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26 Feb 2008
First Look

First Look: February 26, 2008

wealth is observed, the effect of higher wealth on equilibrium bribes is ambiguous (and that the political class will exhibit lower variance in consumption than the general population). In settings where formal contracts matter, we show... View Details

Keywords: Martha Lagace

24 Feb 2014
Research & Ideas

Busting Six Myths About Customer Loyalty Programs

competitive move would probably trigger retaliation from the attacked retailer, who would subsequently try to steal the focal retailer's loyal shoppers. It can easily be seen that such a strategy would punish all players, except the shopper. The condition for a... View Details

Keywords: by Marcel Corstjens & Rajiv Lal; Retail; Consumer Products

20 Feb 2008
First Look

First Look: February 20, 2008

workers by posting vacancies. Firms act monopsonistically and set wages to retain their existing workers as well as to attract new ones. The model differs from Burdett and Mortensen (1998) in that its assumptions ensure that there is an View Details

Keywords: Martha Lagace

10 Mar 2009
First Look

First Look: March 10, 2009

Wages and Unemployment in a Matching Model with Monopsony Author: Julio J. Rotemberg Publication: Supplement. Journal of Monetary Economics 55 (October 2008): 97-110 Abstract A monopsony model with a symmetric equilibrium is developed... View Details

Keywords: Martha Lagace