We formally model direct to consumer advertising (DTCA) of prescription drugs and examine factors that determine a pharmaceutical firm's DTCA strategy. We highlight how the profitability of DTCA varies with the characteristics of the condition that the advertised drug treats, the incidence of...

We combine survey data on British and German immigrants in the US with data on natives in Britain and Germany to estimate the causal effect of migration on educational mobility through cross-national marriage. To control for selective mating, we instrument educational attainment using government...

Cigarettes are experience goods - most of their utility value only gets revealed when one consumes them. We hypothesize a three phase consumer life cycle for experience goods. Consumers initially do not know their utility from the good or their preferences for particular characteristics, and may...

The extant literature on cultural transmission takes competing cultures in society as given and parental cultural preferences as fixed. We relax these assumptions by endogenizing both societal and parental preferences. We use smoking as a case-study of a cultural trait which did not always...

We exploit migration patterns from the UK to Australia, South Africa, and the US to investigate whether a person's decision to smoke is determined by culture. For each country, we use retrospective data to describe individual smoking trajectories over the life-course. For the UK, we use these...

We formally model direct to consumer advertising (DTCA) of prescription drugs and examine factors that determine a pharmaceutical firm's DTCA strategy. We highlight how the profitability of DTCA varies with the characteristics of the condition that the advertised drug treats, the incidence of...

Cigarettes are experience goods - most of their utility value only gets revealed when one consumes them. We hypothesize a three phase consumer life cycle for experience goods. Consumers initially do not know their utility from the good or their preferences for particular characteristics, and may...

This paper investigates and compares the relationship between obesity and earnings in the U.S. and Germany. Using data from the Panel Study of Income Dynamics (U.S.) and the German Socio-Economic Panel, instrumental variables models are estimated that account for the endogeneity of body weight....