University of Kansas
NBER Working Papers and Publications
|April 2015||Comment on "Copyright and the Profitability of Authorship: Evidence from Payments to Writers in the Romantic Period"|
in Economic Analysis of the Digital Economy, Avi Goldfarb, Shane M. Greenstein, and Catherine E. Tucker, editors
|February 2010||File Sharing and Copyright|
with Felix Oberholzer-Gee
in Innovation Policy and the Economy, Volume 10, Josh Lerner and Scott Stern, editors
|October 2008||Historical Political Futures Markets: An International Perspective|
with Paul W. Rhode: w14377
Political future markets, in which investors bet on election outcomes, are often thought a recent invention. Such markets in fact have a long history in many Western countries. This paper traces the operation of political futures markets back to 16th Century Italy, 18th Century Britain, and 19th Century United States. In the United States, election betting was a common part of political campaigns in the antebellum period, but became increasingly concentrated in the organized futures markets in New York City over the postbellum period.
|April 2006||Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes|
with Mark Coppejans, Donna Gilleskie, Holger Sieg: w12156
The goal of this paper is to analyze consumer demand in markets with large price uncertainty. We develop a demand model for goods that are subject to habit formation. We show that consumption plans of forward looking individuals depend not only on preferences and current period prices, but also on individual beliefs about the evolution of future prices. Moreover, a mean preserving spread in the price distribution and, hence, an increase in price uncertainty reduces consumption along the optimal path. With smoking as our application, we test the predictions of our model. We use a unique data set of prices for cigarettes collected by the Bureau of Labor Statistics to characterize price uncertainty and price expectations of individuals. We have also obtained access to the restricted use versi...
Published: Coppejans, M., Gilleskie, D., Sieg, H. and K. Strumpf. "Consumer Demand under Price Uncertainty: Empirical Evidence from the Market for Cigarettes.” Review of Economics and Statistics 89,3 (2007): 510-521. citation courtesy of