Alon Eizenberg
@eizenb_alon
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Associate Prof and the William Haber Chair in Economics @HebrewU. Co-Editor IJIO. Research Fellow @ceprdc. Empirical IO & econometrics. Opinions are mine only.
Joined February 2018
1/2 @conlon_chris and I are jointly editing a Special Issue of IJIO titled "Market power and the macroeconomy". Recent trends such as inflation or rising interest rates create a nice laboratory to study how the macro environment shapes firms' strategy and competitive conduct.
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(1/3) Can you get DAGs, POs, Diff-in-Diff, Manski bounds, structural estimation of demand and auctions, and more, into one applied econometrics textbook, complete with R code and suggested public data to play with?. I didn't think so, until I got this by airmail this morning :)
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Facing some heavy-duty computational projects, I finally installed @JuliaLanguage. Now what?.Take me to your leader. There's a lot of documentation out there that looks great. But is there anything specifically recommended for IO-oriented folks?
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During the past decade, many of you were subject to see our Jerusalem supermarkets paper in seminars and workshops. Possibly more than once. It is now accepted at the AEJ:Policy, prompting this THREAD about inequality, IO and econometrics -->.
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I am happy to join the team of coeditors at the IJIO. You can follow the journal at @earie_news. Looking forward to your very cool IO papers :).
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May I interrupt common ownership's party and introduce its less popular cousin, multimarket contact?. mmc happens when the same set of firms is present in multiple markets. THREAD 👉
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A thoughtful consideration of this year's Nobel. RCTs useful, not a silver bullet. Nobelists grounded their work in economic theory, something that was perhaps lost on some of their followers. Limitations aside, their work has a tremendous positive impact.
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🚨Publication :)🚨. The limited capacity of primary care physicians is a big deal. Prices cannot respond to demand fluctuations. Some other feature of the service must adjust instead. So, what is actually lost when docs have less time to spend with us?. 🧵w/ @ityshurtz 1/11
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(1/12) Does the corona virus drive markets towards higher concentration? The short answer is probably "yes," but with important nuance. Thread. -->.
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7-10 is 🇮🇱 9-11. At least 600 dead. Many kidnapped. Grandmas, children, babies. Among them dozens of Americans. Got many pm's asking if my family and I are ok. We are. It was heartwarming to receive them. CNN's Dana Bash just said "Israelis are very resilient." That's correct.
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Our Jerusalem supermarkets paper is in print. A thread about it is offered here 👇.The thread is very long, whereas the paper is actually much shorter than it used to be. perhaps we should be writing papers to briefly summarize twitter threads🙄
The May 2021 issue of AEJ: Economic Policy (13, 2) is now available online at
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(3/3) Working through practical examples is a great way to get in business, leaving the extra mile for more specific resources. So I find this book really useful whether you are a grad student, career academic, in private or public sector. Plus I like buying new books. THE END.
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IO day update: we are postponing to December 2021. Zoom workshops are fun, but for us the main point is to host IO colleagues in Jerusalem and interact (with Hummus). You can't have Hummus via Zoom. So we'll see you next year with @haile_phil as keynote speaker. Stay safe 🙏.
This is an *invitation thread* to our 10th annual IO day, to take place in Jerusalem just under a year from today, on December 13th 2020. We are excited to have (the twitterless) Phil Haile as our keynote speaker. -->.
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1/5 Rockets & feathers are well documented empirically (Peltzman JPE2000 & others) but what generates them? . The lit suggests collusion, but also search frictions. The latter frictions can arise in mkts with many sellers and are not fundamentally linked to antitrust issues.
Really worthwhile @paulkrugman column. I have been making this point for a while. The 🚀 + 🪶 phenomenon of asymmetric pass through is a hallmark of market power. Somehow many econ pundits seem allergic to accepting that fact.
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State of the social sciences, October 2023: folks who would gladly claim to have identified anything as long as two lines move together pre-treatment find themselves in need of more evidence before weighing in on a genocide-fest broadcasted live from the victims' phones.
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1/ Antitrust and inflation? Here's a very short thread with some thoughts. First, are oligopoly markups pro- or counter-cyclical? @NateHMiller nicely reminds us that procyclical markups emerge in oligopoly models under mild conditions:.
