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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...

Screening Adaptive Cartels

By Juan Ortner, Sylvain Chassang, and Kei Kawai

American Economic Review: Insights

We propose an equilibrium theory of data-driven antitrust oversight in which regu- lators launch investigations on the basis of suspicious bidding patterns and cartels can adapt to the statistical screens used by regulators. Our main result establishes ...