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One widely-reported prediction is that the availability of low-cost information on price, specifically the rise of comparison shopping agents, will lead all Internet retailers to charge the same price for mass-produced physical goods and that price will be approximately cost. This prediction is, however, in tension with another prediction – that firms(More)
Many important economic questions hinge on the extent to which new goods either crowd out or complement consumption of existing products. Recent methods for studying new goods rule out complementarity by assumption, so their applicability to these questions has been limited. I develop a new model that relaxes this restriction, and use it to study(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)
P (P2P) file sharing networks are an important medium for the distribution of information goods. However, there is little empirical research into the optimal design of these networks under real-world conditions. Early speculation about the behavior of P2P networks has focused on the role that positive network externalities play in improving performance as(More)
Adaptation is the only strategy that is guaranteed to be part of the world's climate strategy. Using the most comprehensive set of data files ever compiled on mortality and its determinants over the course of the 20 century, this paper makes two primary discoveries. First, we find that the mortality effect of an extremely hot day declined by about 80%(More)
A primary tool that consumers have for comparative shopping are shopbots, which is short for shopping robots. These shopbots automatically search a large number of vendors for price and availability. Typically a shopbot searches a predefined set of vendors and reports all results. This can result in time consuming searches that provide redundant or(More)
Peer-to-peer file sharing networks are becoming an important medium for the distribution of information goods. However, there is little academic research into the optimal design of these networks under real-world conditions. Our research represents an initial effort to analyze the impact of positive and negative network externalities on the optimal size of(More)
The kinetics of volume increase in individual cells of Schizosaccharomyces pombe were determined by phase microscopy at osmolalities lower than those reported in the literature. At the highest osmolality, 550 mmol/kg, all cells followed a biphasic pattern of growth, in which cell volumes increased to their maximum values approximately four-fifths of the way(More)
This study highlights the substantial impact of industrial pollution on mortality in 19th century Britain. To overcome a lack of direct pollution measures, I combined data on the local composition of industries with information on industry pollution intensity. I document a clear relationship between industrial pollution and mortality using data for 580(More)