L15

Ilwoo Hwang · Kyungmin Kim · Raphael Boleslavsky

Hwang, Kim, and Boleslavsky study how firms in an oligopoly simultaneously choose prices and advertising strategies, where advertising is modeled as the choice of how much product information to …

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 …