averse risk attitudes? We study how in a problem of sequential search with costless recall the relation between a consumer's willingness to pay for continued search and the level of price...

A monopolist uses prices as an instrument to influence consumers' belief about the unknown quality of its product. Consumers observe prices and sales in earlier periods to learn about the product. Every period they decide whether to consume the product or to wait for a lower price in future. We...

We designed an experiment that examines how knowledge about the price of a good, and the time at which the information is received, affects how the good is experienced. The good in question was wine, and the price was either high or low. Our results suggest that hosts offering wine to guests can...

We study how a consumer optimally allocates attention to favorable and unfavorable information related to a product before purchasing it, when information processing is costly. We find that attention allocation depends on the consumer's prior belief about whether the product matches her needs or...