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Common Ownership and Market Entry: Evidence from the Pharmaceutical Industry

By Melissa Newham, Jo Seldeslachts, and Albert µþ²¹²Ô²¹±ô-·¡²õ³Ù²¹Ã±´Ç±ô

òòò½Íø Journal: Microeconomics, November 2025

Common ownership—where several firms are (partially) owned by the same investors—and its impact on product market competition has recently drawn much attention. This paper focuses on its implications for market entry. We consider the entry decisions o...

Holding Platforms Liable

By Xinyu Hua and Kathryn E. Spier

òòò½Íø Journal: Microeconomics, November 2025

Should platforms be liable for harms suffered by users? A platform enables interactions between firms and users. Harmful firms impose larger costs on users than safe firms. If firms have deep pockets and are fully liable for harms, platform liability is u...

Market Segmentation and Product Steering

By Stefan Terstiege and Adrien Vigier

òòò½Íø Journal: Microeconomics, November 2025

A monopolistic seller possesses an inventory containing distinct products, each consumer wishes to buy a single product, and the seller can steer consumers' choices. We fully characterize the producer-consumer surplus pairs induced by market segmentation ...

Underestimating Learning by Doing

By Samantha Horn and George Loewenstein

òòò½Íø Journal: Microeconomics, November 2025

Many economic decisions, such as whether to invest in developing new skills, change professions, or purchase a technology, benefit from accurate estimation of skill acquisition. We examine the accuracy of such predictions by having study participants pred...

(Pro-)Social Learning and Strategic Disclosure

By Roland µþé²Ô²¹²ú´Ç³Ü and Nikhil Vellodi

òòò½Íø Journal: Microeconomics, November 2025

We study a sequential experimentation model with endogenous feedback. Agents choose between a safe and risky action, the latter generating stochastic rewards. When making this choice, each agent is selfishly motivated (myopic). However, agents can disclos...

On the Alignment of Consumer Surplus and Total Surplus under Competitive Price Discrimination

By Dirk Bergemann, Benjamin Brooks, and Stephen Morris

òòò½Íø Journal: Microeconomics, November 2025

We study the role of information in Bertrand competition with differentiated goods and heterogeneous production costs. When producers know their costs and consumers know their values, consumer surplus and total surplus are aligned, in the sense that the i...