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August 2020 - present
United States Federal Trade Commission
Algorithmic pricing changes the nature of competition by automating firms' responses to rivals' prices, which increases firms' commitment. I introduce managers who may override an automated pricing rule after the rule is chosen, thereby eroding commitment. This greatly refines the set of equilibrium outcomes, but even when managerial override is co...
I show that firms facing demand uncertainty may adapt by changing their capacity investment. I distinguish between demand volatility as demand fluctuations to which capacity cannot respond but prices can, and demand uncertainty as demand fluctuations to which neither capacity nor prices can respond. In a simple model capacity choice, converting unc...
I study why some firms have better information about market demand than their rivals, with application to the hotel industry. Hotel chains delegate pricing to their franchisees and extract royalty payments as a percentage of revenues; larger chains charge higher royalties. Franchisees affiliated with larger hotel chains may have better information...
High temperature and humidity conditions are associated with short-term elevations in the mortality rate in many United States cities. Previous research has quantified this relationship in an aggregate manner over large metropolitan areas, but within these areas the response may differ based on local-scale variability in climate, population charact...