Events
Week of Events
Job Market Seminars Andres Garcia-Suaza (Universidad Carlos III de Madrid)
Job Market Seminars Andres Garcia-Suaza (Universidad Carlos III de Madrid)
"Oaxaca-Blinder type Decomposition Methods for Duration Outcomes"
Job Market Seminars Stefano Sacchetto (London Business School)
Job Market Seminars Stefano Sacchetto (London Business School)
"Merger Activity in Industry Equilibrium" ABSTRACT We study a dynamic industry-equilibrium model that features mergers, entry, and exit by heterogeneous firms. We show how different sources of synergies affect merger cyclicality. Improvements in marginal productivity between merging firms generate a procyclical motive for mergers, while reductions in fixed costs of production generate a countercyclical one.…
Job Market Seminars Bruno Salcedo (Penn State University)
Job Market Seminars Bruno Salcedo (Penn State University)
"Pricing Algorithms and Tacit Collusion" Abstract There is an increasing tendency for firms to use pricing algorithms that speedily react to market conditions, such as the ones used by major airlines and online retailers like Amazon. I consider a dynamic model in which firms commit to pricing algorithms in the short run. Over time, their algorithms can be revealed…