Not So Demanding: Demand Structure and Firm Behavior

DEMAND STRUCTURE AND FIRM BEHAVIOR 1 Not so Demanding : Demand Structure and Firm Behavior

Not so Demanding: Preference Structure, Firm Behavior, and Welfare∗

We introduce a new perspective on how assumptions about preferences and demand affect firm behavior and economic performance. Our key innovation is the “Demand Manifold,” which links the elasticity and convexity of an arbitrary demand function. We show that it is a sufficient statistic for many comparative statics questions, leads naturally to some new families of demand functions, and relates ...

Sinonasal Teratocarcinosarcoma- A Rare Tumour not so Rarely Misdiagnosed

Sinonasal teratocarcinosarcoma (STCS) is a rare, morphologically heterogeneous and highly aggressive tumour of ambiguous origin. It is characterized by the presence of benign and malignant epithelial, mesenchymal and neuroectodermal components. Because of their rarity and heterogeneity, these lesions are often misdiagnosed, leading to management difficulties. Adequate sampling with a high index...

Clicks, Discontinuities, and Firm Demand Online

The market values of online platforms, such as Yahoo, stem from their ability to monetize the clicks they generate for firms advertising on their sites. We exploit a unique dataset on clicks from one of Yahoo’s price comparison sites to estimate the determinants of clicks received by online retailers. We find that a firm enjoys a 60% jump in its clicks when it offers the lowest price at the sit...

How Demanding Is the Revealed Preference Approach to Demand?

A well known problem with revealed preference methods is that when data are found to satisfy their restrictions it is hard to know whether this should be viewed as a triumph for economic theory, or a warning that these conditions are so undemanding that almost anything goes. This paper allows researchers to make this distinction. Our approach builds on theoretical support in the form of an axio...