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Uncertainty and learning in pharmaceutical demand

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GS Crawford, M Shum - Econometrica, 2005 - Wiley Online Library
Exploiting a rich panel data set on anti-ulcer drug prescriptions, we measure the effects of
uncertainty and learning in the demand for pharmaceutical drugs. We estimate a dynamic
matching model of demand under uncertainty in which patients learn from prescription ...
Cited by 169 - Related articles - All 34 versions

Nonparametric tests for common values at first-price sealed-bid auctions

[PDF] from 128.36.236.35
PA Haile, H Hong… - 2003 - nber.org
We develop tests for common values at first-price sealed-bid auctions. Our tests are
nonparametric, require observation only of the bids submitted at each auction, and are
based on the fact that the winner's curse'arises only in common values auctions. The tests ...
Cited by 142 - Related articles - Library Search - BL Direct - All 47 versions

Increasing competition and the winner's curse: Evidence from procurement

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H Hong… - Review of Economic Studies, 2002 - Wiley Online Library
We assess empirically the effects of the winner's curse which, in common–value auctions,
counsels more conservative bidding as the number of competitors increases. First, we
construct an econometric model of an auction in which bidders' preferences have both ...
Cited by 127 - Related articles - BL Direct - All 25 versions

Does advertising overcome brand loyalty? Evidence from the breakfast‐cereals market

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M Shum - Journal of Economics & Management Strategy, 2004 - Wiley Online Library
In differentiated product markets where consumer preferences are characterized by brand
loyalty, an important role for advertising may be to overcome brand loyalty by encouraging
consumers to switch to less familiar brands. Using a scanner panel dataset of breakfast- ...
Cited by 75 - Related articles - All 15 versions

Using price distributions to estimate search costs

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H Hong… - The RAND Journal of Economics, 2006 - Wiley Online Library
We show how the equilibrium restrictions implied by standard search models can be used to
estimate search-cost distributions using price data alone. We consider both sequential and
non-sequential search strategies, and develop estimation methodologies that exploit ...
Cited by 74 - Related articles - BL Direct - All 14 versions

Durable‐goods oligopoly with secondary markets: the case of automobiles

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S Esteban… - The Rand Journal of Economics, 2007 - Wiley Online Library
■ In many durable-goods industries, used products are traded in decentralized secondary
mar- kets that are not directly controlled by the producers of new goods: the automobile industry
is perhaps the most prominent example. In this article, we seek to understand the effects ...
Cited by 64 - Related articles - BL Direct - All 22 versions

Do mergers improve information? Evidence from the loan market

[PDF] from libero.it
F Panetta, F Schivardi… - CEPR Discussion Paper No. …, 2005 - papers.ssrn.com
Abstract: We examine the informational effects of M&As by investigating whether bank
mergers improve banks' ability to screen borrowers. By exploiting a dataset in which we
observe a measure of a borrower's default risk that the lenders observe only imperfectly, ...
Cited by 61 - Related articles - Library Search - All 30 versions

Nonlinear pricing with self-control preferences

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S Esteban, E Miyagawa… - Journal of Economic Theory, 2007 - Elsevier
A basic assumption of economics is that consumers choose what they want. However, many
consumers find it difficult to stop overeating, overspending, smoking, procrastinating, etc,
even though they want to. In reality, consumers have temptation and it is psychologically ...
Cited by 46 - Related articles - All 46 versions

An empirical model of learning and patient spillovers in new drug entry

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A Coscelli, M Shum - Journal of Econometrics, 2004 - Elsevier
We specify and estimate a diffusion model for the new molecule omeprazole into the anti-
ulcer drug market. Our model is based on a Bayesian learning process whereby doctors
update their beliefs about omeprazole's quality relative to existing drugs after observing its ...
Cited by 47 - Related articles - All 13 versions

Econometric models of asymmetric ascending auctions

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H Hong… - Journal of Econometrics, 2003 - Elsevier
We develop econometric models of ascending (English) auctions which allow for both
bidder asymmetries as well as common and/or private value components in bidders'
underlying valuations. We show that the equilibrium inverse bid functions in each round of ...
Cited by 41 - Related articles - All 21 versions

Monopoly quality degradation and regulation in cable television

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GS Crawford, M Shum - Journal of Law and Economics, 2007 - JSTOR
Abstract Using an empirical framework based on the Mussa-Rosen model of monopoly
quality choice, we calculate the degree of quality degradation in cable television markets
and the impact of regulation on those choices. We find lower bounds of quality ...
Cited by 37 - Related articles - BL Direct - All 16 versions

