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- May–June 2025
- Article
Algorithmic Assortment Curation: An Empirical Study of Buybox in Online Marketplaces
By: Santiago Gallino, Nil Karacaoglu and Antonio Moreno
Most online sales worldwide take place in marketplaces that connect sellers and buyers. The presence of numerous third-party sellers leads to a proliferation of listings for each product, making it difficult for customers to choose between the available options. Online... View Details
- Summer 2025
- Article
Dynamic Competition for Customer Memberships
By: Cristian Chica, Julian Jimenez-Cardenas and Jorge Tamayo
A competitive two-period membership (subscription) market is analyzed. Two symmetric firms charge a “membership” fee that allows consumers to buy products or services at a given unit price for both periods. Firms can choose between long- or short-term memberships. When... View Details
- 2025
- Working Paper
An Empirical Examination of Business Climate Alliances: Effective and/or Harmful?
By: Matteo Gasparini and Peter Tufano
This research studies business alliances that seek to address climate change, offering empirical evidence to address claims advanced by alliance supporters and critics. We study eleven major alliances mostly focused on financial services firms and 424 major... View Details
Keywords: Antitrust; Climate Change; Financial Institutions; Competition; Network Effects; Alliances
- 2025
- Working Paper
The Limits of Insurance Demand and the Growing Protection Gap
By: Parinitha Sastry, Tess Scharlemann, Ishita Sen and Ana-Maria Tenekedjieva
In a world with rising risk, how much are U.S. households willing to pay for homeowners insurance, and what does their demand imply for the future of insurance markets? We provide the first estimates of household willingness to pay for homeowners insurance and the... View Details
- April 2025
- Case
Breezm: Innovative 3D-Printed Eyewear (A)
By: Juan Alcácer, Brian Mao Fu and Adina Wong
In 2023, Breezm, a South Korean startup, faced a strategic decision about how to grow its innovative 3D-printed, custom-fit eyewear business. Co-founded in 2017 by Zenma Park and Wooseok Sung, Breezm combined facial scanning, AI, and in-house production to solve the... View Details
- 2025
- Working Paper
Tracking the Short-Run Price Impact of U.S. Tariffs
By: Alberto Cavallo, Paola Llamas and Franco Vazquez
This paper examines the short-run impact of the 2025 U.S. tariffs on consumer prices using a unique integration of high-frequency retail pricing data, product-level country-of-origin information, and detailed tariff classifications. By linking daily prices from major... View Details
- January 2025 (Revised April 2025)
- Case
Less Is More: Will Aldi's Expansion Plans Pay Off in a Crowded U.S. Grocery Market?
By: David Collis and Haisley Wert
In 2024, the discount grocery retailer Aldi announced bold U.S. expansion plans. Within five years, the German company would increase its store count by 30% to reach 3,200+ stores across the United States and approach becoming the fifth largest grocery retailer in the... View Details
- November 2024
- Case
Fyffes International SA
By: David E. Bell, Damien McLoughlin and Tonia Labruyère
Helge Sparsoe, CEO of Fyffes since 2020, had taken the tropical produce importer and distributor back to a path of stable level of profitability since he joined in 2020. He was now thinking about next steps for the business, which mainly traded in bananas. He was... View Details
Keywords: Plant-Based Agribusiness; Change Management; Environmental Sustainability; Brands and Branding; Demand and Consumers; Supply Chain; Competition; Price; Value Creation; Agriculture and Agribusiness Industry; Food and Beverage Industry; Switzerland; United Kingdom; Republic of Ireland; Colombia; Guatemala; Costa Rica; Ecuador
- November 2024
- Article
Price Discounts and Cheapflation During the Post-Pandemic Inflation Surge
By: Alberto Cavallo and Oleksiy Kryvtsov
We study how within-store price variation changes with inflation, and whether households exploit it to attenuate the inflation burden. We use micro price data for food products sold by 91 large multi-channel retailers in ten countries between 2018 and 2024. Measuring... View Details
- 2024
- Article
Supply and Demand and the Term Structure of Interest Rates
By: Robin Greenwood, Samuel Hanson and Dimitri Vayanos
We survey the growing literature emphasizing the role that supply-and-demand forces play in shaping the term structure of interest rates. Our starting point is the Vayanos and Vila (2009, 2021) model of the term structure of default-free bond yields, which we present... View Details
- July 2024 (Revised January 2025)
- Case
Dynamic Pricing at Wendy's: Where's the Beef?
