This chapter surveys the literature on the microstructure of housing markets. It considers one-
sided search, random matching, and directed search models. It also examines the …

In this essay, I begin by identifying the reasons that automation has not wiped out a majority
of jobs over the decades and centuries. Automation does indeed substitute for labor—as it is …

Research on housing supply has grown owing to improved data combined with heightened
interest in policies such as local land use regulations. Heterogeneity in supply conditions …

Academics' view of the benefits of finance vastly exceeds societal perception. This
dissonance is at least partly explained by an underappreciation by academia of how, without …

Abstract Research Summary This paper studies the impact of platform‐owner entry threat on
complementors in platform‐based markets. We examine how app developers on the …

ABSTRACT In 1966, the philosopher Michael Polanyi observed,“We can know more than we
can tell... The skill of a driver cannot be replaced by a thorough schooling in the theory of the …

Uber, the ride-sharing company launched in 2010, has grown at an exponential rate. Using
both survey and administrative data, the authors provide the first comprehensive analysis of …

Agents are often better informed than the clients who hire them and may exploit this
informational advantage. Real estate agents have an incentive to convince clients to sell …

中国房地产开发热潮实际上是在近5 年内形成的. 从1999 年以来, 整个房地产开发完成的投资额
每年以1000 亿元以上的幅度递增着, 从1999 年的4103 亿元, 迅速攀升至2003 年的10323 …

Mortgage loans are leading examples of transactions where experts on one side of the
market take advantage of consumers' lack of knowledge and experience. We study the …