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Learning When to Quit: An Empirical Model of Experimentation in Standards Development

By Bernhard Ganglmair, Timothy Simcoe, and Emanuele Tarantino

American Economic Journal: Microeconomics, August 2025

Using data from the Internet Engineering Task Force (IETF), a voluntary organization that develops protocols for managing internet infrastructure, we estimate a dynamic discrete choice model of the decision to continue or abandon a line of research. The m...

Competition and Defaults in Online Search

By Francesco Decarolis, Muxin Li, and Filippo Paternollo

American Economic Journal: Microeconomics, August 2025

This paper offers the first systematic quantitative assessment of default-option interventions designed to mitigate Google's search dominance. By analyzing interventions in the European Economic Area (EEA), Russia, and Turkey, we find that across all thre...

Unraveling and Inefficient Matching

By Akhil Vohra

American Economic Journal: Microeconomics, August 2025

Labor markets unravel when workers and firms match inefficiently early under limited information. I argue that a significant determinant of unraveling is the presence of a secondary market, where firms can poach workers, and its transparency: how well fir...

Bargaining and Information Acquisition

By Kalyan Chatterjee, Miaomiao Dong, and Tetsuya Hoshino

American Economic Journal: Microeconomics, August 2025

We consider an ultimatum game where the value of the object being sold to the buyer is high or low. The seller knows the value, but the buyer does not. The value to the seller is zero. We introduce the option for the buyer to acquire costly information af...

Mergers, Entry, and Consumer Welfare

By Peter Caradonna, Nathan H. Miller, and Gloria Sheu

American Economic Journal: Microeconomics, August 2025

We model merger-induced entry in the context of differentiated-products price competition. We fully characterize the combinations of merger efficiencies and entrant qualities that can mitigate the adverse equilibrium welfare effects of an otherwise antico...