We examine the equilibrium interaction between a market for price information (controlled by
a gatekeeper) and the homogenous product market it serves. The gatekeeper charges fees …

We provide a unified treatment of alternative models of information acquisition/transmission
that have been advanced to rationalize price dispersion in online and offl ine markets for …

We examine the link between price, quality, seller claims, and seller reputation in Internet
auctions. After purchasing actual baseball cards and having them professionally graded, we …

Prices rise like rockets but fall like feathers. This stylized fact of many markets is confirmed
by many empirical studies. In this article, I develop a model with competitive firms and …

In many retail markets, prices rise faster than they fall. We develop a model of search with
learning to explain this phenomenon of asymmetric price adjustments. By extending our …

It is widely presumed that inflation causes or is at least associated with price dispersion, and
indeed the literature provides both empirical and theoretical support for this view. Whether …

We exploit a unique dataset from a price comparison site to estimate the determinants of
clicks received by online retailers. We find that a firm enjoys a 60% jump in its clicks when it …

The well-known double marginalization problem understates the inefficiencies arising from
vertical relations in consumer search markets where consumers are uninformed about the …

We examine how entrepreneurs can search deliberately for discoveries. We use
consideration sets to impose constraints on how and where they search. A consideration set …

Every new method of trade offers an opportunity for economic agents to compare its costs
and benefits relative to the status quo. Such comparison motivates sorting across market …