The tremendous growth of digital transactions has profoundly affected the way we interact, opening vast opportunities to improve our lives. Consumers have benefited from an unprecedented proliferation of new services and products that previously were simply too costly to be developed and marketed to customers. These digital interactions create vast amounts of data. While firms are already using...
Abstract: User generated content is increasingly substituting content created by professionals. Local news that is generated by citizen journalists could be a promising way of supporting the struggling newspaper industry by reducing costs for professional journalists. We study a network of 122 local Austrian newspapers operating a hybrid model of citizen and professional journalism. We first...
The Virtual Digital Economy Seminar (VIDE) features current research projects by prominent researchers worldwide via video conference. Hannes Ullrich from the Firms and Markets Department is among the co-organizers of this open online international and inter-institutional seminar on the digital economy.All seminars are on Thursdays at 8:00am Los Angeles - 11:00am New York - 4:00pm London - 5:00pm ...
This is an online seminar using Webex. You will receive the login data with the invitation to the talk. Abstract: In the last ten years, Google, Apple, Facebook, Amazon, and Microsoft (GAFAM) acquired more than 400 companies, predominantly in the technological sector. Competition authorities did not scrutinize most of these transactions, as they did not reach the traditional thresholds,...
We study repayment and delinquency in an innovative loan contract that offers borrowers a wide range of flexibility. Using a large administrative dataset, we perform unsupervised pattern analysis to study how borrowers repay within the framework of this loan. We identify eight clusters that can be grouped into three distinct repayment types. We show that borrowers with fluctuating incomes and limited ...
I assert that air pollution from nitrogen oxides affects the productivity of employees in Mexican court hearings. This is the first article analyzing this connection and the first to disentangle work-breaks from the productivity of white-collar workers. I merge hourly pollution with granular hearing data under the assumption that the length of the hearing approximates productivity and identify causality ...
The rise of dominant firms in data driven industries is often credited to their alleged data advantage. Empirical evidence lending support to this conjecture is surprisingly scarce. In this paper we document that data as an input into machine learning tasks display features that support the claim of data being a source of market power. We study how data on keywords improve the search result quality ...
There is ample empirical literature centering on the effectiveness of foreign exchange intervention (FXI). Given the mix of objectives and country-heterogeneity, the general lack of consensus thus far is no surprise. We shed light on this debate by conducting the first comprehensive meta-analysis in the FXI literature, with 279 reported effects that stem from 74 distinct empirical studies. We cover ...
In online commerce, obfuscation strategies by sellers are hypothesized to mislead consumers to their detriment and to the profit of sellers. One such obfuscation strategy is partitioned pricing in which the price is split into a base price and add-on fees. While empirical evidence suggests that partitioned pricing affects consumer decisions through salience effects, its consumer welfare consequences ...
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