NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Asymmetric Learning in Repeated Contracting: An Empirical Study

Alma Cohen

NBER Working Paper No. 13752
Issued in January 2008

---- Acknowledgements -----

I gratefully acknowledge the helpful suggestions of Lucian Bebchuk, Rajeev Dehejia, Liran Einav, Aviv Nevo, Manuel Trajtenberg, Miguel Villas-Boas, and seminar participants at the University of California at Berkeley and the Hebrew University. I also wish to thank the IDI Company for the data and Shai Fogel, its past CEO, for very helpful discussions about the company and its market. An early, preliminary version of this paper was circulated as "Profits and Market Power in Repeat Contracting: Evidence from the Insurance Market." The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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