Francisco Ruiz-Aliseda

Learn More
I present a model to assess the extent to which recommender systems can account for the 'long tail', an increase in the tail of the sales distribution. Consumers face a search problem within a pool of horizontally di¤erentiated products supplied by a monopolist. They are endowed with a taste pro…le that determines their probability of matching with any(More)
INSEAD, and he would like to thank all the members of this institution for their hospitality during his stay, as well as for financial support for his research. Casadesus-Masanell is grateful to the HBS Division of Research. We gratefully acknowledge financial support from the NET Institute ( and the Abstract Katz and Shapiro (1985) study(More)
How does renegotiation affect contracts between a principal and an agent subject to persistent private information and moral hazard? This paper introduces a concept of renegotiation-proofness, which adapts to stochastic games the concepts of weak renegotiation-proofness and internal consistency by exploiting natural comparisons across states. When the agent(More)
We study centralized many-to-many matching in markets where agents have private information about (vertical) characteristics that determine match values. Our analysis reveals how matching patterns reflect cross-subsidization between sides. Agents are endogenously partitioned into consumers and inputs. At the optimum, the costs of procuring agents-inputs are(More)
We study second-degree price discrimination in markets where the product traded by the monopolist is access to other agents. We derive necessary and sufficient conditions for the welfare-and the profit-maximizing mechanisms to employ a single network or a menu of non-exclusive networks. We characterize the optimal matching schedules under a wide range of(More)
This paper presents a game of timing in a real options framework in which two ex ante identical firms can choose large or small capacities and the date of entry into a new industry whose demand grows until an unknown maturity date, after which it declines until it disappears. Previous literature usually predicts that the Stackelberg leader, whether(More)
A large portion of innovators do not patent their inventions. This is a relative puzzle since innovators are often perceived to be at the mercy of imitators in the absence of legal protection. In practice, innovators however invest actively in making their products technologically hard to reverse-engineer. We consider the dynamics of imitation and(More)
The real options literature has provided new insights on how to manage irreversible capital investments whose payoffs are always uncertain. Two of the most important predictions from such theory are: (i) greater risk delays a firm's investment timing, and (ii) greater risk increases the option value of waiting. This paper challenges such conclusions in a(More)
Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract We study the effect of different levels of information on two-sided platform profits— under monopoly and(More)
How do successive, forward-looking agents experiment with interdependent and en-dogenous technologies? In this paper, trying a radically new technology is not only informative about the value of similar technologies, but also reduces the cost of experimenting with them, in effect expanding the space of feasible technologies. Successful radical(More)