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We show that the prevalence of prolonged tennis contests drops sharply when the ambient environment deteriorates through heat or pollution. We develop a multi‐battle dynamic model to investigate how the disutility from a protracted competition shapes agents' willingness to fight on. Our theory...
We investigate how platform market power affects platforms' design choices in ad‐funded two‐sided markets, where platforms may find it optimal to charge zero price on the consumer side and extract surplus on the advertising side. We consider design choices affecting both sides in opposite ways...
I develop a multiproduct nonlinear pricing model where a firm sells both discrete and continuous services to consumers with multidimensional heterogeneity. I derive the optimal selling mechanism and provide primitive conditions under which different bundling strategies arise. Exploiting both the...
This article establishes a tenuous link between ability and relative well‐being in teamwork. It shows that higher‐ability or lower‐cost members can easily fare worse than their lower‐ability counterparts due to free‐riding. The extent of free‐riding hinges crucially on log‐concavity of effort...
We investigate the role of sellers' commitment power in discouraging consumer search. Theoretically, lack of commitment power transforms sellers' search‐deterring claims into cheap talk, eliminating sellers' ability to deter search in some market environments. However, our experiments show...
Agents, some with a bias, decide between undertaking a risky project and a safe alternative based on information about the project's efficiency. Only a part of that information is verifiable. Unbiased agents want to undertake only efficient projects, but biased agents want to undertake any...
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