I use the Prescott (1975) hotels model to explain variations in price dispersion across goods sold by supermarkets in Chicago. I extend the theory to accounts for the monopoly power of chains and for non-shoppers. The main empirical finding is that the effect of demand uncertainty on price...

In this paper, we describe how socio-economic background and political leaning are related to how U.S. residents look for information on COVID-19. Using representative survey data from 2,280 U.S. internet users, collected in fall 2020, we examine how factors, such as age, gender, race, income,...

This policy brief reports findings from two nationally representative online surveys that were conducted in the United States (N=2,280) and in the United Kingdom (N=2,000) in October and November 2020 to explore the factors that influence the willingness to be vaccinated against Covid-19. The...

Many researchers have assumed that social media will reduce inequalities between elite politicians and those outside the political mainstream and that it will thus benefit democracy, as it circumvents the traditional media that focus too much on a few elite politicians. I test this assumption by...

Economics has long studied how consumers respond to the disclosure of information about firms. We study a case in which the disclosed information is unrelated to the product or firm leadership, but which could still potentially affect consumer patronage through the mechanism of repugnance, as...

Investors' return expectations are pivotal in stock markets, but the reasoning behind these expectations remains a black box for economists. This paper sheds light on economic agents' mental models - their subjective understanding - of the stock market, drawing on surveys with the US general...

Investors' return expectations are pivotal in stock markets, but the reasoning behind these expectations remains a black box for economists. This paper sheds light on economic agents' mental models - their subjective understanding - of the stock market, drawing on surveys with the US general...

Using the panel component of the Michigan Survey of Consumers, we show that individuals, in particular women and ethnic minorities, are highly heterogeneous in their expectations of inflation. We estimate a model of inflation expectations based on learning from experience that also allows for...

We use novel survey data to estimate how personal experiences affect household expectations about aggregate economic outcomes in housing and labor markets. We exploit variation in locally experienced house prices to show that individuals systematically extrapolate from recent locally experienced...

Using the panel component of the Michigan Survey of Consumers, we show that individuals, in particular women and ethnic minorities, are highly heterogeneous in their expectations of inflation. We estimate a model of inflation expectations based on learning from experience that also allows for...