We consider a dynamic model in which a principal decides what information to release about a product of unknown quality (e.g., a vaccine) to incentivize agents to experiment with the product. Assuming that the agents are long-lived and forward-looking, their incentive to wait and see other...

In the digital age, privacy in economic activities is increasingly threatened. In considering policies to address this threat, it is useful to consider what value, if any, that people attach to privacy in economic activities. We study this question by eliciting individuals' willingness to pay...

We consider a dynamic model in which a principal decides what information to release about a product of unknown quality (e.g., a vaccine) to incentivize agents to experiment with the product. Assuming that the agents are long-lived and forward-looking, their incentive to wait and see other...

This paper considers competitive search equilibrium in a market for a good whose quality differs across sellers. Each seller knows the quality of the good that he or she is offering for sale, but buyers cannot observe quality directly. We thus have a "market for lemons" with competitive search...

Our paper conducts laboratory experiments with the sequential search model to test whether participants engage in search activities in line with theoretical predictions derived from the expected utility model or the reference-dependent model, without assuming any specific formulation rule for a...

We show that exposure to anti-capitalist ideology can exert a lasting influence on attitudes towards capital markets and stock-market participation. Utilizing novel survey, bank, and broker data, we document that, decades after Germany's reunification, East Germans invest significantly less in...

The study provides empirical evidence that a targeted policy can backfire because information signals affect non-targeted units. Specifically, the analysis of the policy aimed at regulating the harvesting of juvenile fish in Peru's Anchovy Fishery, by temporarily closing areas with high juvenile...

PurposeThe aim of this paper is to study the impact of the questions and answers (Q&A) between investors and enterprises from the China stock exchange investor interactive platforms on the total factor productivity (TFP) of enterprises.Design/methodology/approachTo show how the interaction...

This paper leverages a novel survey among German senior government officials to investigate fiscal responses to monetary policy shocks. Using randomized vignette treatments, we present officials with scenarios of increased government interest costs and analyze their expected fiscal adjustments....

The study provides empirical evidence that a targeted policy can backfire because information signals affect non-targeted units. Specifically, the analysis of the policy aimed at regulating the harvesting of juvenile fish in Peru's Anchovy Fishery, by temporarily closing areas with high juvenile...