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- 2023
- Working Paper
Rule by Market: The Chinese State in Factor Markets
By: Meg Rithmire
Political economy on China and beyond generally has been premised on a trade-off between state and market power. In the context of China’s reforms, markets and market mechanisms were hypothesized to replace state power in allocating important economic resources. Yet,...
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Rithmire, Meg. "Rule by Market: The Chinese State in Factor Markets." Harvard Business School Working Paper, No. 23-040, March 2023.
- 2022
- Article
Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response
By: Alexander MacKay and Samuel N. Weinstein
Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate...
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Keywords:
Competition Policy;
Regulation;
Algorithmic Pricing;
Dynamic Pricing;
Economics;
Law And Economics;
Law And Regulation;
Consumer Protection;
Antitrust Law;
Industrial Organization;
Antitrust Issues And Policies;
Technological Change: Choices And Consequences;
Competition;
Policy;
Price;
Governing Rules, Regulations, and Reforms;
Microeconomics;
Duopoly and Oligopoly;
Law
MacKay, Alexander, and Samuel N. Weinstein. "Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response." Washington University Law Review 100, no. 1 (2022): 111–174. (Direct download.)
- July 7, 2022
- Other Article
Are Online Prices Higher Because of Pricing Algorithms?
By: Zach Y. Brown and Alexander J. MacKay
This article reviews recent work examining pricing strategies of major online retailers and the potential effects of pricing algorithms. We describe how pricing algorithms can lead to higher prices in a number of ways, even if some characteristics of these algorithms...
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Keywords:
Pricing Algorithms;
Online Marketplace;
Digital Strategy;
Internet and the Web;
Retail Industry
Brown, Zach Y., and Alexander J. MacKay. "Are Online Prices Higher Because of Pricing Algorithms?" Brookings Series: The Economics and Regulation of Artificial Intelligence and Emerging Technologies (July 7, 2022).
- July 2022
- Teaching Note
The DivaCup: Navigating Distribution and Growth
By: Ayelet Israeli
Teaching Note for HBS Case No. 519-055. When the mother-daughter founders of DivaCup set out with a mission to disrupt the menstrual care industry with an innovative product form, they initially struggled to gain legitimacy and convince retailers to carry their unique...
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Keywords:
Female;
Female Ceo;
Female Entrepreneur;
Female Protagonist;
Health & Wellness;
Healthcare;
Price Policies;
Minimum Advertised Price;
Differentiation;
Positioning;
Growth;
Health;
Health Care and Treatment;
Price;
Disruption;
Distribution;
Distribution Channels;
Competitive Strategy;
Competition;
Growth Management;
Mission and Purpose;
Product Development;
Product Marketing;
Product Launch;
Product Positioning;
Advertising;
Business Startups;
Internet and the Web;
Entrepreneurship;
Social Entrepreneurship;
Social Issues;
Social Enterprise;
Retail Industry;
Medical Devices and Supplies Industry;
Manufacturing Industry;
Health Industry;
Green Technology Industry;
Education Industry;
Distribution Industry;
Consumer Products Industry;
Canada;
United States;
United Kingdom
- May 2022 (Revised August 2022)
- Case
LOOP: Driving Change in Auto Insurance Pricing
By: Elie Ofek and Alicia Dadlani
John Henry and Carey Anne Nadeau, co-founders and co-CEOs of LOOP, an insurtech startup based in Austin, Texas, were on a mission to modernize the archaic $250 billion automobile insurance market. They sought to create equitably priced insurance by eliminating pricing...
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Keywords:
AI and Machine Learning;
Technological Innovation;
Equality and Inequality;
Prejudice and Bias;
Growth and Development Strategy;
Customer Relationship Management;
Price;
Insurance Industry;
Financial Services Industry
Ofek, Elie, and Alicia Dadlani. "LOOP: Driving Change in Auto Insurance Pricing." Harvard Business School Case 522-073, May 2022. (Revised August 2022.)
- April 2022
- Article
Predictable Financial Crises
Using historical data on post-war financial crises around the world, we show that crises are substantially predictable. The combination of rapid credit and asset price growth over the prior three years, whether in the nonfinancial business or the household sector, is...
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Greenwood, Robin, Samuel G. Hanson, Andrei Shleifer, and Jakob Ahm Sørensen. "Predictable Financial Crises." Journal of Finance 77, no. 2 (April 2022): 863–921.
- March 31, 2022
- Article
Two Approaches to Capping Health Care Prices
By: Michael E. Chernew, Maximilian J. Pany and Leemore S. Dafny
High health care prices for the privately-insured contribute to high premiums, which put downward pressure on wages, and induce employers to reduce benefit generosity and charge employees more for coverage. As the average annual premium for family coverage currently...
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Chernew, Michael E., Maximilian J. Pany, and Leemore S. Dafny. "Two Approaches to Capping Health Care Prices." Health Affairs Forefront (March 31, 2022).
- 2022
- Working Paper
Can Evidence-Based Information Shift Preferences Towards Trade Policy?