Do mergers improve information? Evidence from the loan market

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F Panetta, F Schivardi… - Journal of Money, Credit and …, 2009 - Wiley Online Library
We examine the informational effects of M&As by investigating whether bank mergers
improve banks' ability to screen borrowers. By exploiting a data set in which we observe a
measure of a borrower's default risk that the lenders observe only imperfectly, we find ...
Cited by 37 - Related articles - All 8 versions

[PDF] Nonparametric identification of dynamic models with unobserved state variables

[PDF] from jhu.edu
Y Hu… - Jonhs Hopkins University, Dept. of Economics …, 2008 - econ2.jhu.edu
Abstract We consider the identification of a Markov process {Wt, X∗ t} when only {Wt} is
observed. In structural dynamic models, Wt includes the choice variables and observed state
variables of an optimizing agent, while X∗ t denotes time-varying serially correlated ...
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Generalized empirical likelihood-based model selection criteria for moment condition models

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H Hong, B Preston… - Econometric Theory, 2003 - Cambridge Univ Press
This paper proposes model selection criteria~ MSC! for unconditional moment models using
generalized empirical likelihood~ GEL! statistics+ The use of GEL-statistics in lieu of J-
statistics~ in the spirit of Andrews, 1999, Econometrica 67, 543–564; and Andrews and Lu, ...
Cited by 31 - Related articles - BL Direct - All 20 versions

Rates of information aggregation in common value auctions

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H Hong… - Journal of Economic Theory, 2004 - Elsevier
We study the rates at which transaction prices aggregate information in common value
auctions under the different information structures in Wilson (Rev. Econ. Stud. 44 (1977)
511) and Pesendorfer and Swinkels (Econometrica 65 (1997) 1247). We consider uniform ...
Cited by 19 - Related articles - All 13 versions

[PDF] Empirical modeling of endogenous quality choice: the case of cable television

[PDF] from duke.edu
GS Crawford, M Shum - Unpublished manuscript, University …, 2006 - public.econ.duke.edu
Abstract The purpose of this paper is to present a framework for the empirical analysis of
price and quality choice by a multiproduct monopolist. We do so by demonstrating that well-
known techniques from the optimal screening literature used in the theoretical analysis of ...
Cited by 18 - Related articles - View as HTML - All 18 versions

[PDF] How much competition is a secondary market?

[PDF] from tamu.edu
J Chen, S Esteban… - 2008 - econweb.tamu.edu
Abstract Do active secondary markets aid or harm durable goods manufacturers? We build a
dynamic equilibrium model of durable goods oligopoly, with consumers who incur lumpy
costs when transacting in the secondary market, and calibrate it to US automobile industry ...
Cited by 18 - Related articles - View as HTML - All 20 versions

Monopoly quality degradation and regulation in cable television

[PDF] from arizona.edu
G Crawford… - 2005 - papers.ssrn.com
Abstract: Using an empirical framework based on the Mussa-Rosen model of monopoly
quality choice, we calculate the degree of quality degradation in cable television markets
and the impact of regulation on those choices. We find lower bounds of quality ...
Cited by 13 - Related articles - All 16 versions

[PDF] Nonparametric identification of auction models with non-separable unobserved heterogeneity

[PDF] from jhu.edu
Y Hu, D McAdams… - Economics Working Paper Archive, 2009 - krieger2.jhu.edu
Abstract We propose a novel methodology for nonparametric identification of first-price
auction models with independent private values, which accommodates auction-specific
unobserved heterogeneity and bidder asymmetries, based on recent results from the ...
Cited by 12 - Related articles - View as HTML - All 21 versions

Estimating first-price auctions with an unknown number of bidders: A misclassification approach

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Y An, Y Hu… - Journal of Econometrics, 2010 - Elsevier
In this paper, we consider nonparametric identification and estimation of first-price auction
models when N∗, the number of potential bidders, is unknown to the researcher, but
observed by bidders. Exploiting results from the recent econometric literature on models ...
Cited by 12 - Related articles - All 49 versions

Pairwise‐Difference Estimation of a Dynamic Optimization Model

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H Hong… - Review of Economic Studies, 2010 - Wiley Online Library
We develop a new estimation methodology for dynamic optimization models with
unobserved shocks and deterministic accumulation of the observed state variables.
Investment models are an important example of such models. Our pairwise-difference ...
Cited by 11 - Related articles - All 20 versions

[PDF] The welfare effects of endogenous quality choice: The case of cable television

