The recent rapid growth of the Internet as a medium of communication and commerce, combined with the development of sophisticated software tools, are to a large extent responsible for producing a new kind of information: databases with detailed records about consumers' preferences. These...

Recent developments in information technology (IT) have resulted in the collection of a vast amount of customer-specific data. As IT advances, the quality of such information improves. We analyze a unifying spatial price discrimination model that encompasses the two most studied paradigms of...

We consider a market where each firm is created by the combination of two complementary assets that are heterogeneous in their productivity. After assets match endogenously, their owners choose between two ownership structures: integration and non-integration. Our main focus is on the interplay...

Using a theoretical model that assumes heterogeneity in lenders' screening ability and in borrowers' investment horizon, we show that fintech loans to entrepreneurs are more likely to be unsecured and short-term while bank loans are expected to be asset-backed and long-term. The findings suggest...

This paper analyzes how bank regulation that promotes greater access to credit impacts the financing of targeted small firms. It develops a model where banks compete with trade creditors to fund small firms and applies it to study the effects of the Community Reinvestment Act (CRA). The...

Online retailers can adopt generous return policies to entice customers to buy and try new products. In this paper we show how an online retailer can utilize product returns to segment customers based on their individual valuations of a product, and therefore to engage in profitable third-degree...

We examine the incentives and implications of supplier encroachment, when final good produc-tion requires the use of multiple complementary inputs and the entry of a supplier into the final good market gives rise to mutual outsourcing of inputs between the encroaching supplier and the incumbent....

Does the recent proliferation of technology in lending process have an impact on business loan market competition? Using a theoretical model that assumes heterogeneity in lenders’ screening ability and borrowers’ investment horizon, we show that FinTech (Traditional) lenders primarily supply...