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econ.GN2026
On the Optimality of Mental Accounting
Jarrod Burgh, Emerson Melo, Matthew Shum
Mental accounting is usually explained by self-control, and two-stage budgeting by separable preferences. We propose a third explanation based on sellers' market power. A consumer…
econ.TH2026
One-Shot Pricing for Hands-Off-the-Wheel Advertising Markets
Emerson Melo, Matt Shum, Rakesh Vohra
Per-impression auctions have long served as the allocation mechanism in online advertising. We argue that in ``hands-off-the-wheel'' (HOTW) markets, where advertisers declare budge…