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A very interesting thread by @IvanWerning. My difficulty in this debate is that markups are an equilibrium outcome, just like prices. Those outcomes could be positively correlated given various mechanisms that do not suggest a causal link from market power to inflation.
So yeah, markups up don't necessarily mean inflation up. That is, real marginal costs can fall or policy can help that happen. Either way, I guess we'd still say "inflation was fueled by markups", even if we adjusted other things to countervail.
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This is an *invitation thread* to our 10th annual IO day, to take place in Jerusalem just under a year from today, on December 13th 2020. We are excited to have (the twitterless) Phil Haile as our keynote speaker. -->.
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Grateful for the opportunity to present our paper on multimarket contact this Thursday at the U.S. Department of Justice (Antitrust Division) Economic Analysis Group Seminar.
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As it turns out we face more urgent threats to society than multimarket contact and, I kid you not, problems one cannot solve by way of demand estimation. Stay safe ❤️ Better times and a renewed focus on econ ahead.
New CEPR Discussion Paper - DP18523.Estimating the Strategic Effect of Multi-Market Contact.Alon Eizenberg @eizenb_alon @HebrewU, Dalia Shilian, Daniel D. Blanga @HebrewU.#CEPR_IO
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Happy to share the #jerusalemioday programme 📣. It was not easy to choose among many great submissions. Looking forward to host a great team of speakers and discussants in December!
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Hats off to @conlon_chris (who I am honored to call a classmate) and Jeff Gortmaker for generating the public good at I have been reading this cover-to-cover simultaneously with estimating the demand for Hummus! ->.
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(2/3) Looking forward to using this textbook from @ChrisAdamsEcon in my spring semester teaching. Here is how I see the value of this book: there are substantial barriers to entry into using techniques that you may not have learned or used before.
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We're gonna have a big markup party at San Diego. There was a time, not long ago, when it seemed that IO economists left this scene for others. Not anymore.
Here are just a few., there are many more Full programme here.
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VIOS is back for another Fall semester, starting this coming Wednesday, September 22nd. This time it is on a bi-weekly basis, reflecting the hope that in-person activity is slowly resuming. Looking forward to some exciting IO papers!.
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After 6 years of work on our hummus & coffee paper, and having consumed large amounts of both substances in the process, we are ready to submit to a journal. But not before we present it on Saturday at #EARIE2023 (Competition II). Paper available here:.
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Hebrew-U econ is hiring. All fields of economics, tenure-track and tenured positions. Apply by Nov 15th.
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Standard demand estimation techniques require judgement calls re market boundaries and relevant product characteristics. Hard to do in a "long tail" world featuring countless products with "odd" characteristics. @SeilerStephan, @GioCompiani and Ilya propose a neat way forward.
🚨🚨 New working paper!!! 🚨🚨 .Demand Estimation with Text and Image Data (together with @GioCompiani and Ilya Morozov). We propose a method to include product similarity measured using unstructured data into a demand estimation framework. 1/7
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This reading list is awesome. IO scholars of the 1950s-60s did not have as much data and metrics tools as those of the 2020s. But they forged an agenda of big questions that we have yet to answer, complete with insightful conceptual foundations.
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Headed to Zurich tonight for the UZH Market Power Workshop. Looking forward to see new and exciting work and to present our own work on Multimarket contact.
📢 UZH Market Power Workshop 📢. On October 6 and 7 2023, the UZH Market Power Workshop will take place. We have an exciting program with excellent speakers and discussants. For the full program + link to register, follow: . (1/7)
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I hope my American friends are ready for this: I am coming over to your side of the pond to present path-breaking preliminary results from a new project!.The preliminary results:
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Question for concerned professors, both-siders and generic confused souls:. How would you go about disarming Hamas, getting hostages back and making sure that the Oct 7th atrocities would not be repeated next week, month, year?. Not holding my breath for the response. ->.
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Boarding soon to visit uva, yale, boston college. Looking forward to catch up with everyone. See you on the other side of the traditional 12-hr slide making.
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Finally (is anybody still here? 😃), a word about the process. This project took almost a decade. The accepted version is 40% shorter than the WP versions, the rest going into a monumental online appendix to which we became quite emotionally attached. -->.
