Abstract We study the welfare implications of personalized pricing, an extreme form of third-degree price discrimination implemented with machine learning for a large, digital firm. We conduct a randomized controlled pricing field experiment to train a demand model and to conduct inferences...

We compare the private and social incentives for privacy when sellers can commit to transparent privacy policies that are understood by consumers. The purpose is to establish a baseline for how well markets perform when firms' privacy policies are common knowledge. In this setting, if the market...

Using data on the number of visitors (identified according to the census block that they reside in) at the store level, this paper investigates the welfare costs of traditional shopping for the U.S. census blocks. The investigation is based on an economic model, where individuals living in...

I take a new approach to measuring world inequality and welfare over time by constructing robust bounds for these series instead of imposing parametric assumptions to compute point estimates. I derive sharp bounds on the Atkinson inequality index that are valid for any underlying distribution of...

“Consumer welfare” (“CW”) is the stated goal of antitrust law. Among the cognoscenti, the CW standard is a proxy for the transformation of antitrust law over the past four decades and Robert Bork's deep imprint on antitrust law. In recent years, calls to abandon the CW standard and...