Contracts with Framing
研究利润最大化的卖家如何利用框架效应影响买家购买行为，分析最优合同及其福利效果，发现框架效应在异质买家市场中可能提升总福利。
We study a model of contracts in which a profit-maximizing seller uses framing to influence buyers’ purchasing behavior. Framing temporarily affects how buyers evaluate different products, and buyers can renege on their purchases after the framing effect wears off. We characterize the optimal contracts with framing and their welfare properties in several settings. Framing that is not too strong reduces total welfare in regulated markets with homogenous buyers, but increases total welfare in markets with heterogenous buyers when the proportion of buyers with low willingness to pay is small.