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Platform Traps

By Andrei Hagiu and Julian Wright

American Economic Journal: Microeconomics

A novel feature of platforms such as marketplaces and social networks is that nonparticipants may become worse off as others join. We show that in such settings, rational agents can be induced to join a platform despite being better off without it—a p...

Myths, Morals, and Movies

By Stelios Michalopoulos and Christopher Rauh

American Economic Review

Why are certain movies more successful in some markets than others? Are the entertainment products we consume reflective of our core beliefs? To answer these questions, we analyze international movie data and local tales using machine learning to measu...

The Effect of Low-Skill Immigration Restrictions on US Firms and Workers: Evidence from a Randomized Lottery

By Michael A. Clemens and Ethan G. Lewis

American Economic Journal: Applied Economics, July 2026

US firms hiring foreign workers in low-skill nonfarm jobs face a binding quota on the "H-2B" visa, allocated in part through a randomized lottery. We evaluate the quota's marginal impact using the lottery, a novel firm survey, and a pre-analysis plan. Fir...