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Nikhil Agarwal · Paulo Somaini

Agarwal and Somaini study demand estimation in markets where consumers face latent choice constraints — situations where a consumer’s effective choice set is determined not only by her …

Giulia Brancaccio · Karam Kang

Layer 1 — Overview Research Question This paper investigates whether intermediaries in the U.S. municipal bond market strategically exploit product design to increase search frictions and, through …

Greg Buchak · Gregor Matvos · Tomasz Piskorski · Amit Seru

This paper examines frictions in dealer intermediation in durable consumer goods markets, using iBuyers — technology-driven real estate companies such as Opendoor and Offerpad — as a lens. The central …