PEC: Kris Ramsay

Thu, Oct 18, 2018, 12:15 pm

Why are black markets more prone to violence than their licit counterparts? Sellers in black markets face two problems largely absent from licit markets. First, they have no legal recourse if their product is forcibly stolen from them. Second, attempts at exchange may be punished by the authorities. In a simple model of monopolistic pricing, we show these forces interact to produce increased theft as prohibition enforcement increases. More broadly, we build a typology of exchange under anarchy, generalizing the standard model of monopoly under incomplete information (Maskin and Riley 1984) to settings featuring prohibition and theft.

Upcoming

PEW: Gerard Padro-i-Miquel

Mon, Oct 22, 2018, 4:30 pm
Location: 127 Corwin Hall

PEC: Gleason Judd

Thu, Oct 25, 2018, 12:15 pm
Location: Fisher Hall 200

PEW: Sergio Montero

Mon, Nov 5, 2018, 4:30 pm
Location: 127 Corwin Hall

PEC: Korhan Kocak

Thu, Nov 8, 2018, 12:15 pm
Location: Fisher Hall 200

PEC: Maria Micaela Sviatschi

Thu, Nov 29, 2018, 12:15 pm
Location: Fisher Hall 200

PEW: Laurent Bouton

Mon, Dec 3, 2018, 4:30 pm
Location: 127 Corwin Hall

PEC: Brendan Cooley

Thu, Dec 6, 2018, 12:15 pm
Location: Fisher Hall 200

PEC: Federico Huneeus

Thu, Dec 13, 2018, 12:15 pm
Location: Fisher Hall 200

PEW: Alessandra Casella

Mon, Feb 11, 2019, 4:30 pm
Location: 127 Corwin Hall

PEW: Edward Glaeser

Mon, Feb 25, 2019, 4:30 pm
Location: 127 Corwin Hall