We develop a two-sided model for a farmers' market where farmers value the number of consumers, and consumers value the number of farmers and the average product quality in the market. Consumer preference over product quality provides an incentive for the farmers' market to exclude farmers of...

Advertising can rotate the demand curve if it changes the dispersion of consumers' valuations. We provide an elasticity form measure of the advertising-induced demand curve rotation in five demand models and test for its presence in the US non-alcoholic beverage market. The Almost Ideal Demand...

Financial markets exhibit an asymmetric news effect with unexpected low prices generating more price volatility than quot;newsquot; of high prices. The present study examines US food markets for such asymmetric news effects. Analysis of 25 years of monthly data for 45 retail food items shows...

Using a supply-demand framework, a six-equation model is specified to generate hypotheses about the relationship between state aid and student performance. Theory predicts that an increase in state or federal aid provides an incentive to decrease local funding, but that the disincentive...

Manufacturers have been increasingly relying on environmental management systems (such as ISO 14001 based ones) to comply with government regulations and reduce waste. In this paper, we investigated the impact of ISO 14001 certification on manufacturers' toxic release by release level. We...

Third party certification bodies audit companies to determine compliance with standards. We introduce a model of oligopoly competition between certification bodies, showing that a higher degree of certification body competition results in higher grades. We empirically test this hypothesis using...

This study distinguishes nonadvertising marketing activities from generic advertising and investigates their separate impacts on the retail demand for fluid milk in New York State. Advertising, having an estimated elasticity (of demand) of 0.038 using panel data, is found to be about five times...

We examine equilibrium responses of a Cournot oligopoly to two typical types of nonparallel demand increases. Results based on a linear demand curve show that in terms of profits, increases in demand that result in a more elastic demand curve are beneficial to every firm, with large firms...

We used Nielsen store-level scanner data on cigarette prices from convenience stores over the period 2011-2012 to measure the incidence of cigarette excise taxes. We found that cigarette taxes were more than fully passed through to retail prices on average, suggesting consumers pay excess burden...

We estimated the demand for submissions for the market for core economics journals using unique panel data on submissions for 2008 and 2013. We found that in determining which journals to submit a manuscript to, authors care about submission fee, journal quality as measured by rank and impact...