Firms sometimes comply with externality-correcting policies by gaming the measure that determines policy. This harms buyers eroding information, but it benefits them when cost savings are passed through into prices. We develop a model highlights this tension and use to analyze of automobile carbon emission ratings in EU. document startling increases using novel data. then effects calibrated sim...

Using a structural model of demand for automobile engine variants, this paper finds that there is second-degree price discrimination: markups increase with engine size. Still, average markups are lower than when models have just one engine. The paper develops the first empirical demand framework suitable for markets with variants. There is an unobserved product characteristic and a consumer-spe...

This paper proposes a new approach to explain the long-term evolution of a supplier industry. The network of vertical relations between suppliers and buyers is identified as a determinant of the concentration of the supplier industry and of the dynamics of market shares. The vertical structure of the industry is captured by collecting information on all vertical relations between dyads of firms...

We run a large field experiment with an online company specializing in selling used automobiles via ascending auctions. We manipulate experimentally the “price grid,” or the possible amounts that bidders can bid above the current standing price. Using two diverse auction sites, one in New York and one in Texas, we find that buyer and seller behavior differs strikingly across the two sites. Spec...

This review presents some examples obtained by molecular techniques in the study of non-ionic reverse micelles of poly(ethylene oxide) type surfactants: tetraethylene glycol mono-ndodecyl ether (C12E4), Triton X-100, and triblok copolymers poly(ethylene oxide)-blockpoly(propylene oxide)-blockpoly(ethylene oxide) (L62 and L64 Pluronics). By using specific spectral parameters of spin, fluorescenc...

Electric vehicles have a unique potential to transform personal transportation. We analyze this transition with dynamic model capturing falling costs of electric vehicles, decreasing pollution from electricity, and increasing vehicle substitutability. Our calibration the US market shows gasoline is not optimal at current substitutability: production ban would large deadweight loss. At higher su...

We investigate the effects of consumers’ environmental concerns and market competition on firms’ decisions to innovate in “clean” technologies. Agents care about their consumption footprint; firms pursue greener products soften price competition. Acting as complements, these forces determine R&D, pollution, welfare. test theory using panel data patents by 7,060 automobile sector 25 countrie...

Product recall data and information on stock price reactions to recalls are used estimate the value of reputation in a model which product quality is not contractible. A result defect that signals low effort. The triggers reduction firm’s value, then both rise steadily until its next occurs. We accounts for 8.3 percent firm welfare 26 first best level. policy intervention attains tax accompanie...

A central question in the analysis of fuel economy policy is whether consumers are myopic with regards to future costs. We provide first evidence on consumer valuation from a natural experiment that provides exogenous variation ratings. examine short-run equilibrium effects restatement ratings affected 1.6 million vehicles. Using implied changes willingness pay, we find act myopically: indiffer...

The serotonergic (5-HT) neuronal system has important and diverse physiological functions throughout development and adulthood. Its dysregulation during development or later in adulthood has been implicated in many neuropsychiatric disorders. Transgenic animal models designed to study the contribution of serotonergic susceptibility genes to a pathological phenotype should ideally allow to study...