Working Papers

Choice screen auctions have been recently deployed in 31 European countries, allowing consumers to choose their preferred search engine on Google’s Android platform instead of automatically defaulting them to Google’s own search engine. I show...

Alongside the outbreak of the novel coronavirus, an “infodemic” of myths and hoax cures is spreading over online media outlets and social media platforms. Building on the literature on combating fake news, we evaluate experimental...

Comparison Lift is an experimentation-as-a-service (EaaS) application for testing online advertising audiences and creatives at JD.com. Unlike many other EaaS tools that focus primarily on fixed sample A/B testing, Comparison Lift deploys a custom bandit-based experimentation algorithm....

We develop a model of financial crises with both a financial amplification mechanism, via frictional intermediation, and a role for sentiment, via time-varying beliefs about an illiquidity state. We confront the model with data on...

A central project for occupational groups is acquiring and defending jurisdiction; scholars have investigated abstract knowledge, material resources, and social connections as channels by which this is accomplished. We propose a new mechanism, cultural capital,...

In severe viral pneumonia, including Coronavirus disease 2019 (COVID-19), the viral replication phase is often followed by hyperinflammation (‘cytokine storm syndrome’), which can lead to acute respiratory distress syndrome, multi-organ failure, and death. We previously...

PRELIMINARY

This note presents a preliminary approach to the design of an across-the-curve credit spread index (AXI). The index is a measure of the recent average cost of wholesale unsecured debt funding for publicly listed...

What leads people to feel negatively about members of other social groups? While recent work has mostly focused on the strength of group identity, we propose that perceptions of intergroup difference, and the animus they...

We compare the revenue of the optimal third-degree price discrimination policy against a uniform pricing policy. A uniform pricing policy offers the same price to all segments of the market. Our main result establishes that...