This paper uses an original panel dataset with posted prices and sales to estimate a dynamic demand. We find that consumers become more price sensitive as time to departure nears which is consistent with having lower valuations. This result provides empirical support to a key theoretical...

This paper finds empirical support to systematic peak-load pricing in airlines---higher fares in ex-ante known congested periods. It estimates a congestion premia and supports the main empirical prediction in Gale and Holmes (1993) [Gale, I., Holmes, T., 1993. Advance-purchase discounts and...

Purpose – The purpose of this paper is to model asymmetric information and study the profitability of venture capital (VC) backed initial public offerings (IPOs). Our mixtures approach endogenously separates IPOs into differentiated groups based on their returns’ determinants. We also...