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Absolutely. Economists have no relative advantage at "identification". The one advantage we have over other disciplines is that we spend years thinking about economic models. Let's use it.
Let’s be clear. This is not a new thing. If it’s true, it’s an indication the pendulum is swinging back towards economics from identification. I’m in favor.
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Consistently one of my favorite conferences. Call for papers is out for iioc.
Announcing the Call for Papers for the 2020 (18th annual) International Industrial Organization Conference
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The essence of being Glen Weyl is the belief that what Israel needs at the moment is a very long thread by Glen Weyl summarizing the history of Glen Weyl's attitudes towards Israel topped by Glen Weyl's predictions regarding Glen Weyl's future attitudes towards Israel.
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1/ Getting ready for some @iioc action this weekend!. Let me shamelessly promote sessions in which I am involved in some way. There are plenty of others that are really intriguing, all of which can be found here:.
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USC Campus logic. Calls for eradication of Israel: protected free speech. Calling out Hamas for what they are: grounds for disciplinary action.
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Cool paper (thankfully not titled Killer app-uisitions).
What kind of mobile apps are acquired by #GAFAM and what happens to them? Excited to share that joint work with @reinholdkesler titled #BigTech Acquisitions – Towards Empirical Evidence is now published in @JECLAP 1/3
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As promised, welcome to my live-blogging thread from IO day. Setting expectations is important: it is way outside my capabilities to explain other people's work on the fly. So I will merely describe the topics and invite you to look up the papers. .
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Check out this JMP👀 . Product mkt & employment effects of the Whirpool-Maytag merger. Labor mkt issue is not monopsony but rather the impact on domestic employment compared to a foreign acquisition scenario. Under the hood: frontier IO techniques, endogenous variety & price.
📢 JMP Thread 📢. “Mergers, Foreign Entry, and Jobs: Evidence from the U.S. Appliance Industry”. Should merger control consider domestic employment effects of product mkt mergers?. JMP Link: 👇 A short thread on my JMP
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We are very much grateful to all readers, commentators and colleagues who made this paper better. This is the nice part: people do care about the details of what you do, and you learn a lot as you go along. You just need to keep going. THE END.
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Join us (Mitsuru Igami, Nathan Miller, Chris Sullivan and yours truly) for an ESEM session tomorrow:.Session 141: Repeated Games of Collusion: Empirical Analysis.August 27, 2019 14:15 to 16:00. #EEAESEM19.
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(1/7) Should "top" journals publish covid-19 papers soon, or only within 5 years? An interesting twitter debate has emerged on this, with thoughtful arguments on all sides. I tend to side with the notion that covid stuff should appear in leading journals fairly quickly -->.
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Did not find the shuttle, chased a sleepy taxi driver, ran like the wind - but it's all worth it because this train is going to New Haven!
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No reformulation will take away IO's favorite industry. Congratulations @jalechilet.
Thrilled that my joint paper with Sarah Moshary @ChicagoBooth is conditionally accepted at Marketing Science @INFORMS. We study manufacturers' responses to food packaging and advertising regulations. So happy that I passed my rite of passage as an IO economist: we study cereals!
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We have a very nice VIOS session tomorrow with @cailin_slattery presenting her very cool paper on how states compete over firms and the associated welfare consequences. Elena Krasnokutskaya will discuss. Cameras on, questions and interaction most encouraged. See you there!.
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Many thanks to @ershov_daniel, @dprbyrne and an active and engaged audience for a great kickoff yesterday. Can we have an efficient and helpful live Zoom conversation about research with ~120 economists connected? The answer is officially yes. See you next week.
VIOS is back! Join us tomorrow for a presentation by @ershov_daniel and discussion by @dprbyrne. (As a bonus, you will observe the state of your humble moderator following a 1 yr absence from the barber shop). Note also the change to rules: cameras on and more interaction.
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VIOS is back! Join us tomorrow for a presentation by @ershov_daniel and discussion by @dprbyrne. (As a bonus, you will observe the state of your humble moderator following a 1 yr absence from the barber shop). Note also the change to rules: cameras on and more interaction.
