Despite the historic prevalence of industrial policy and its current popularity, few empirical
studies directly evaluate its welfare consequences. This paper examines an important …

In this paper we study the role of industrial policy in shaping the evolution of a global
industry. We assess the long-term performance of different policy instruments, which include …

We propose a method to estimate static discrete games with weak assumptions on the
information available to players. We do not fully specify the information structure of the game …

Purpose This study aims to examine how business executives' political connections are
associated with government subsidies and strategic change, and how they, in turn, influence …

Consumer cooperatives are firms owned by their customers. Although their organizational
form should commit these firms not to exploit their market power, in practice, weak …

We provide novel evidence on the effect of the threat of potential competition on the timing of
entry in a new and growing industry. Exploiting a change in regulation in the Italian retail fuel …

A key primitive of a strategic environment is the information available to players. Specifying a
priori an information structure is often difficult for empirical researchers. We develop a test of …

We analyze a hub-and-spoke cartel in the Brazilian automotive fuel industry. Using the court
documents and detailed data on the supply chain we uncover three mechanisms beyond …

In certain settings, goods can be consumed outside of formal markets (eg: theft, counterfeit,
or illegal sharing of subscriptions). When the share of informality is large, firms' pricing …

Abstract Chapter 1: A hub-and-spoke cartel, where firms (spokes) limit competition with the
help of an upstream supplier (hub), is a type of collusive arrangement observed in a variety …