Find my SSRN page here
Working papers:
"Digital Disintermediation and Efficiency in the Market for Ideas" (with Christian Peukert) [paper] (revision requested)
Digital technology has allowed inventors to circumvent traditional intermediaries and directly reach consumers, which may affect licensing outcomes and efficiency in the market for ideas. We study these impacts theoretically and empirically in the book publishing industry, where the number of new books available to consumers has almost doubled after the advent of digital self-publishing platforms. Using data on over 90,000 license deals between authors and publishers from 2002 to 2015, we identify disintermediation-related changes in this market from quasi-experimental variation across product types over time. Consistent with digital self-publishing improving an author's bargaining position, we find that authors get substantially more favorable license deals. We further show that ex-ante license fees reflect ex-post demand more accurately. This is consistent with additional entry generating more information about a product type's realized appeal. In markets in which product appeal is difficult to predict, such improvements in the information environment can have large impacts on efficiency and welfare.
"Welfare Implications of Proprietary Data Collection: An Application to Telematics in Auto Insurance" (with Benjamin Shiller) [paper] (under review)
Concerns about anti-competitive effects of proprietary data collection have motivated recent European data portability laws. We investigate such concerns and search for evidence of direct benefits of data collection in the context of Pay How You Drive (PHYD) auto insurance, which offers tailored discounts to drivers monitored by telematics devices. We exploit the staggered entry of PHYD insurance across states and insurers in a difference-in-differences framework, and we replicate the main findings using state insurance regulations as instruments for entry timing. We find a meaningful impact of PHYD programs on fatal accidents, but we find no evidence of antitrust concerns.
Published/accepted articles:
"Copyright and Generic Entry in Book Publishing"
(American Economic Journal - Microeconomics, forthcoming) [paper] (New York Times article)
"Do Coupons Expand or Cannibalize Revenue? Evidence from an e-Market" with Claire (Chunying) Xie
(Management Science, 2018) [paper]
"Are Public and Private Enforcement Complements or Substitutes? Evidence from High Frequency Data" with Gregory DeAngelo and Brad Humphreys
(Journal of Economic Behavior and Organization, 2017) [paper] (Sports Illustrated article)
"Examining Regulatory Capture: Evidence from the NHL" with Gregory DeAngelo and Adam Nowak
(Contemporary Economic Policy, 2017) [paper]
"Throwing the Books at Them: Amazon's Puzzling Long-Run Pricing Strategy" with Joel Waldfogel
(Southern Economic Journal, 2017) [paper]
"Can Private Copyright Protection be Effective? Evidence from Book Publishing"
(Journal of Law and Economics, 2016) [paper] (Publishers Weekly article)
"Storming the Gatekeepers: Digital Disintermediation in the Market for Books" with Joel Waldfogel
(Information Economics and Policy, 2015) [link]
Other work in progress:
"Digitization and the Demand for Physical Works: Evidence from the Google Books Project" (with Abhishek Nagaraj) [paper coming soon]
"Visibility of Technology and Cumulative Innovation: Evidence from Trade Secrecy Protection Laws" (with Bernhard Ganglmair) [paper coming soon]
Here is a link to data sources on the economics of digitization.
Working papers:
"Digital Disintermediation and Efficiency in the Market for Ideas" (with Christian Peukert) [paper] (revision requested)
Digital technology has allowed inventors to circumvent traditional intermediaries and directly reach consumers, which may affect licensing outcomes and efficiency in the market for ideas. We study these impacts theoretically and empirically in the book publishing industry, where the number of new books available to consumers has almost doubled after the advent of digital self-publishing platforms. Using data on over 90,000 license deals between authors and publishers from 2002 to 2015, we identify disintermediation-related changes in this market from quasi-experimental variation across product types over time. Consistent with digital self-publishing improving an author's bargaining position, we find that authors get substantially more favorable license deals. We further show that ex-ante license fees reflect ex-post demand more accurately. This is consistent with additional entry generating more information about a product type's realized appeal. In markets in which product appeal is difficult to predict, such improvements in the information environment can have large impacts on efficiency and welfare.
"Welfare Implications of Proprietary Data Collection: An Application to Telematics in Auto Insurance" (with Benjamin Shiller) [paper] (under review)
Concerns about anti-competitive effects of proprietary data collection have motivated recent European data portability laws. We investigate such concerns and search for evidence of direct benefits of data collection in the context of Pay How You Drive (PHYD) auto insurance, which offers tailored discounts to drivers monitored by telematics devices. We exploit the staggered entry of PHYD insurance across states and insurers in a difference-in-differences framework, and we replicate the main findings using state insurance regulations as instruments for entry timing. We find a meaningful impact of PHYD programs on fatal accidents, but we find no evidence of antitrust concerns.
Published/accepted articles:
"Copyright and Generic Entry in Book Publishing"
(American Economic Journal - Microeconomics, forthcoming) [paper] (New York Times article)
"Do Coupons Expand or Cannibalize Revenue? Evidence from an e-Market" with Claire (Chunying) Xie
(Management Science, 2018) [paper]
"Are Public and Private Enforcement Complements or Substitutes? Evidence from High Frequency Data" with Gregory DeAngelo and Brad Humphreys
(Journal of Economic Behavior and Organization, 2017) [paper] (Sports Illustrated article)
"Examining Regulatory Capture: Evidence from the NHL" with Gregory DeAngelo and Adam Nowak
(Contemporary Economic Policy, 2017) [paper]
"Throwing the Books at Them: Amazon's Puzzling Long-Run Pricing Strategy" with Joel Waldfogel
(Southern Economic Journal, 2017) [paper]
"Can Private Copyright Protection be Effective? Evidence from Book Publishing"
(Journal of Law and Economics, 2016) [paper] (Publishers Weekly article)
"Storming the Gatekeepers: Digital Disintermediation in the Market for Books" with Joel Waldfogel
(Information Economics and Policy, 2015) [link]
Other work in progress:
"Digitization and the Demand for Physical Works: Evidence from the Google Books Project" (with Abhishek Nagaraj) [paper coming soon]
"Visibility of Technology and Cumulative Innovation: Evidence from Trade Secrecy Protection Laws" (with Bernhard Ganglmair) [paper coming soon]
Here is a link to data sources on the economics of digitization.
