Physician-Industry Interactions: Persuasion and Welfare

Working Papers

In markets where consumers seek expert advice regarding purchases, firms seek to influence experts, raising concerns about biased advice. We combine a model of supply and demand with a local instrumental variables strategy based on regional spillovers from academic medical center conflict-of-interest policies. Read More

External Verifiability of Accounting Information and Intangible Asset Transactions

Working Papers

Firms commonly use disaggregated accounting information to facilitate efficient contracting over intangible assets. However, reliance on accounting measures creates information asymmetries and thus a role for contract audits.Read More