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All Outputs (10)

Pricing Novel Goods (2023)
Conference Proceeding
Giovannoni, F., & Hinnosaar, T. (2023). Pricing Novel Goods. In EC '23: Proceedings of the 24th ACM Conference on Economics and Computation (737). https://doi.org/10.1145/3580507.3597694

Consider a pharmaceutical company (the seller) contemplating supplying a vaccine for a new disease to a health authority (the buyer). The production cost is uncertain ex-ante and unverifiable ex-post. Both parties prefer an early agreement. But an ea... Read More about Pricing Novel Goods.

Externalities in knowledge production: evidence from a randomized field experiment (2021)
Journal Article
Hinnosaar, M., Hinnosaar, T., Kummer, M. E., & Slivko, O. (2022). Externalities in knowledge production: evidence from a randomized field experiment. Experimental Economics, 25(2), 706-733. https://doi.org/10.1007/s10683-021-09730-x

Are there positive or negative externalities in knowledge production? We analyze whether current contributions to knowledge production increase or decrease the future growth of knowledge. To assess this, we use a randomized field experiment that adde... Read More about Externalities in knowledge production: evidence from a randomized field experiment.

Wikipedia Matters (2021)
Journal Article
Hinnosaar, M., Hinnosaar, T., Kummer, M., & Slivko, O. (2021). Wikipedia Matters. Journal of Economics and Management Strategy, https://doi.org/10.1111/jems.12421

We document a causal impact of online user-generated information on real-world economic outcomes. In particular, we conduct a randomized field experiment to test whether additional content on Wikipedia pages about cities affects tourists' choices of... Read More about Wikipedia Matters.

On the Impossibility of Protecting Risk?takers (2017)
Journal Article
Hinnosaar, T. (2018). On the Impossibility of Protecting Risk?takers. Economic Journal, 128(611), 1531-1544. https://doi.org/10.1111/ecoj.12446

Risk?neutral sellers can extract high profits from risk?loving buyers using lotteries. To limit risk?taking, gambling is heavily regulated in most countries. In this article, I show that protecting risk?loving buyers is essentially impossible. Even i... Read More about On the Impossibility of Protecting Risk?takers.

Overbooking (2017)
Journal Article
Ely, J. C., Garrett, D. F., & Hinnosaar, T. (2017). Overbooking. Journal of the European Economic Association, 15(6), 1258-1301. https://doi.org/10.1093/jeea/jvw025

We consider optimal pricing policies for airlines when passengers are uncertain at the time of ticketing of their eventual willingness to pay for air travel. Auctions at the time of departure efficiently allocate space and a profit maximizing airline... Read More about Overbooking.

Penny auctions (2016)
Journal Article
Hinnosaar, T. (2016). Penny auctions. International Journal of Industrial Organization, 48, 59-87. https://doi.org/10.1016/j.ijindorg.2016.06.005

This paper studies penny auctions, a novel auction format in which every bid increases the price by a small amount, but placing a bid is costly. Outcomes of real-life penny auctions are often surprising. Even when selling cash, the seller may obtain... Read More about Penny auctions.