A fundamental question remains unanswered which I seek to address in this research: What is the actual value of novelty in pharmaceuticals to consumers?…Read More
Valuing Novelty in Consumer Demand for Pharmaceuticals
pricing
The Trends of Drug Pricing After Entries of Generic Drugs
In pharmaceutical markets, there are evidences that after branded drugs lose patent exclusivity, the entries of first generic drug do not significantly bring the drug prices down.…Read More
Innovation Networks, Asset Pricing, and Machine Learning
This project uses detailed firm-level data to construct dynamic firm-to-firm innovation networks from 1919 to 2018 and explores the economic value as well as innovation opportunities and risks in innovation networks.…Read More
How Will AB5 Change Service Platforms’ Service Models
In September 2019, the State of California passed Assembly Bill 5, a bill that re-defines many categories of work that previously fell under contractor status. Among all industries that will be affected by this bill, service platforms make the top of the list. …Read More
Digital Redlining and the Distributional Effects of AI-enabled Promotional Targeting
In recent years, firms have started to incorporate new techniques from artificial intelligence into their decision making processes. However, these techniques come with a novel set of reputational and legal risks relating to algorithmic bias and digital discrimination. …Read More
Reference Point Dependence under Dynamic Pricing
Alongside advances in technological innovation, dynamic pricing — which allows prices to change according to current market conditions — has played an increasingly important role in marketing.…Read More
Risk Sharing Agreements for New Medical Treatments
The clinical-trial data used to make approval decisions for medical therapies are collected from a relatively small patient sub-populations. Given small sample sizes, trial data may suggest that treatments are medically or economically nonviable, even though they ultimately may be, or vice versa. …Read More
The Added Value of Analytics and Impact of Exposure to Business Benchmarks
What is the impact of deploying an analytics solution on firm output? How is this impact generated by the firm? We use data from over 1,000 firms to estimate the causal impact of analytics and benchmarking on firm performance.…Read More
Information Provision in the Housing Market
Improvements in information technology in recent decades has changed our lives and upended industries. One of its major impacts is to make previously inaccessible information accessible, reduce information asymmetries and improve market efficiencies.…Read More
Do Consumers Value Price Transparency?
We examine the role of price transparency in consumer preferences and demand. We assemble a detailed dataset on the driving school industry in Portugal to quantify how firms present the price of the course of instruction, and its individual components, to potential students.…Read More
Price Effects in Online Product Reviews: An Analytical Model and Empirical Analysis
Consumer reviews may reflect not only perceived quality but also the difference between quality and price (perceived value). In markets where product prices change frequently, these price-influenced reviews may be biased as a signal of product quality when used by consumers possessing no knowledge of historical prices.…Read More
Music for a Song: An Empirical Look at Uniform Pricing and Its Alternatives
Economists have well-developed theories that challenge the wisdom of the common practice of uniform pricing. With digital music as its context, this paper explores the profit and welfare implications of various alternatives, including song-specific pricing, various forms of bundling, two-part tariffs, nonlinear pricing, and third-degree price discrimination.…Read More