[PDF] from warwick.ac.uk
G Crawford… - manuscript, John Hopkins University, 2006 - warwick.ac.uk
Abstract The purpose of this paper is to measure the econometric and economic
consequences of endogenous quality choice by a multiproduct monopolist. Demonstrating
that well-known techniques from the optimal screening literature used in the theoretical ...
Cited by 11 - Related articles - View as HTML - All 4 versions

[PDF] Aggregate matchings

[PDF] from nber.org
F Echenique, SM Lee… - Caltech SS Work, 2010 - nber.org
Abstract This paper characterizes the testable implications of stability for aggregate
matchings. We consider data on matchings where individuals are aggregated, based on
their observable characteristics, into types, and we know how many agents of each type ...
Cited by 10 - Related articles - View as HTML - All 34 versions

[CITATION] Advertising and switching behavior in the breakfast cereals market

M Shum - Unpublished manuscript, University of Toronto, 1999
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Nonparametric likelihood ratio model selection tests between parametric likelihood and moment condition models

Full text - MIT Libraries
X Chen, H Hong… - Journal of Econometrics, 2007 - Elsevier
We propose a nonparametric likelihood ratio testing procedure for choosing between a
parametric (likelihood) model and a moment condition model when both models could be
misspecified. Our procedure is based on comparing the Kullback–Leibler Information ...
Cited by 8 - Related articles - All 9 versions

[PDF] Econometric Models of Ascending Auctions

[PDF] from psu.edu
H Hong… - J. Econometrics, 1999 - Citeseer
Abstract We develop general econometric models of ascending (English) auctions which
allow for both bidder asymmetries as well as common and/or private value components in
bidders' underlying valuations. We show that the equilibrium inverse bid functions in each ...
Cited by 8 - Related articles - View as HTML - Get it from MIT Libraries - All 3 versions

The Value of Information in the Court: Get it Right, Keep it Tight

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M Iaryczower… - The American Economic Review, 2012 - ingentaconnect.com
Abstract: We estimate an equilibrium model of decision making in the US Supreme Court
that takes into account both private information and ideological differences between justices.
We measure the value of information in the court by the probability that a justice votes ...
Cited by 6 - Related articles - All 18 versions

Culture and the institution

[HTML] from unisa.ac.za
M Shum - 1997 - Taylor & Francis
The cultural is constituted by the practices through which knowledge is institutionally
organized, certified and transmitted. Those who fall outside this pedagogic relay can never
be the addressees of the cultural n this article I will argue the perhaps rather self-evident ...
Cited by 5 - Related articles - All 3 versions

To Elect or to Appoint? Bias, Information, and Responsiveness of Bureaucrats and Politicians

[PDF] from caltech.edu
M Iaryczower, G Lewis… - 2010 - papers.ssrn.com
Abstract: In this paper, we address empirically the trade-offs involved in choosing between
bureaucrats and politicians. In order to do this, we need to map institutions of selection and
retention of public officials to the type of public officials they induce. We do this by ...
Cited by 5 - Related articles - All 15 versions

Demand and supply estimation biases due to omission of durability

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J Chen, S Esteban… - Journal of Econometrics, 2008 - Elsevier
We build a dynamic equilibrium model of a durable goods oligopoly with a competitive
secondary market to evaluate the bias in estimating the structural parameters of demand
and supply when durability is omitted. We simulate data from our dynamic model and use ...
Cited by 5 - Related articles - All 17 versions

[PDF] Monopoly Quality Degradation in Cable Television

[PDF] from cepr.org.uk
G Crawford… - 2003 - cepr.org.uk
Abstract Using an empirical framework derived from models of nonlinear pricing, we
estimate the degree of quality degradation in cable television markets. We find lower bounds
of quality degradation ranging from 11 to 45% of observed service qualities. Furthermore, ...
Cited by 4 - Related articles - View as HTML - All 9 versions

Can Search Costs Rationalize Equilibrium Price Dispersion in Online Markets?

H Hong… - 2003 - Citeseer
Abstract How large would consumer search costs have to be in order for them to rationalize
online price dispersion? We evaluate the ability of equilibrium search models to explain
observed patterns of price dispersion in online markets by developing a methodology for ...
Cited by 4 - Related articles - Cached - All 2 versions

Do sales tax credits stimulate the automobile market?

