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- All HBS Web (33)
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- 10 May 2019
- Working Paper Summaries
Consumer Inertia and Market Power
Keywords: by Alexander MacKay and Marc Remer
- 23 Jan 2018
- Working Paper Summaries
Transaction Costs and the Duration of Contracts
Keywords: by Alexander MacKay
- 03 Feb 2020
- Working Paper Summaries
Competition in Pricing Algorithms
Keywords: by Zach Y. Brown and Alexander MacKay
- 26 Nov 2018
- Working Paper Summaries
Demand Estimation in Models of Imperfect Competition
Keywords: by Alexander MacKay and Nathan H. Miller
- 17 May 2022
- News
Robert F. Lanzillotti Prize for Assistant Professor Alex MacKay
- 05 Jun 2019
- Research & Ideas
If Your Customers Don't Care What You Charge, What Should You Charge?
effects of competition have an advantage within their markets, says Alexander J. MacKay, assistant professor of business administration at Harvard Business School, who coauthored the study Consumer Inertia View Details
- 09 Mar 2020
- Research & Ideas
Warring Algorithms Could Be Driving Up Consumer Prices
developed by the company’s marketers and strategists. “They want to react to changing demand and supply conditions,” says study author Alexander... View Details
- 05 May 2022
- Research & Ideas
Why Companies Raise Their Prices: Because They Can
much as they did." Instead, markups—the difference between prices charged at checkout and the marginal costs incurred by a company in order to make a product—climbed about 25 percent between 2006 View Details
Keywords: by Rachel Layne
- 08 Dec 2020
- Cold Call Podcast
Uber's Strategy for Global Success
- 01 Apr 2024
- In Practice
Navigating the Mood of Customers Weary of Price Hikes
FTC is sending a strong signal that it is paying close attention to grocery store prices. Executives should be weighing this regulatory attention when considering prices over the years ahead. Alexander View Details
- 2022
- Article
Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response
By: Alexander MacKay and Samuel N. Weinstein
Pricing algorithms are rapidly transforming markets, from ride-sharing apps, to air travel, to online retail. Regulators and scholars have watched this development with a wary eye. Their focus so far has been on the potential for pricing algorithms to facilitate... View Details
Keywords: Competition Policy; Regulation; Algorithmic Pricing; Dynamic Pricing; Economics; Law And Economics; Law And Regulation; Consumer Protection; Antitrust Law; Industrial Organization; Antitrust Issues And Policies; Technological Change: Choices And Consequences; Competition; Policy; Price; Governing Rules, Regulations, and Reforms; Microeconomics; Duopoly and Oligopoly; Law
MacKay, Alexander, and Samuel N. Weinstein. "Dynamic Pricing Algorithms, Consumer Harm, and Regulatory Response." Washington University Law Review 100, no. 1 (2022): 111–174. (Direct download.)
- 2024
- Working Paper
Consumer Inertia and Market Power
By: Alexander MacKay and Marc Remer
We study the pricing decisions of firms in the presence of consumer inertia. Inertia, which can arise from habit formation, brand loyalty, and switching costs, generates dynamic pricing incentives. These incentives mediate the impact of competition on market power in... View Details
Keywords: Consumer Inertia; Market Power; Dynamic Competition; Demand Estimation; Consumer Behavior; Markets; Performance; Competition; Price
MacKay, Alexander, and Marc Remer. "Consumer Inertia and Market Power." Harvard Business School Working Paper, No. 19-111, April 2019. (Revised January 2024. Direct download.)
- 27 Apr 2021
- Research & Ideas
New Research: Surviving Bankruptcy, Useful Economics, and Retirement
workplace. Across six studies, we found convergent evidence that emotional acknowledgment led to greater perceptions of costliness, and in turn, to higher evaluations of trust.” Working Papers Deregulation, Market Power, View Details
- 2020
- Working Paper
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and... View Details
Keywords: Vertical Relationships; Transaction Costs; Contract Duration; Identification; Supply Chain; Cost; Contracts; Auctions; Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." Harvard Business School Working Paper, No. 18-058, December 2017. (Revised May 2020. Direct download.)
- August 2022
- Article
Contract Duration and the Costs of Market Transactions
By: Alexander MacKay
The optimal duration of a supply contract balances the costs of reselecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tradeoff and... View Details
Keywords: Supply Contracts; Intermediate Goods; Switching Costs; Vertical Relationships; Transaction Costs; Contract Duration; Identification; Supply Chain; Cost; Contracts; Auctions; Mathematical Methods
MacKay, Alexander. "Contract Duration and the Costs of Market Transactions." American Economic Journal: Microeconomics 14, no. 3 (August 2022): 164–212.
- March 2017
- Article
Challenges for Empirical Research on RPM
By: Alexander MacKay and David A. Smith
This article discusses the empirical challenges that researchers face when demonstrating the existence and effects of resale price maintenance (RPM). We outline three approaches for finding price effects of RPM and the corresponding hurdles in data and methodology. We... View Details
Keywords: Antitrust Issues And Policies; Antitrust Law; Resale Price Maintenance; Welfare Economics; Price; Competition; Research
MacKay, Alexander, and David A. Smith. "Challenges for Empirical Research on RPM." Review of Industrial Organization 50, no. 2 (March 2017): 209–220.
- 2024
- Working Paper
What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences
By: Mark Egan, Alexander MacKay and Hanbin Yang
We present an empirical model of portfolio choice that allows for the nonparametric estimation of investors' (subjective) expectations and risk preferences. Utilizing a comprehensive dataset of 401(k) plans from 2009 through 2019, we explore heterogeneity in asset... View Details
Keywords: Stock Market Expectations; Demand Estimation; Retirement Planning; Defined Contribution Retirement Plan; 401 (K); Finance; Investment Portfolio; Investment; Retirement; Behavioral Finance; Financial Services Industry; United States
Egan, Mark, Alexander MacKay, and Hanbin Yang. "What Drives Variation in Investor Portfolios? Estimating the Roles of Beliefs and Risk Preferences." Harvard Business School Working Paper, No. 22-044, December 2021. (Revisions Requested at the Review of Financial Studies. Revised April 2024. Direct download. NBER Working Paper Series, No. 29604, December 2021)
- Web
Business Economics - Doctoral
lens of business. Jointly administered by HBS and the Department of Economics in the Faculty of Arts and Sciences, the program combines theoretical analysis with in-depth,... View Details
- Web
Placement - Doctoral
studies, are uniquely individualized. Factors like departmental fit, location preferences, dual career choices, and family needs shape these decisions. We celebrate when students secure a position that brings them joy! Students are... View Details