By: Laura Alfaro, Maggie X. Chen and Davin Chor
We investigate the role of evidence-based information in shaping individuals' preferences for trade policies, through a series of survey experiments that contain randomized information treatments. Each treatment provides a concise statement of economics research...
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Alfaro, Laura, Maggie X. Chen, and Davin Chor. "Can Evidence-Based Information Shift Preferences Towards Trade Policy?" Harvard Business School Working Paper, No. 22-062, March 2022. (Revised September 2022.)
- 2021
- Working Paper
Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response
By: Alexander J. MacKay and Samuel Weinstein
Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate...
View Details
Keywords:
Competition Policy;
Regulation;
Algorithmic Pricing;
Dynamic Pricing;
Law And Economics;
Law And Regulation;
Consumer Protection;
Competition;
Policy;
Price;
Governing Rules, Regulations, and Reforms;
Economics
MacKay, Alexander J., and Samuel Weinstein. "Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response." Harvard Business School Working Paper, No. 22-050, January 2022. (Direct download.)
- December 2021
- Article
India's Food Supply Chain during the Pandemic
By: Matt Lowe, G.V. Nadhanael and Benjamin N. Roth
We document the impact of India’s COVID-19 lockdown on the food supply chain. Food arrivals in wholesale markets dropped by 69% in the three weeks following the lockdown and wholesale prices rose by 8%. Six weeks after the lockdown began, volumes and prices had fully...
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Keywords:
COVID-19;
Supply Chain;
Health Pandemics;
Food;
Policy;
System Shocks;
Food and Beverage Industry;
India
Lowe, Matt, G.V. Nadhanael, and Benjamin N. Roth. "India's Food Supply Chain during the Pandemic." Art. 102162. Food Policy 105 (December 2021).
- December 2021
- Article
Trade Policy Uncertainty and Stock Returns
By: Marcelo Bianconi, Federico Esposito and Marco Sammon
A recent literature has documented large real effects of trade policy uncertainty (TPU) on trade, employment, and investment, but there is little evidence that investors are compensated for bearing such risk. To quantify the risk premium associated with TPU, we exploit...
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Keywords:
Trade Policy;
Uncertainty;
Stock Returns;
Risk Premium;
Tariff Rates;
Portfolio Analysis;
Trade;
Policy;
Risk and Uncertainty;
Stocks;
Investment Return
Bianconi, Marcelo, Federico Esposito, and Marco Sammon. "Trade Policy Uncertainty and Stock Returns." Art. 102492. Journal of International Money and Finance 119 (December 2021).
- November 2021
- Article
A Salient Sugar Tax Decreases Sugary Drink Buying
By: Grant E. Donnelly, Paige Guge, Ryan Howell and Leslie John
Many governments have introduced sugary drink excise taxes to reduce purchasing and consumption of such drinks; however, they do not typically stipulate how such taxes should be communicated at point-of-purchase. Historical, field, and experimental data entailing over...
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Keywords:
Decision-making;
Open Data;
Open Materials;
Preregistered;
Health;
Policy;
Taxation;
Consumer Behavior;
Decision Making
Donnelly, Grant E., Paige Guge, Ryan Howell, and Leslie John. "A Salient Sugar Tax Decreases Sugary Drink Buying." Psychological Science 32, no. 11 (November 2021): 1830–1841.
- September–October 2021
- Article
Frontiers: Can an AI Algorithm Mitigate Racial Economic Inequality? An Analysis in the Context of Airbnb
By: Shunyuan Zhang, Nitin Mehta, Param Singh and Kannan Srinivasan
We study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Our empirical strategy exploits Airbnb’s introduction of the algorithm and its voluntary adoption by hosts as a quasi-natural experiment. Among...
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Keywords:
Smart Pricing;
Pricing Algorithm;
Machine Bias;
Discrimination;
Racial Disparity;
Social Inequality;
Airbnb Revenue;
Revenue;
Race;
Equality and Inequality;
Prejudice and Bias;
Price;
Mathematical Methods;
Accommodations Industry
Zhang, Shunyuan, Nitin Mehta, Param Singh, and Kannan Srinivasan. "Frontiers: Can an AI Algorithm Mitigate Racial Economic Inequality? An Analysis in the Context of Airbnb." Marketing Science 40, no. 5 (September–October 2021): 813–820.
- Article
Regulating Hospital Prices Based on Market Concentration Is Likely to Leave High-Price Hospitals Unaffected
By: Maximilian J. Pany, Michael E. Chernew and Leemore S. Dafny
Concern about high hospital prices for commercially insured patients has motivated several proposals to regulate these prices. Such proposals often limit regulations to highly concentrated hospital markets. Using a large sample of 2017 US commercial insurance claims,...
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Keywords:
Health Care Providers;
Hospitals;
Insurance Market Regulation;
Price Regulation;
Markets;
Health Care and Treatment;
Cost;
Quality;
Insurance;
Price;
Governing Rules, Regulations, and Reforms
Pany, Maximilian J., Michael E. Chernew, and Leemore S. Dafny. "Regulating Hospital Prices Based on Market Concentration Is Likely to Leave High-Price Hospitals Unaffected." Health Affairs 40, no. 9 (September 2021): 1386–1394.
