【AEW Webinar】Consumer Demand and Firm Pricing: Lessons from a Large-Scale Natural Field Experiment

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• 研討會日期 : 2024-11-21
• 時間 : 08:30
• 主講人 : Professor Magne Mogstad
• 地點 : Register and join online
• 演講者簡介 : Professor Magne Mogstad received his Ph.D. in Economics from the University of Oslo in 2008. He is the Gary S. Becker Distinguished Service Professor in Economics at the University of Chicago. His research interests are Public Economics, Labor Economics, and Policy Evaluation.
• 演講摘要 : We study consumer demand and firm pricing using data on exogenous price variation from a large-scale field experiment. The data comes from a US retailer selling hundreds of product categories across thousands of physical locations. We begin by documenting how consumer demand responds to exogenous changes in prices. Motivated and guided by this experimental evidence, we examine how researchers should model consumer demand. A key advantage of our data is that we have multiple exogenous price levels per product. This allows us both to consistently estimate various models of consumer demand using exogenous price increases, and to credibly assess the ability of the estimated models to predict the quantity and revenue impacts of decreasing prices. We conclude with an analysis of how the choice of consumer demand model affects conclusions about the firm's pricing decisions.
• Working Paper Title : Sibling Spillovers on Flagship University Admission by Gender
• Working Paper Speaker : Ms. Eva Sih-Yu Chi
• Working Paper Biography : Ms. Eva Sih-Yu Chi is a first-year PhD student at Washington University in St. Louis.
• Working Paper Abstract : We use administrative data from Taiwan, where university admission primarily relied on a national entrance exam, to investigate sibling spillovers on the admission to the flagship university and explore the potential mechanisms that deliver the within-family influences. Using an RD design, we find that having an older sibling being admitted to the flagship university increases the probability of admission to the same university by 151 percent. The spillover effect was highly concentrated between brothers, a finding consistent with the hypothesis that sibling competition is more intense between brothers than other sibling gender dyads. The estimated spillovers operated through young brothers achieving higher scores in the entrance exam (a performance effect), as well as lifting the ranking of the flagship university in their applications (a preference effect). Our findings suggest that simply a signal of high academic achievement, while holding scores constant, is sufficient to trigger significant behavioral influences between brothers.