By: Elie Ofek, Alicia Dadlani and Martha Hostetter
In early 2024, Wendy’s new CEO announced on an earnings call that the company would install digital menus in its US locations so it could begin testing dynamic pricing—changing prices up or down in response to shifts in supply and demand – as well as allow engaging in... View Details
- June 2024
- Article
Inflation with COVID Consumption Baskets
By: Alberto Cavallo
The Covid-19 pandemic led to changes in expenditure patterns that introduced significant bias in the measurement of Consumer Price Index (CPI) inflation. Using publicly-available data on card transactions, I updated the official CPI weights and re-calculated inflation... View Details
- June 2024
- Article
Information Spillovers in Experience Goods Competition
By: Zhuoqiong Charlie Chen, Christopher Stanton and Catherine Thomas
When experience goods compete, consuming one product can be informative about value for similar untried products. We study a two-period model of duopoly competition in markets that have this feature and where firms can price discriminate between consumers based on... View Details
- May 2024
- Case
Naked Wines: The Profit vs. Growth Decision
By: Benjamin C. Esty and Edward A. Meyer
Nick Devlin faced a difficult strategic decision in October 2022. As the CEO of a UK-based subscription business connecting wine drinkers in the US, UK, and Australia with winemakers from around the world (which one journalist called the “Netflix of Wine”), he had to... View Details
Keywords: Profit Vs. Growth; Platform Business; Economies Of Scale; Subscription Business; Wine; Scaling; Racing; Value Creation; Network Effects; Business Startups; Small Business; Financial Management; Financial Strategy; Growth Management; Business Strategy; Competitive Advantage; Expansion; Profit; E-commerce; Growth and Development Strategy; Agriculture and Agribusiness Industry; Food and Beverage Industry; United States; Australia; United Kingdom
- April 8, 2024
- Article
Loyalty Programs May Limit Competition, and They Could Be Pushing Prices up for Everyone
By: Alexandru Nichifor and Scott Duke Kominers
- April 2024
- Article
Pay-As-You-Go Insurance: Experimental Evidence on Consumer Demand and Behavior
By: Raymond Kluender
Pay-as-you-go contracts reduce minimum purchase requirements which may increase market participation. We randomize the introduction and price(s) of a novel pay-as-you-go contract to the California auto insurance market where 17 percent of drivers are uninsured. The... View Details
- March 2024 (Revised May 2024)
- Case
Amperity: First-Party Data at a Crossroads
By: Elie Ofek, Hema Yoganarasimhan and Alexis Lefort
In the summer of 2023, Amperity management was facing a critical decision on its future direction. Given the dramatic changes occurring within the digital advertising ecosystem, as concerns over consumer privacy placed limits on the ability to engage in third-party... View Details
- February 2024
- Case
Tabby: Winning Consumers' Digital Wallets
By: Eva Ascarza and Fares Khrais
Hosam Arab (MBA 2009), cofounder and CEO of Tabby, a Saudi-based fintech startup, raised its Series D funding round in October 2023, four years after its inception, valuing it as a regional unicorn. Tabby's core product, a buy-now-pay-later (BNPL) service, allowed... View Details
- February 2024
- Article
Pricing Power in Advertising Markets: Theory and Evidence
By: Matthew Gentzkow, Jesse M. Shapiro, Frank Yang and Ali Yurukoglu
Existing theories of media competition imply that advertisers will pay a lower price in equilibrium to reach consumers who multi-home across competing outlets. We generalize, extend, and test this prediction. We find that television outlets whose viewers watch more... View Details
- January 2024
- Article
Dog Eat Dog: Balancing Network Effects and Differentiation in a Digital Platform Merger
By: Chiara Farronato, Jessica Fong and Andrey Fradkin
Digital platforms are increasingly the subject of regulatory scrutiny. In comparison to multiple competitors, a single platform may increase consumer welfare if network effects are large or may decrease welfare due to higher prices or reduction in platform variety. We... View Details