The Spring 2021 series of the CEPR Virtual IO Seminar (VIOS) will start tomorrow at ⏰3 PM (GMT). Join @ershov_daniel @TSEinfo presenting on "Algorithmic Pricing and Competition: Empirical Evidence from the German Retail Gasoline Market". More info: ➡️
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(1/3) Two important takeaways from this IGM survey on competition. The first: majority of surveyed economists are concerned about consolidation and lack of competition. The second: wide recognition that industries are heterogeneous.
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A very nice blog post from @dlmillimet on partial ID. Here are some of the main points + some of my own thoughts:.1. Partial ID of treatment effects allows one to explore different assumptions that yield different information re the effect in question. -->.
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Reminder: our IO day takes place on December 28 2023. Excited to have a keynote lecture by @PhilHaile! .Submissions are flowing in and are most welcome. Please find the call for papers below.
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Paris, this Thursday: the "Trade, IO and the food industry" workshop. What could be better? Looking forward to present our never-ending project on structure, conduct and multimarket contact in the Israeli food sector .
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@j2dubyas Some parts of the profession got used to finding data variation first, then figure out what question to ask. This habit has limitations, and those are quickly revealed when the order is reversed, and the question presents itself first.
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There were no surveillance cameras in each town in 1940s Europe. "Ceasefire now" serves one purpose: allowing Hamas to regroup and do this over and over again. No descent person would support that. No country in its right mind would accept it.
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7/7 Some Jewish schools in Europe are closed today. Unsafe. Our schools are also closed. Teachers enlisted, attending funerals, in bomb shelters with their own children. Shabbat Shalom from 🇮🇱 to our sisters & brothers around the globe who face hatred because they are✡️.
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Grateful for the opportunity to virtually visit & present our work on multimarket contact at the Micro seminar at Boston University today.
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There used to be a cartel store on that corner but owner was not patient enough.
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Still a Matlab loyalist, but I am meeting @RunnerVgn for Hummus tomorrow. I predict he will convince me to switch to Julia. Following on the 2nd part of Nate's tweet, we employ repeated games to estimate anticompetitive effects of multimarket contact:.
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@shoshievass The book by @ChrisAdamsEcon has a nice set of dataset references including some classics like cereals, education-related and so on.
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The virtual equivalent of missing a flight to a conference: not getting the login info via email. #EARIE2021 is on (presumably I should be able to enjoy it shortly once the re-sent link arrives).
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@toniwhited I agree and am trying to economize on footnotes (with partial success). I think that many footnotes are there to provide defense against the concerns of reviewer #2. But that reviewer only gets more annoyed with the paper b/c of the many footnotes! Catch 22.
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The IDF carries out an investigation, concludes that terrorists' failed rocket launch hit a Gaza hospital. Antisemites: do not waste a minute before accusing Israel of war crimes. Same folks who blamed it for Hamas' October 7th massacre. Or as they call it at Harvard: a thesis.
Breaking: IDF Spokesperson . From the analysis of the operational systems of the IDF, an enemy rocket barrage was carried out towards Israel, which passed through the vicinity of the hospital when it was hit. According to intelligence information, from several sources we have,.
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Never judge an IO workshop by the quality of its brochure. Especially if I made the brochure.
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Join us tomorrow for VIOS featuring presentation by @TobiasSalz and discussion from Paul Heidhues!.
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Important op-ed. I find it remarkable that competitors in a large and visible industry coordinate wages *via e-mail*. Even w/o any legal ramifications, you would expect them to worry that the e-mail would leak, prompting public dismay. Or is the public simply indifferent?.
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Schedule for tomorrow:. 8:30-10:00: teaching intermediate micro at Hebrew-U.10:30-18:00 meetings + seminar at Helsinki .All done from home. Covid-19 style. I cannot wait to find out what efficiencies covid-25 will bring. Perhaps teaching in space while sound asleep.
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Getting ready for IAAE 2021. full program is here:. Looking forward to some demand estimation action tomorrow at 16:00 (Central European Time) in the appropriately-titled session "Demand Estimation I"
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Social work via AK-47?.A complex notion indeed but @Columbia has figured it out .Science is top priority after all.
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