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J Chen, S Esteban… - International Journal of Industrial …, 2010 - Elsevier
In this paper, we quantitatively investigate the effectiveness of a sales tax reduction in
stimulating sales and profits of durable goods manufacturers. Our question is motivated by
policy makers' recent interest in helping ailing automobile manufacturers and in replacing ...
Cited by 4 - Related articles - All 11 versions

[CITATION] VCan search cost rationalize equilibrium price dispersion in online markets? V

H Hong… - Rand Journal of Economics, 2006
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Estimating a tournament model of intra-firm wage differentials

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J Chen… - Journal of Econometrics, 2010 - Elsevier
We consider the estimation of a tournament model with moral hazard (based on Rosen
(1986), AER)) when only aggregate data on intra-firm employment levels and salaries are
available. Equilibrium restrictions of the model allow us to recover parameters of interest, ...
Cited by 5 - Related articles - All 12 versions

[PDF] Identifying Dynamic Games with Serially-Correlated Unobservables

[PDF] from psu.edu
Y Hu… - Economics Working Paper Archive, 2008 - Citeseer
Abstract In this paper we consider the nonparametric identification of Markov dynamic
games models in which each firm has its own unobserved state variable, which is persistent
over time. This class of models includes most models in the Ericson and Pakes (1995) and ...
Cited by 3 - Related articles - View as HTML - All 14 versions

“Reading and interpretation”: The new english IA course, department of english, University of Natal, Durban

M Shum - Journal of Literary Studies, 1992 - Taylor & Francis
Summary This article examines a new first year course,“Reading and Interpretation” devised
by the Department of English at the University of Natal, Durban. The course represents an
attempt to assimilate the influence of theory on English studies into teaching methodology ...
Cited by 3 - Related articles - All 2 versions

[PS] The Econometrics of Ascending Auctions

[PS] from utoronto.ca
H Hong… - 1998 - economics.utoronto.ca
Abstract We characterize Bayesian Nash equilibria for asymmetric ascending auctions in
which both common and private value components are accommodated, and bidders'
valuations and signals are drawn from asymmetric distributions. It is shown that the ...
Cited by 3 - Related articles - View as HTML - All 8 versions

Thomas Pringle and the'Xhosa'

Full text - MIT Libraries
M Shum - English in Africa, 2000 - JSTOR
" Early nineteenth century liberalism," writes Timothy Keegan," was profoundly ambiguous.
Its rhetorical commitment to the legal formalities of equality and freedom was in sharp
contrast to its fundamental compatibility with cultural imperialism, class domination and, ...
Cited by 3 - Related articles - BL Direct - All 2 versions

Uncertainty and Experimentation in Pharmacetical Demand: Anti-Ulcer Drugs

GS Crawford, M Shum - 1999 - papers.ssrn.com
Abstract: Due to differences in the effectiveness and side effects of different drugs,
uncertainty is an important component of prescription drug choice. This uncertainty can
cause patients and doctors to experiment with different drugs until they find a good match. ...
Cited by 2 - Related articles - All 5 versions

[CITATION] Uncertainty and Learning in Pharmaceutical

G Crawford… - 2005
Cited by 2 - Related articles

[CITATION] The Econometrics of English Auctions

H Hong… - 1997 - mimeo
Cited by 2 - Related articles

[CITATION] Estimating Equilibrium Search Models

H Hong… - 2001 - Working paper
Cited by 2 - Related articles - Get it from MIT Libraries

[PDF] Structural Estimation of First Price Auction Models: Measuring Common Values and the Winner's Curse

[PDF] from psu.edu
H Hong… - 1999 - Citeseer
Abstract We estimate structural models of competitive bidding in symmetric low-price
procurement auctions in order to address two empirical questions. First, we investigate the
importance of common and private values using a general model which allows bidders' ...
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[CITATION] Structural Estimation of First-Price Auction Models

H Hong… - Unpublished Working Paper, Princeton University, 1999
Cited by 2 - Related articles

[PDF] Learning and Experimentation in Pharmaceutical Demand

[PDF] from unc.edu
Full text - MIT Libraries
G Crawford… - Econometrica, 2005 - unc.edu
Differences in the effectiveness and side effects of different drugs introduces uncertainty into
pharmaceutical demand. This in turn introduces dynamic aspects to drug choice: patients
have an incentive to experiment to gain information useful for future choices. Exploiting a ...
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Measuring Market Power in a Durable Goods Oligopoly: the Automobile Market

S Esteban… - 2001 - Citeseer
Abstract We estimate the degree of market power in the new automobile market. Unlike the
previous literature, we accommodate dynamic considerations that arise from the durable
nature of automobiles. In this setting, forward-looking rms take into account the eect that ...
Cited by 2 - Related articles - Cached - All 2 versions

The Money Pump as a Measure of Revealed Preference Violations

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F Echenique, S Lee… - Journal of Political Economy, 2011 - JSTOR
We introduce a measure of the severity of violations of the revealed preference axioms, the
money pump index (MPI). The MPI is the amount of money one can extract from a consumer
who violates the axioms. It is also a statistical test for the hypothesis that a consumer is ...
Cited by 2 - Related articles - All 5 versions

