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This paper examines 4 million price observations over an eight month time period for 1000 of the best-selling consumer electronics products found on the price comparison site Shopper.com. We find that observed levels of price dispersion vary systematically with the number of firms listing price quotes for a given product. For example, for products where(More)
This study develops theory and uses a door-to-door fund-raising field experiment to explore the economics of charity. We approached nearly 5000 households, randomly divided into four experimental treatments, to shed light on key issues on the demand side of charitable fund-raising. Empirical results are in line with our theory: in gross terms, the lotteries(More)
We reexamine the major tenets of the informational theory of legislative rules, focusing on the informational efficiency of rules with varying degrees of restrictiveness. When committees are heterogeneous, full efficiency is attainable under the unrestrictive open rule as well as the somewhat restrictive modiÞed rule. In contrast, the restrictive closed(More)
We provide a uni…ed treatment of alternative models of information acquisition/transmission that have been advanced to rationalize price dispersion in online and o-ine markets for homogeneous products. These di¤erent frameworks— which include sequential search, …xed sample search, and clearinghouse models— reveal that reductions in (or the elimination of)(More)
We describe procedures and experimental results using speech from diverse source languages to build an ASR system for a single target language. This work is intended to improve ASR in languages for which large amounts of training data are not available. We have developed both knowledge based and automatic methods to map phonetic units from the source(More)
Timing is crucial in situations ranging from currency attacks, to product introductions, to starting a revolution. These settings share the feature that payoffs depend critically on the timing of a few other key players—and their moves are uncertain. To capture this, we introduce the notion of clock games and experimentally test them. Each player's clock(More)
We study a model in which two perfectly informed experts offer advice to a decision maker whose actions affect the welfare of all. Experts are biased and thus may wish to pull the decision maker in different directions and to different degrees. When the decision maker consults only a single expert, the expert withholds substantial information from the(More)