Search
Now showing items 1-14 of 14
Brand Familiarity and Product Knowledge in Customization
(Department of Economics, 2009)
This paper challenges the assumption commonly used in the theoretical literature
on customization that consumers always get their ideal varieties when they purchase a customized product. The author adopts Hotelling's ...
Information Variability Impacts in Auctions
(Department of Economics, 2009)
A wide variety of auction models exhibit close relationships between the winner's expected profit and the expected difference between the highest and second-highest order statistics of bidders' information, and between ...
Customization: Ideal Varieties, Product Uniqueness and Price Competition
(Department of Economics, 2009)
We study customization in the Hotelling model with two firms. In addition to providing ideal varieties, the perceived uniqueness of a customized product contributes independently to consumer utility. We show that only when ...
Testing the Bounds: Empirical Behavior of Target Zone Fundamentals
(Department of Economics, 2009)
Standard target zone exchange rate models are based on nonlinear functions of an unobserved economic fundamental, which is assumed to be bounded, similarly to the target zone exchange rates themselves. A violation of this key assumption is a basic...
Auctioning the Right to Choose When Competition Persists
(Department of Economics, 2009)
Several papers compare auctioning heterogeneous assets sequentially with sequentially selling the right to choose among assets not yet taken. Typically motivated by auctions of condos for owner occupation, these papers have assumed that each winning...
Winner's Curse Corrections Magnify Adverse Selection
(Department of Economics, 2009)
The adverse-selection literature has only considered the case in which competing sellers' costs of supply are independent and privately known by the individual sellers. In contrast, the auction literature has ignored adverse ...
How Do States Formulate Medicaid and SCHIP Policy? Economic and Political Determinants of State Eligibility Levels
(Department of Economics, 2009)
We exploit the existence of substantial variation in state policies toward public health insurance for children between 1990 and 2002 to estimate the economic and political determinants of state eligibility levels. Controlling for state and year...
Customization with Vertically Differentiated Products
(Department of Economics, 2009)
We study an asymmetric duopoly market in which the firms' products are initially differentiated in both variety and quality. Each consumer has a most preferred variety and a quality valuation. Customization provides ideal ...
Selection of Multivariate Stochastic Volatility Models via Bayesian Stochastic Search
(Department of Economics, 2009)
We propose a Bayesian stochastic search approach to selecting restrictions on multivariate regression models where the errors exhibit deterministic or stochastic conditional volatilities. We develop a Markov Chain Monte ...
Access Price and Vertical Control Policies for a Vertically Integrated Upstream Monopolist when Sabotage is Costly
(Department of Economics, 2009)
Input price and novel vertical control regulations are derived for a vertically integrated upstream monopolist when the monopolist can engage in non-price discrimination against a downstream rival. The paper extends the literature on sabotage...
Cointegrating Regressions with Messy Regressors: Missingness, Mixed Frequency, and Measurement Error
(Department of Economics, 2009)
We consider a cointegrating regression in which the integrated regressors are messy in the sense that they contain data that may be mismeasured, missing, observed at mixed frequencies, or have other irregularities that ...
New Estimates of Public Employment and Training Program Net Impacts: A Nonexperimental Evaluation of the Workforce Investment Act Program
(Department of Economics, 2009)
This paper presents nonexperimental net impact estimates for the Adult and Dislocated Worker programs under the Workforce Investment Act (WIA), the primary federal job training program in the U.S. The key measure of interest is the difference...
Recent Changes In The Characteristics Of Unemployed Workers
(Department of Economics, 2009)
We examine how gender, racial, and ethnic variation in unemployment and Unemployment Insurance (UI) receipt changed over time in the U.S. economy and how these changes are influenced by shifts in the occupational and ...
Population Movements in the Presence of Agglomeration and Congestion Effects: Local Policy and the Social Optimum
(Department of Economics, 2009)
We investigate the efficiency properties of population mobility when localities compete in an environment with local amenities and local externalities. Our model is dynamic, incorporating land and labor markets in a context ...