[PDF] Estimating a Tournament Model of Intra-firm Wage Differentials

[PDF] from indiana.edu
M Shum - 2007 - bus.indiana.edu
Abstract We consider the estimation of a tournament model with moral hazard (based on
Rosen (1986, AER)) when only aggregate data on intra-firm employment levels and salaries
are available. We show how the equilibrium restrictions of the tournament model allow us ...
Cited by 2 - Related articles - View as HTML - All 10 versions

[PDF] A Simple Estimator for Dynamic Models with Serially Correlated Unobservables

[PDF] from caltech.edu
Y Hu, M Shum… - Economics Working Paper Archive, 2010 - hss.caltech.edu
Abstract We present a method for estimating Markov dynamic models with unobserved state
variables which can be serially correlated over time. We focus on the case where all the
model variables have discrete support. Our estimator is simple to compute because it is ...
Cited by 1 - Related articles - View as HTML - All 17 versions

[CITATION] Uncertainty and Learning in

GS Crawford, M Shum - 2005
Cited by 1 - Related articles

[PDF] Nonparametric Identification of Dynamic Models with Unobserved State Variables: Supplemental Material

[PDF] from jhu.edu
Y Hu… - 2009 - econ2.jhu.edu
Abstract We provide some additional material pertaining to our paper Hu and Shum (2008).
In section 1, we verify our assumptions for a dynamic discrete# choice model inspired by
Rustgs (1987) bus engine replacement model. Section 2 contains a comparison of our ...
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[PDF] The Revealed Preference Theory of Stable and Extremal Stable Matchings

[PDF] from caltech.edu
F Echenique, SM Lee, M SHUM… - 2011 - hss.caltech.edu
Abstract. We investigate the testable implications of the theory of stable matchings. We
provide a characterization of the data that are rationalizable as a stable matching when
agents' preferences are unobserved. The characterization is a simple nonparametric test ...
Cited by 1 - Related articles - View as HTML - All 6 versions

A Semiparametric Estimator for Dynamic Optimization Models

H Hong… - Economics Working Paper Archive, 2000 - ideas.repec.org
We develop a new estimation methodology for dynamic optimization models with
unobserved state variables Our approach is semiparametric in the sense of not requiring
explicit parametric assumptions to be made concerning the distribution of these ...
Cited by 1 - Related articles - Cached - All 5 versions

[PDF] Interpreting intra-firm wage differentials using tournament models

[PDF] from uchicago.edu
M Shum - 2005 - economics.uchicago.edu
Abstract We fit a tournament model of Rosen (1986, AER) to data on employment levels and
intra-firm wage differentials for a sample of major retail chains in the US We find that effort
levels are generally higher at higher strata of employment within a firm, but that only a ...
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[PDF] Estimation of Random Coefficients Logit Demand Models with Interactive Fixed Effects

[PDF] from caltech.edu
HR Moon, M Shum… - October, 2010 - mh-hss-p1.caltech.edu
Abstract We extend the Berry, Levinsohn and Pakes (BLP, 1995) random coefficients
discretechoice demand model, which underlies much recent empirical work in IO. We add
interactive fixed effects in the form of a factor structure on the unobserved product ...
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[PS] Empirically Characterizing Informational Barriers to Entry in the Anti-Ulcer Drug Market

[PS] from utoronto.ca
A Coscelli, M Shum - 1998 - repec.economics.utoronto.ca
Abstract We empirically quantify and characterize informational barriers to entry into the anti-
ulcer drug market by studying the di usion process of the molecule omeprazole in the rst 30
months after it entered the market. Using a novel panel dataset tracking doctors' complete ...
Cited by 1 - Related articles - View as HTML - All 8 versions

Unsettling Settler Identity: Thomas Pringle's Troubled Landscapes

Full text - MIT Libraries
M Shum - English in Africa, 2006 - JSTOR
Postcolonial criticism, like its theoretical predecessor colonial discourse analysis, is rarely
sympathetic to settler literature, and then only when this literature registers, in some explicit
way, opposition to the colonial enterprise. Such an undifferentiated association of colonial ...
Cited by 1 - Related articles - BL Direct - All 4 versions

[PDF] Identification of First-Price Auctions with Non-separable Unobserved Heterogeneity

[PDF] from jhu.edu
Y Hu, J Hopkins, D McAdams… - 2011 - econ2.jhu.edu
Abstract We propose a novel methodology for identification of first-price auctions, when
bidders' private valuations are independent conditional on one-dimensional unobserved
heterogeneity. We extend the existing literature (Li and Vuong (1998), Krasnokutskaya ( ...
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[PDF] State Dependence in Pharmaceutical prescription choice: implications for physician authority and market structure

