Valuing New Goods in a Model with Complementarity: Online Newspapers
开发了一个允许互补性的新模型，利用华盛顿特区的新微观数据，研究纸质报纸与在线报纸之间的需求关系，评估在线报纸引入的福利影响以及收取在线价格的预期效果。
Many important economic questions hinge on the extent to which new goods either crowd out or complement consumption of existing products. Recent methods for studying new goods rule out complementarity by assumption, so their applicability to these questions has been limited. I develop a new model that relaxes this restriction, and use it to study competition between print and online newspapers. Using new micro data from Washington, DC, I estimate the relationship between the print and online papers in demand, the welfare impact of the online paper's introduction, and the expected impact of charging positive online prices.