Ticket markets raise a large variety of pricing questions that are of substantial interest for theoretical economists. They also offer a unique laboratory experiment for empiricists because they exhibit rich sources of price variations. Prices vary because seats are different, because seats are located in different places, because performances take place on different dates, because venues offer...

This research project focused on factors influencing consumers’ purchasing behavior. Specifically, the project focused on sustainability of packaging and attempted to find if sustainability of a package (represented by post-consumer content) affected a consumer’s decision to buy that product. The specific question asked was: “Are consumers willing to purchase a product based on the environmenta...

58. Sustainable development goes beyond a static framework of correcting environmental externalities , deficient markets and inadequate property rights. It is very much concerned with the availability of environmental and natural resources in the future. The problem may be particularly acute in developing countries that have high discount rates due to the scarcity of capital and prevalence of p...

This paper studies maximin paths in the context of a standard exhaustible resource model. Under the assumption that the resource is important in production, it establishes the efficiency and uniqueness of non-trivial maximin paths. It uses these results to study the nature of the maximin value and policy functions. The value function is shown to be differentiable with respect to the initial res...

The extensive adoption of uniform pricing for branded variants is a puzzling phenomenon considering that firms may improve profitability through price discrimination. In the paper, we incorporate consumers' concerns of price fairness into a model of price competition and show that uniform price for branded variants may emerge in equilibrium. Interestingly, we find that uniform pricing induced b...

Constant shadow prices indicate that gains in expected votes with respect to marginal shifts in transfers should be equal across jurisdictions. The ratio of the scalars (λ/μ) holds constant, while exhausting the budget, only if each party promises the same amount to any given jurisdiction (taj = tbj = Yj ∀ j). Voter consumption is thus identical under either party and implies tj = 0. By the tra...

Empirical studies on pharmaceutical pricing across countries have found evidence that prices vary according to per capita income. These studies are typically based on survey data from a subset of countries and cover only one year. In this paper, we study the international trade and price of insulin by using detailed trade data for 186 importing countries from 1995 to 2013. With almost 12,000 ob...

In this paper, we study the problem of online pricing for multi-type items. Given a seller with k types of items where the amount of each type is m, a sequence of users {u1, u2, ...} arrive one by one. Each user is single-minded, i.e., each user is only interested in a particular bundle of items. The seller must set the unit price and assign some amount of bundles to each user upon his/her arri...