[PDF] from duke.edu
G Crawford… - Duke University, Stanford University, 1998 - econ.duke.edu
Abstract Exploiting a rich dataset on complete physician and patient prescription histories of
anti-ulcer medication in Italy over a three-year period, we explore the extent of persistence in
pharmaceutical prescription choices over time. The results have important implications ...
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The Content of the Form: Romance and Realism in Douglas Blackburn's" Leaven"

Full text - MIT Libraries
M Shum - English in Africa, 1994 - JSTOR
One of the final chapters of Douglas Blackburn's Leaven deals with the PR machinations of
a shrewd but unscrupulous compound manager affectionately known to the mining
community as" genial" Sid Dane." The compound of the New Yankee Mine," we are told," ...
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Limit distributions of equilibrium bids in common value auctions

H Hong… - 2000 - Citeseer
Abstract We derive the limit distributions of equilibrium bids in common value auctions as the
number of bidders grows large. We view the common value auction as a statistical
experiment in which the winning bids are estimators of the unknown common value, ...
Cited by 1 - Related articles - Cached

The Prehistory of The History of Mary Prince: Thomas Pringle's" The Bechuana Boy"

Full text - MIT Libraries
M Shum - Nineteenth-Century Literature, 2009 - JSTOR
Thomas Pringle, a Scottish journalist and poet, is best known to Anglo-American scholarship
for his role as editor of the first black female slave narrative to be published in Britain, The
History of Mary Prince (1834). Pringle had lived in the Cape Colony from 1820 to 1826, ...
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Nonparametric tests for common values in fixed-price sealed-bid auctions

[PDF] from feem.it
P Haile, H Hong… - 2004 - papers.ssrn.com
Abstract: We develop tests for common values at first-price sealed-bid auctions. Our tests are
nonparametric, require observation only of the bids submitted at each auction, and are
based on the fact that the" winner's curse" arises only in common values auctions. The ...
Cited by 1 - Related articles - All 4 versions

Revealed Preference Tests using Supermarket Data: the Money Pump

[PDF] from caltech.edu
F Echenique, SM Lee… - 2010 - authors.library.caltech.edu
We use a money pump argument to measure deviations from the revealed preference
axioms. Using a panel data set of food expenditures, we find a large number of violations of
the weak axiom of revealed preference. The money pump costs are small, which indicate ...
Related articles - All 9 versions

The Econometrics Of English Auctions

M Shum - Working Papers, 1998 - ideas.repec.org
We characterize Bayesian Nash equilibria for asymmetric ascending auctions in which both
common and private value components are accommodated, and bidders' valuations and
signals are drawn from asymmetric distributions. It is shown that the equilibrium inverse ...
Cached - Get it from MIT Libraries - All 4 versions

[PDF] Identifying Dynamic Games with Unobserved State Variables

[PDF] from usc.edu
Y Hu… - www-rcf.usc.edu
Abstract In this paper we consider the nonparametric identification of Markov dynamic
games models in which each firm has its own unobserved state variable, which is persistent
over time. This class of models includes most models in the Ericson and Pakes (1995) and ...
Related articles - View as HTML - All 2 versions

[PDF] Rates of Convergence in Common Value AuctionsЃ

[PDF] from yale.edu
H Hong… - 2001 - aida.econ.yale.edu
Abstract We derive the limit distributions of equilibrium bids in common value auctions as the
number of bidders grows large. We view the common value auction as a statistical
experiment in which the winning bids are estimators of the unknown common value, ...
Related articles - View as HTML - All 6 versions

[CITATION] The Welfare Effects of Monopoly Quality Choice: The Case of Cable Television

GS Crawford, M Shum
Related articles

Characterizing Informational Barriers To Entry In The Anti-Ulcer Drug Market

M Shum - Working Papers, 1998 - ideas.repec.org
We empirically quantify and characterize informational barriers to entry into the anti-ulcer
drug market by studying the diffusion process of the molecule Omeprazole in the first 30
months after it entered the market. Using a novel panel dataset tracking doctors' complete ...
Cached - Get it from MIT Libraries - All 4 versions

[PDF] Money in Judicial Politics: Campaign Contributions and Collective Outcomes

[PDF] from yale.edu
M Iaryczower… - 2011 - yale.edu
Abstract We study how campaign contributions affect the voting strategies and effectiveness
of justices in the Supreme Court of eight US states. A judge's voting strategy leans more
heavily towards an interest group the larger are its contributions to the judge, and the ...
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Nonparametric Identification of First-Price Auctions with Non-Separable Unobserved Heterogeneity

