I develop a multi-country multi-industry model of trade that features heterogeneous consumers with non-homothetic preferences. I use the model to quantify the measurement errors in the welfare gains estimates caused by the assumption of a representative consumer (ARC). First, I reduce the world level of all trade costs by 15% and find that ARC overestimates (underestimates) the gains of the poo...

This paper revisits the traditional view that a low-price guarantee results in higher prices and facilitates collusion. I acquired accurate data on matching stores and their competitors to address the common criticism of the scant existing empirical literature that their results are highly dependent on getting the market de nitions right. Using station level data in the retail gasoline industry...

As we outline a movement beyond the apparent creative stagnation in the videogames industry we envision possible transformations, beyond the gridlock a producer-consumer dichotomy, that propose to mobilize players as creative actors in a holistic experience. We propose to recognize the authoring roles players develop in their relation to the industry and the gaming community, that configure an ...

It is suggested that instead of attempting to adjust the consumer price index (CPI) after tax reform it is better to measure changes in after-tax income.

On October 6, 1979, the Federal Open Market Committee of the Federal Reserve System embarked on an aggressive policy to lower the inflation rate, which then stood near 12 percent. That effort succeeded: By the mid-1980s, the rate of change in the Consumer Price Index (CPI) was reduced to less than 4 percent on a three-year moving-average basis, as shown in figure 1. The commonly reported measur...

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Consumer Price Index (CPI) of a particular region is primarily calculated through aggregation of individual household observations. This aggregation is done following two schemes, plutocratic and democratic. While both of them are useful for certain purposes, none of them actually give proper attention to poor households. In this study, we have shown that weighting scheme with certain mathemati...

Milk pricing in California is often controversial. Consumer advocates and their organizations periodically charge that retail milk prices are “unfair” or “too high” and call for public intervention in the fluid-milk market. The consumer view is expressed by Consumers Union, which after conducting surveys of retail milk prices in Los Angeles and San Francisco area food stores, charged that large...

Consumer satisfaction with Internet shopping has been conceptualized in a variety of ways. Studies in this area remain broad and appear relatively fragmented. In view of this, the purpose of this study is to propose a research framework that integrates both end-user computing satisfaction literature and service quality literature. This framework explicitly considers information quality, system ...