Conventional wisdom argues that all commercial and economic competition between two daily newspapers stops when they merge their advertising and printing capabilities to form a joint operating agreement (JOA). Clearly the JOA acts a monopolist in the sale of advertising, but there are two forces...

In this paper we offer the Gibbs sampler as an alternative to the GMM estimator developed by Berry, Levinsohn, and Pakes (1995) in their equilibrium differentiated product market analysis of the automobile industry. We use the GMM objective as the basis for forming a posterior distribution,...

In this paper a new class of importance distributions that are based on normal and t-distributions are introduced. They are labeled variable integrating constant distributions or VIC distributions. The main innovation in this class of distributions is that the variance associated with each...

Analyzing a panel data set tracking format changes and ownership consolidation in local radio markets, we find that format changes frequently have enabled stations to improve their performance. The success of reformatting varies widely across format, and the likelihood that changing to another...

Does editorial competition boost newspaper circulation? If metropolitan daily newspapers constitute relevant product and geographic markets, then competition should foster improved quality and offer readers products that are differentiated in some dimensions and thus should result in higher...

This paper provides a solution to the problem of estimating a joint distribution using the associated marginal distributions and a related joint distribution. The particular application we have in mind is for estimating joint distributions of demographic characteristics corresponding to market...

Debt collection is an important part of the consumer credit ecosystem, but has received little attention in the economics literature. Regulations on collection practices can protect consumers, but may also lead to unintended consequences if the costs of better practices are passed on to...

We approach the problem of estimating the long run response to the promotion of a storable good by incorporating dynamic elements into a static demand and supply model for use with store level data. The base demand model is a mixed logit that allows consumers to have heterogeneous preferences...