Events
Week of Events
Monday Lunch Seminars Andrei Hagiu (MIT Sloan)
Monday Lunch Seminars Andrei Hagiu (MIT Sloan)
"Platforms and the exploration of new products" abstract The introduction of new but risky products and sellers are key to the growth of platforms. Exploration by current buyers helps future buyers better value these products and sellers. This externality across buyers raises the possibility that there may be too little exploration in the absence of…
Seminars in Economics CANCELLED: Martin Pesendorfer (LSE)
Seminars in Economics CANCELLED: Martin Pesendorfer (LSE)
"Reference dependence, limited attention, and intertemporal substitution in consumer choice" Abstract We develop a discrete-choice demand model accommodating expectations-based reference effects following Koszegi and Rabin . Applying this model to panel data on household ketchup purchases, we find substantial evidence of reference effects. We then extend this model to fully dynamic setting accommodating limited attention…
Monday Lunch Seminars Nicola Borri (LUISS)
Monday Lunch Seminars Nicola Borri (LUISS)
"Limited Participation and Local Currency Sovereign Debt" Abstract Emerging country governments increasingly issue bonds denominated in local currency and the share of this market held by foreign investors, once negligible, has been progressively growing. This paper presents a model of segmented markets, in which specialized foreign investors can access multiple local markets only after paying an…