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Optimal Design of Market Access

By Takuro Yamashita and Shuguang Zhu

American Economic Journal: Microeconomics

We study a data provider’s problem of optimally designing and selling marketing lists that enable a retailer with private types to access consumers with heterogeneous characteristics. When virtual values satisfy a particular form of convexity (named bo...

Information and the Formation of Inflation Expectations by Firms: Evidence from a Survey of Israeli Firms

By Yuriy Gorodnichenko, Ari Kutai, and Rafi Melnick

American Economic Journal: Macroeconomics

We analyze how firms form their inflation expectations after a regime change in monetary policy and a transition to a low-inflation environment. Utilizing the Bank of Israel’s survey of firms, we document the basic properties of firms’ inflation expec...