Granular Search, Concentration and Wages

Granular Search, Concentration and Wages By: Gregor Jarosch (Princeton University); Isaac Sorkin (Stanford University); Jan Sebastian Nimczik (Humboldt University Berlin) Abstract: This paper develops an approach to measuring labor market power that builds on the structure of a canonical search…

Antitrust’s Curse of Bigness Problem

Daniel Sokol, University of Florida, has written on Antitrust’s Curse of Bigness Problem. ABSTRACT: Tim Wu’s most recent book, The Curse of Bigness: Antitrust in the Gilded Age, is an attempt to reframe contemporary antitrust debates by returning antitrust to…

Pay for Content or Pay for Marketing? An Empirical Study on Content Pricing By: Xintong Han (Concordia University, Department of Economics, 1455 Boulevard de Maisonneuve O, Montreal, QC H3G 1M8, Canada.); Pu Zhao (Boston University, Questrom School of Business, 595…

On financial frictions and firm market power

On financial frictions and firm market power By: M. Casares; L. Deidda; J. E. Galdon-Sanchez Abstract: We build a static general-equilibrium model with monopolistically competitive firms that borrow funds from competitive banks in an economy subject to financial frictions. These…

Too Much Data: Prices and Inefficiencies in Data Markets

Too Much Data: Prices and Inefficiencies in Data Markets By: Daron Acemoglu; Ali Makhdoumi; Azarakhsh Malekian; Asuman Ozdaglar Abstract: When a user shares her data with an online platform, she typically reveals relevant information about other users. We model a…

Markups and Inequality

Markups and Inequality By: Corina Boar (New York University); Virgiliu Midrigan (New York University) Abstract: We study the relationship between markups, firm concentration and inequality using a model of entrepreneurial dynamics in an environment with incomplete markets and borrowing constraints….

Collusion, price dispersion, and fringe competition

Collusion, price dispersion, and fringe competition By: de Roos, Nicolas; Smirnov, Vladimir Abstract: We study the optimal behaviour of a cartel faced with fringe competition and imperfectly attentive consumers. Intertemporal price dispersion obfuscates consumer price comparison which aids the cartel…

Market power in bilateral oligopoly markets with non-expandable infrastructures

Market power in bilateral oligopoly markets with non-expandable infrastructures By: Yukihiko Funaki (Waseda University); Harold Houba (Vrije Universiteit Amsterdam); Evgenia Motchenkova (Vrije Universiteit Amsterdam) Abstract: We develop a novel model of price-fee competition in bilateral oligopoly markets with non-expandable infrastructures…

Mining the Harvard Caselaw Access Project

Felix Chang, University of Cincinnati College of Law, Erin McCabe, Zhaowei Ren, Joshua Beckelhimer, and James Lee identify Mining the Harvard Caselaw Access Project. ABSTRACT: This Essay illustrates how machine learning can disrupt legal scholarship through the algorithmic extraction and…