2 papers
econ.TH2026
Pass-through with Price Dispersion
Brian C. Albrecht, Mark Whitmeyer
How do cost shocks pass through to prices in markets with price dispersion? We decompose the problem into two layers. In the competition layer, consumers' consideration sets determ…
econ.GN2026
Chaos and Misallocation under Price Controls
Brian C. Albrecht, Alex Tabarrok, Mark Whitmeyer
Price controls kill the incentive for arbitrage. We prove a Chaos Theorem: under a binding price ceiling, suppliers are indifferent across destinations, so arbitrarily small cost d…