We extend five principles of tax incidence under perfect competition to a general model of
imperfect competition. The principles cover (1) the independence of physical and economic …

Empirical evidence suggests that most advertisements contain little direct information. Many
do not mention prices. We analyze a monopoly firm's choice of advertising content and the …

There is widespread evidence that some firms use false advertising to overstate the value of
their products. We consider a model in which a policy maker can punish such false claims …

While short-term rentals such as Airbnb have experienced very rapid growth in recent years,
many local governments have been introducing intensive limits, restricting its operations. For …

Investigating potential purchases is often a substantial investment under uncertainty.
Standard market designs, such as simultaneous or English auctions, compound this with …

Economists routinely make functional form assumptions about consumer demand to obtain
welfare estimates. How sensitive are welfare estimates to these assumptions? We answer …

Several authors have studied the impact of a marginal cost variation in the Cournot model
on consumers' surplus, firms' profits and social welfare. We unify and extend the results …

Preventives are sold ex ante, before disease status is realized, while treatments are sold ex
post. Even if the mean of the ex ante distribution of consumer values is the same as that ex …

The Herfindahl‐Hirschman Index and the Distribution of Social Surplus* - Spiegel - 2021 - The
Journal of Industrial Economics - Wiley Online Library Skip to Article Content Skip to Article …

This article studies mergers in markets where firms invest in a portfolio of research projects
of different profitability and social value. The investment of a firm in one project imposes both …