We study how a monopolist’s use of consumer data for price discrimination affects welfare. To answer this question, we develop a model of market segmentation subject to residual uncertainty. We fully ...

Does ambiguity (Knightian uncertainty) or risk provide a greater discouragement to investment? There is general agreement in the financial press that uncertainty discourages investment, with ...

Mutual funds create liquidity for investors by issuing demandable equity shares while holding illiquid securities. We study the implications of this liquidity creation by examining frequent trading ...

Climate change is already increasing temperatures and raising the frequency of natural disasters in the United States. In this paper, we examine several major vectors through which climate change ...

Responses to surveys eliciting evaluations of trust in government, both generally and in specific areas, have varied over time and across countries. Using consistent survey data for 34 OECD countries ...

We compare the lending technology of direct lenders, banks, and finance companies using a unique data set on secured borrowing by the universe of U.S.-based private middle market firms. The borrowers ...

We conclude that the DEU methodology and data, as they are described in the article, do not support the conclusion that broad-based increases in market power have occurred in recent decades. This ...

We estimate and compare impacts of cash and in-kind transfers on the consumption of temptation goods in the same population, and explore normative implications. We use two decades of data from South ...

We study the logic of state surveillance using the first complete individual-level database of those monitored by a state — 152,000 Italians born between 1816 and 1932, encompassing both democratic ...

This paper examines a large-scale randomized evaluation of the One Laptop Per Child (OLPC) program in 531 Peruvian rural primary schools. We use administrative data on academic performance and grade ...

We use high-frequency retail microdata to measure the short-run impact of the 2025 U.S. tariffs on consumer prices. By matching daily prices from major U.S. retailers to product-level tariff rates and ...

We construct representative security-fund-level longitudinal data for the United States using regulatory filings of portfolio holdings from Form N-PORT. We validate our dataset by comparing coverage ...