D McAdams, Y Hu… - Working Papers, 2010 - ideas.repec.org
We propose a novel methodology for nonparametric identification of first-price auction
models with independent private values, which allows for one-dimensional auctionspecific
unobserved heterogeneity, based on recent results from the econometric literature on ...
Related articles - Cached - Get it from MIT Libraries - All 4 versions

Nonlinear Pricing with Self-Control Preferences

[PDF] from uc3m.es
M Shum, S Esteban… - 2003 - e-archivo.uc3m.es
This paper studies optimal nonlinear pricing for a monopolist when consumers' preferences
exhibit temptation and self-control as in Gul and Pesendorfer (2001a). Consumers are
subject to temptation inside the store but exercise self-control, and those foreseeing large ...
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[CITATION] Do Campaign Contributions Reduce the Quality of Elected Justices?

M Iaryczower, M Shum… - 2011

Inventing Xhosa Voice: Thomas Pringle's “Makanna's Gathering”

M Shum - JLS/TLW, 2010 - Taylor & Francis
Summary This article examines the informing conditions and conventions of Thomas
Pringle's poem “Makanna's Gathering”. I argue that despite its ostensible endorsement of
Xhosa retaliation against colonial rule, the poem exhibits an obvious unease about Xhosa ...
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[PDF] Efficiency and Bargaining Power in the Interbank Loan Market

[PDF] from caltech.edu
J Allen, J Chapman, F Echenique… - 2012 - hss.caltech.edu
Abstract We use data on interbank loans and the core equilibrium concept to examine the
efficiency of an overnight interbank lending market, and the bargaining power of its
participants. In the specific case of Canada's Large-Value Transfer System, we show that ...
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Three essays in empirical industrial organization

M Shum - 1998 - resolver.caltech.edu
This thesis consists of three empirical essays on topics in industrial organization. Chapter 1
introduces the three essays and describes their main results. In chapter 2, I measure the
effects of advertising on households' choices among competing brands of differentiated ...
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[CITATION] The Welfare Effects of Monopoly Quality Choice: The Case of Cable Television

M Shum, GS Crawford… - 2006 - School of Economics & Finance, The …
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Do Mergers Improve Information? Evidence from the Loan Market

P Fabio, S Fabiano… - ukpmc.ac.uk
We examine the informational effects of M&As investigating how bank mergers affectthe
pricing of loan contracts. Our test is based on the principle that informationalimprovements
should lead to a closer correspondence between the risk of each firm andits loan rate. We ...
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[PDF] The Welfare Effects of Monopoly Quality Choice: Evidence from Cable Television Markets

[PDF] from uzh.ch
GS Crawford, O Shcherbakov… - econ.uzh.ch
Abstract We measure the welfare consequences of market power over quality in cable
television markets. We extend the analytical approach commonly used in the theoretical
screening literature to specify an empirical model that endogenizes the prices and ...
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[CITATION] NAME AFFILIATION TITLE*

H Fang, S Imai, M Keane, S Seitz, B Shearer… - Economic Policy, 2000
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Durable-Goods Oligopoly with Secondary Markets: Theory and an Empirical Application to the Automobile Market

S Esteban… - 2001 - ideas.repec.org
We examine the effects of durability on equilibrium producer behavior in the car market In
this setting forward-looking producers take into account the effect that their current
production decisions have on their current and future profits due to the existence of a ...
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Is Advertising Informative? Evidence from Contraindicated Drug Prescriptions

[PDF] from caltech.edu
G Huang, M Shum… - 2012 - papers.ssrn.com
Abstract: Crestor, an important but controversial cholesterol-lowering drug, is
contraindicated for use by senior and Asian patients. In this paper, we exploit this fact and a
unique doctor-level prescription and advertising exposure data for statin drugs to examine ...
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[PDF] Can Search Costs Rationalize Equilibrium Price Dispersion

[PDF] from psu.edu
H Hong… - Citeseer
Abstract How large would consumer search costs have to be in order for them to rationalize
online price dispersion? We evaluate the ability of equilibrium search models to explain
observed patterns of price dispersion in online markets by developing a methodology for ...
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Thomas Pringle's" The Emigrant's Cabin" and the invention of settler colonialism

M Shum - 2011 - sabinet.co.za
Abstract: Although Thomas Pringle produced a significant body of work during his residence
in the Cape Colony, he also wrote extensively about this experience from a metropolitan
vantage heavily invested in his public role as the secretary of the Anti-Slavery Society and ...
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DP4961 Do Mergers Improve Information? Evidence from the Loan Market

F Panetta, F Schivardi… - 2005 - cepr.org
We examine the informational effects of M&As by investigating whether bank mergers
improve banks' ability to screen borrowers. By exploiting a dataset in which we observe a
measure of a borrower's default risk that the lenders observe only imperfectly, we find ...
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[CITATION] Money in Judicial Politics: Do Campaign Contributions lead to Worse Judges?