- July 2021
- Article
Redistribution through Markets
By: Piotr Dworczak, Scott Duke Kominers and Mohammad Akbarpour
Policymakers frequently use price regulations as a response to inequality in the markets they control. In this paper, we examine the optimal structure of such policies from the perspective of mechanism design. We study a buyer-seller market in which agents have private...
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Keywords:
Optimal Mechanism Design;
Redistribution;
Inequality;
Welfare Theorems;
Market Design;
Equality and Inequality
Dworczak, Piotr, Scott Duke Kominers, and Mohammad Akbarpour. "Redistribution through Markets." Econometrica 89, no. 4 (July 2021): 1665–1698. (Authors' names are in certified random order.)
- July 2021
- Article
The Effect of Price on Firm Reputation
By: Michael Luca and Oren Reshef
While a business's reputation can affect its pricing, prices can also affect its reputation. To explore the effect of prices on reputation, we investigate daily data on menu prices and online ratings from a large rating and ordering platform. We find that a price...
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Keywords:
Pricing;
Reputation Systems;
IT Policy And Management;
Economics Of Digital Platforms;
Business Ventures;
Reputation;
Price;
Consumer Behavior;
Analysis
Luca, Michael, and Oren Reshef. "The Effect of Price on Firm Reputation." Management Science 67, no. 7 (July 2021): 4408–4419.
- Article
Biosimilars and Follow-On Products in the United States: Adoption, Prices, and Users
By: Ariel Dora Stern, Jacqueline L. Chen, Melissa Ouellet, Mark R. Trusheim, Zeid El-Kilani, Amber Jessup and Ernst R. Berndt
Biologic drugs account for a disproportionate share of the increase in pharmaceutical spending in the U.S. and worldwide. Against this backdrop, many look to the expanding market for biosimilars—follow-on products to biologic drugs—as a vehicle for controlling...
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Keywords:
Pharmaceuticals;
Drug Spending;
Drug Pricing;
Health Care and Treatment;
Spending;
Price;
Markets;
Cost Management;
United States
Stern, Ariel Dora, Jacqueline L. Chen, Melissa Ouellet, Mark R. Trusheim, Zeid El-Kilani, Amber Jessup, and Ernst R. Berndt. "Biosimilars and Follow-On Products in the United States: Adoption, Prices, and Users." Health Affairs 40, no. 6 (June 2021): 989–999.
- 2021
- Working Paper
Which Markets (Don't) Drive Pharmaceutical Innovation? Evidence From U.S. Medicaid Expansions
By: Craig Garthwaite, Rebecca Sachs and Ariel Dora Stern
Pharmaceutical innovation policy involves managing a tradeoff between high prices for new products in the short-term and stronger incentives to develop products for the future. Prior research has documented a causal relationship between market size and pharmaceutical...
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Keywords:
Pharmaceuticals;
Medicaid;
Innovation and Invention;
Policy;
Markets;
Research and Development;
Pharmaceutical Industry
Garthwaite, Craig, Rebecca Sachs, and Ariel Dora Stern. "Which Markets (Don't) Drive Pharmaceutical Innovation? Evidence From U.S. Medicaid Expansions." NBER Working Paper Series, No. 28755, May 2021.
- Article
Tariff Passthrough at the Border and at the Store: Evidence from U.S. Trade Policy
By: Alberto Cavallo, Gita Gopinath, Brent Neiman and Jenny Tang
We use micro data collected at the border and the store to characterize the price impact of recent US trade policy on importers, exporters, and consumers. At the border, import tariff passthrough is much higher than exchange rate passthrough. Chinese exporters did not...
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Keywords:
Trade Policy;
Tariffs;
Exchange Rate Passthrough;
Economics;
Trade;
Policy;
Currency Exchange Rate;
Price;
United States
Cavallo, Alberto, Gita Gopinath, Brent Neiman, and Jenny Tang. "Tariff Passthrough at the Border and at the Store: Evidence from U.S. Trade Policy." American Economic Review: Insights 3, no. 1 (March 2021).
- February 2021 (Revised May 2021)
- Case
SafeGraph: Selling Data as a Service
By: Ramana Nanda, Abhishek Nagaraj and Allison Ciechanover
Set in January 2021, the CEO of SafeGraph, a four-year-old startup that sold Data as a Service, looked to the future. His aim was to become the most trusted source for data about a physical place. The company provided points of interest (POI) and foot traffic data on...
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Keywords:
Data As A Service;
Monetization;
Pricing;
Business Startups;
Analytics and Data Science;
Consumer Behavior;
Analysis;
Business Model;
Health Pandemics;
Information Industry;
United States
Nanda, Ramana, Abhishek Nagaraj, and Allison Ciechanover. "SafeGraph: Selling Data as a Service." Harvard Business School Case 821-082, February 2021. (Revised May 2021.)