We study investors' perceptions of inflation through the lens of a high-frequency event study and document that they have a stagflationary view of the world. In response to higher-than-expected inflation, investors expect firms' nominal cash flows to remain stagnant while discount rates...

We study the interaction of customer capital and productivity through brand reallocation across firms. We develop a firm dynamics model with brands as transferable customer capital, heterogeneous firm productivity, and variable markups. We study the matching process between transferable brand...

Price theory says that the most important effects of policy and technological change are often found beyond their first point of contact. This appears opposed to econometric methods that rule out spillovers of one person's treatment on another's outcomes. This paper uses the industry model from...

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...

This paper investigates the price and service rate decisions in a customer-intensive service in an M/M/1 queue system under the influence of social interactions, where a higher value of the service is perceived if more customers purchase the service. The customer-intensive nature of the service...

This article focuses on the optimal international trade policy considered product differentiations. A duopoly model with a home firm in a developing country and a foreign firm in a developed country is established. The findings indicate that, the optimal tariff relies on the product...

This study seeks to establish the relationship between carbon emissions, agricultural output and industrial output in South Africa. It uses data from 1960 to 2017 based on an annual frequency, giving a total of 58 annual observations. The Autoregressive Distributed Lag technique is employed to...

This paper examines whether or not the relative importance of the firm and industry effects in explaining performance variations is the same regardless of the firm size. In relation to size, we think that there has been particular neglect of studying medium-sized firms separately from SMEs in...

In the discussion on the relationship between spot and forward prices in electricity markets, the equilibrium approach has an unambiguous prevalence. It is the relative recency of this market that gives rise to the question of how precisely forward prices converge to the spot prices. We decide...

Crowdfunding has mostly been used to finance very unique projects. Recently, however, companies have begun using it to finance more traditional products where they compete against other sellers of similar products. Major crowdfunding platforms, Kickstarter and Indiegogo, as well as Amazon have...