We predict and find that accounting restatements induce economically meaningful share price declines among non-restatement firms in the same industry. These price declines are most pronounced among non-restatement firms with low accounting quality, as measured by industry adjusted accruals. Our results are consistent with the notion that accounting restatements cause investors to reassess the c...

As economists use the term, price discrimination means charging some buyers more than others for essentially the same product or service. Is it a bad thing? Buyers paying the higher prices understandably resent the practice. They might thus be surprised to learn that it often enables them to enjoy both lower prices and higher quality than would be possible if sellers charged the same price to e...

Since 1970, the share of income spent on housing grew along with incomes and the relative price of housing. This rising share is consistent with housing being a necessity when demand is sufficiently price inelastic. We estimate housing demand parameters using compensated and uncompensated frameworks over space and time, testing restrictions imposed by demand theory and household mobility. Estim...

What does the demand for pharmaceuticals look like? How effectively does a price cut control pharmaceutical expenditure? To shed light on these questions, I estimate the demand for antihypertensive drugs in Korea (2003-2007) using NLM. The estimation results are following. 1) Physicians are not sensitive to price differences and the price elasticity of the original drugs is further reduced afte...

it is very important to analyze the rice market structure in mazandaran province, as this province is competent to produce rice. mazandaran rice market was analyzed by completing 55 questionnaires in producer, wholesaler and retailers level, randomly in 2009. results show that marketing margins of two varieties namely- local (tarom) and multi-product- were 5850 and 3700 rials, respectively; als...