We develop models of markets with procrastinating consumers where competition operates - or is supposed to operate - both through the initial selection of providers and through the possibility of switching providers. As in other work, consumers fail to switch to better options after signing up...

I consider a situation in which workers have present-biased preferences and tend to procrastinate their tasks, but underestimate the degree of self-control prob- lems that they will face in the future. Brocas and Carrillo (2001) show that a form of competition always mitigates delay in a setting...

We show that in multi-sector optimal growth models, where the technology satisfies a simple reachability condition, infinite horizon programs which satisfy the competitive conditions are optimal. We provide examples of a variety of production models where the reachability condition is satisfied....

In an economy where traders absorb information partially, we study the effect of disclosure accuracy and disclosure clarity on financial markets. Accuracy measures how precisely a disclosure identifies the firm's fundamentals, whereas clarity measures how well traders understand the disclosure....

In an economy where traders absorb information partially, we study the effect of disclosure accuracy and disclosure clarity on financial markets. Accuracy measures how precisely a disclosure identifies the firm's fundamentals, whereas clarity measures how well traders understand the disclosure....

We model endogenous technology adoption and competition among liquidity providers with access to High-Frequency Trading (HFT) technology. HFT technology provides speed and informational advantages. Information advantages may restore excessively toxic markets. Speed technology may reduce resource...