Journal ArticleHandbook of Industrial Organization · January 1, 2021
This chapter is organized around three main topics on dynamic games in empirical IO: models, econometrics, and empirical applications. Section 2 presents the theoretical framework, introduces the concept of Markov Perfect Nash Equilibrium, discusses existe ...
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Journal ArticleAmerican Economic Review · April 1, 2019
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We propose an approach to measuring the misallocation of production in a market that compares actual industry cost curves to undistorted (counterfactual) supply curves. As compared to traditional, TFPR- based, misallocation measures, this approach leverage ...
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Scholarly Edition · February 1, 2019
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A “Nash equilibrium in Nash bargains” has become a workhorse bargaining model in applied analyses of bilateral oligopoly. This paper proposes a noncooperative foundation for “Nash-in-Nash” bargaining that extends Rubinstein’s alternating offers model to mu ...
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Scholarly Edition · August 16, 2016
Production functions are a central component in a variety of economic analyses. However, these production functions often first need to be estimated using data on individual production units. There is reason to believe that, more than any other input in th ...
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Journal ArticleAmerican Economic Review · March 2016
We estimate the effects of electricity shortages on Indian
manufacturers, instrumenting with supply shifts from hydroelectric
power availability. We estimate that India's average reported level of
shortages reduces the average plant's revenues and producer ...
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Journal ArticleAmerican Economic Review · January 1, 2015
We measure the impact of a drastic new technology for producing steel the minimillon industry-wide productivity in the US steel industry, using unique plant-level data between 1963 and 2002. The sharp increase in the industry's productivity is linked to th ...
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Journal ArticleJournal of Political Economy · October 1, 2014
We investigate the role of dynamic production inputs and their associated adjustment costs in shaping the dispersion of static measures of capital misallocation within industries (and countries). Across nine data sets spanning 40 countries, we find that in ...
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Journal ArticleAmerican Economic Journal: Applied Economics · January 1, 2014
This paper uses a new dataset on child-adoption matching to estimate the preferences of potential adoptive parents over US-born and unborn children relinquished for adoption. We identify significant preferences favoring girls and against African American c ...
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Journal ArticleAmerican Economic Journal: Microeconomics · January 1, 2014
Horizontal mergers have a large impact by inducing a long-lasting change in market structure. Only in an industry with substantial entry barriers is a merger not immediately counteracted by postmerger entry. To evaluate the duration of the effects of a mer ...
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Journal ArticleEconometrica · May 1, 2013
I investigate the role of demand shocks in the ready-mix concrete industry. Using Census data on more than 15,000 plants, I estimate a model of investment and entry in oligopolistic markets. These estimates are used to simulate the effect of eliminating sh ...
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Journal ArticleJournal of Economics and Management Strategy · December 1, 2009
In this paper, we study mergers in two-sided industries and, in particular, the effects of mergers in the newspaper industry. We present a model which shows that mergers in two-sided markets may not necessarily lead to higher prices for either side of the ...
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