Mortgage brokers acting as expert advisors for households often receive commission
payments from lenders. This paper analyzes the effects on welfare and market structure of …

This chapter provides an overview of the recent and growing econometric literature studying
how consumers search for products. We begin with a brief review of theoretical models of …

Digitalization can help suppliers cut ties with their intermediaries and offer products directly
to consumers. Such a digital disintermediation strategy likely affects both digital and non …

We present empirical evidence supporting that used cars sold by dealers have higher
quality:(i) dealer transaction prices are higher than unmediated market prices, and this …

We extend the literature on simultaneous search by allowing for differentiated products and
search cost heterogeneity. We show conditions under which a symmetric price equilibrium …

In 2020, the Department of Justice (DOJ) filed an antitrust suit against Google alleging that
Google has unlawfully monopolized the markets for general search services, search …

We investigate the efficiency of a market relative to a non-market institution—an auction
relative to a quota—as allocation mechanisms in the presence of frictions. We use data from …

We propose a tractable method for estimation of a simultaneous search model for
differentiated products that allows for observed and unobserved heterogeneity in both …

We investigate how to strategically motivate sales agents in intermediary markets. In
collaboration with a large travel company, we run a field experiment with more than 1, 200 …

Cutting out the intermediary and selling directly to consumers is an increasingly common
strategy by manufacturers in many industries. We develop a structural model of vertical …