M Iaryczower… - 2011
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[PDF] How Much Competition is a Secondary Market?–Online Appendix (Not for Publication)

[PDF] from uci.edu
J Chen, S Esteban… - 2011 - socsci.uci.edu
In calibrating the model, some of the parameter values are chosen based on data or recent
empirical studies (summarized in Table 1 of the paper), and the remaining are obtained by
finding the parameterization that best matches the steady state in the model to the ...
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[CITATION] Durable-goodsoligopolywithsecondary markets: thecaseofautomobiles

Full text - MIT Libraries
S Esteban… - RAND Journal of Economics, 2007
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[CITATION] Money in Judicial Politics: Do Campaign Contributions lead to Worse Judges? Preliminary and Incomplete Comments are Welcome!-Please do not …

M Iaryczower… - 2011
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Nonparametric Tests for Common Values

M Shum - Econometric Society World Congress 2000 Contributed …, 2000 - ideas.repec.org
We develop tests for the presence of common value components in bidders' valuations at
symmetric first-price sealed bid auctions. These tests are fully nonparametric and require
observations only of the bids submitted at each auction. The main principle of the test ...
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Mark Israel Marc Ivaldi Dwight Jaffee Frederick Joutz

Full text - MIT Libraries
D Kaserman, E Kiser, H Koski… - Review of Industrial …, 2005 - Springer
The Review of Industrial Organization relies upon its Board of Editors and leading scholars in
the field for thoughtful and constructive reviews. We acknowledge the generous assistance of
the following individuals, in addi- tion to the Board of Editors, over the course of 2004:
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[CITATION] Han Hong and

Full text - MIT Libraries
M Shum - RAND Journal of Economics, 2006
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Empirical Likelihood-Based Selection Criteria for Moment Condition Models

H Hong, B Preston… - Economics Working Paper Archive, 2001 - ideas.repec.org
In this note we propose model selection criteria (MSC) for unconditional moment models
using empirical likelihood (EL) statistics in the construction of the MSC The use of EL-
statistics in lieu of the more common J-statistics leads to a much more transparent ...
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Structural Estimation Of Auction Models

M Shum - Working Papers, 1998 - ideas.repec.org
This paper illustrates in general terms the basic methodology of structural estimation using
auction data. It provides a unified view of the common structure underlying structural
econometric auction models under various model paradigms. We identify the most crucial ...
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[CITATION] Cover Cover (pp. C1-C4)

M Shum, A Urakova, JE Pike… - Nineteenth-Century Literature, 2009 - JSTOR
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[A] dark, deceitful and disorderly race': Thomas Pringle's 'Notices concerning the Scottish Gypsies

M Shum - The English Academy Review, 2003 - Taylor & Francis
Accounts of Pringle's Scottish years by local literary critics routinely assume that he arrived
in this country as a fully credentialed herald of'progressive'Enlightenment values: a rational
humanist, a democratic enemy of absolutism, a poet imbued with the libertarian'spirit'of ...
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Semiparametric Estimation of a Dynamic Competitive Equilibrium Model: an Application to a Milk Quota Market

H Han, S Matthew - ukpmc.ac.uk
We estimate a model of dynamic competitive equilibrium in the market for milk production
quota in Ontario, Canada. We employ an estimation methodology which is semiparametric
in the sense of not requiring explicit parametric assumptions to be made concerning the ...
Cached

[PDF] Do Mergers Improve Information? Evidence from the Loan

[PDF] from psu.edu
F Panetta, F Schivardi… - Citeseer
Abstract We examine the informational effects of M&As investigating how bank mergers
affect the pricing of loan contracts. Our test is based on the principle that informational
improvements should lead to a closer correspondence between the risk of each firm and ...
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[PDF] Intimidation or Impatience? Jump Bidding in On-line Ascending Automobile Auctions

[PDF] from chapman.edu
D Grether, D Porter… - Working Papers, 2011 - liquidmatrix.chapman.edu
Abstract: We run a large field experiment with an online company specializing in selling
used automobiles via ascending auctions. We manipulate experimentally the maximum
amount which bidders can bid above the current standing price, thus affecting the ease ...
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