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Rosen, Sherwin; Murphy, Kevin M.; Scheinkman, José - 2022

U.S. beef cattle stocks are among the most periodic time-series in economics. A theory of cattle cycles is constructed … the demographic structure of the herd to respond cyclically to exogenous shocks in demand for beef and in production costs … evolution of cattle stock and beef consumption. These compare very closely to structural econometric time-series estimates over …

Persistent link: https://www.econbiz.de/10013308616

Public or Private Production of Food Safety : What Do U.S. Consumers Want?

Smith, V. Kerry - 2010

This paper reports estimates of consumers' preferences for plans to improve food safety. The plans are distinguished based on whether they address the ex ante risk of food borne illness or the ex post effects of the illness. They are also distinguished based on whether they focus on a public...

Persistent link: https://www.econbiz.de/10012758450

Measuring Consumer Valuation of Limited Provider Networks

Ericson, Keith M. Marzilli - 2015

We measure provider coverage networks for plans on the Massachusetts health insurance exchange using a two measures: consumer surplus from a hospital demand system and the fraction of population hospital admissions that would be covered by the network. The two measures are highly correlated, and...

Persistent link: https://www.econbiz.de/10013031017

Does Market Experience Eliminate Market Anomalies? The Case of Exogenous Market Experience

List, John A. - 2011

A vibrant literature has emerged that suggests willingness to pay and willingness to accept measures of value are quite different for inexperienced consumers but that value differences erode with market experience. One potential shortcoming of this literature is that market experience is...

Persistent link: https://www.econbiz.de/10013127977

Dynamic Equilibrium Economies : A Framework for Comparing Models and Data

Diebold, Francis X.; Ohanian, Lee E.; Berkowitz, Jeremy - 2021

Many recent theoretical papers have come under attack for modeling prices as Geometric Brownian Motion. This process can diverge over time, implying that firms facing this price process can earn infinite profits. We explore the significance of this attack and contrast investment under Geometric...

Persistent link: https://www.econbiz.de/10013310260

Poisoned Grapes, Mad Cow, and Protectionism

Engel, Eduardo M. R. A. - 2021

British beef exports did not constitute a protectionist measure, while the US ban on Chilean fruit possibly classifies as such …

Persistent link: https://www.econbiz.de/10013220395

Consumer Misinformation and the Brand Premium : A Private Label Blind Taste Test

Bronnenberg, Bart J. - 2018

We run in-store blind taste tests with a retailer's private label food brands and the leading national brand counterparts in three large CPG categories. In a survey administered during the taste test, subjects self-report very high expectations about the quality of the private labels relative to...

Persistent link: https://www.econbiz.de/10012908477

Pricing When Customers Care About Fairness But Misinfer Markups

Eyster, Erik; Madarasz, Kristof; Michaillat, Pascal - 2023

This paper proposes a theory of price rigidity consistent with survey evidence that firms stabilize prices out of fairness to their consumers. The theory relies on two psychological assumptions. First, customers care about the fairness of prices: fixing the price of a good, consumers enjoy it...

Persistent link: https://www.econbiz.de/10014347525

Policy vs. Consumer Pressure : Innovation and Diffusion of Alternative Bleaching Technologies in the Pulp Industry

Popp, David - 2012

In the late 1980s and early 1990s, concern over dioxin in both paper products and wastewater led to the development of techniques that reduced the use of chlorine in the pulp industry. Both regulatory and consumer pressure motivated this change. We use patent data to examine the evolution of two...

Persistent link: https://www.econbiz.de/10012755323

International Portfolio Allocation Under Model Uncertainty

Benigno, Pierpaolo - 2010

This paper proposes an explanation of the international home bias in equity based on ambiguity aversion. Doubts imply an additional hedging motif driven by the interaction between real exchange rate risk and ambiguity aversion. What matters is the long-run as opposed to the short-run risk....

Persistent link: https://www.econbiz.de/10012757854

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