Publications of James W. Roberts    :chronological  alphabetical  combined listing:

%% Journal Articles   
@article{fds343588,
   Author = {Garrett, D and Ordin, A and Roberts, JW and Suárez Serrato,
             JC},
   Title = {Tax Advantages and Imperfect Competition in Auctions for
             Municipal Bonds},
   Journal = {Review of Economic Studies},
   Volume = {90},
   Number = {2},
   Pages = {815-851},
   Publisher = {Oxford University Press (OUP)},
   Year = {2023},
   Month = {March},
   url = {http://dx.doi.org/10.1093/restud/rdac035},
   Abstract = {<jats:title>Abstract</jats:title> <jats:p>We study the
             interaction between tax advantages for municipal bonds and
             the market structure of auctions for these bonds. We show
             that this interaction can limit a bidder’s ability to
             extract information rents and is a crucial determinant of
             state and local governments’ borrowing costs. Reduced-form
             estimates show that increasing the tax advantage by 3 pp
             lowers mean borrowing costs by 9–10$\%$. We estimate a
             structural auction model to measure markups and to
             illustrate and quantify how the interaction between tax
             policy and bidder strategic behaviour determines the impact
             of tax advantages on municipal borrowing costs. We use the
             estimated model to evaluate the efficiency of Obama and
             Trump administration policies that limit the tax advantage
             for municipal bonds. Because reductions in the tax advantage
             inflate bidder markups and depress competition, the
             resulting increase in municipal borrowing costs more than
             offsets the tax savings to the government. Finally, we use
             the model to analyse a recent non-tax regulation that
             affects entry into municipal bond auctions.</jats:p>},
   Doi = {10.1093/restud/rdac035},
   Key = {fds343588}
}

@article{fds368297,
   Author = {Eliason, PJ and McDevitt, RC and Roberts, JW},
   Title = {Physicians as Owners and Agents-A Call for Further
             Study.},
   Journal = {Jama Internal Medicine},
   Volume = {182},
   Number = {12},
   Pages = {1276-1277},
   Year = {2022},
   Month = {December},
   url = {http://dx.doi.org/10.1001/jamainternmed.2022.5025},
   Doi = {10.1001/jamainternmed.2022.5025},
   Key = {fds368297}
}

@article{fds367602,
   Author = {League, RJ and Eliason, P and McDevitt, RC and Roberts, JW and Wong,
             H},
   Title = {Assessment of Spending for Patients Initiating Dialysis
             Care.},
   Journal = {Jama Network Open},
   Volume = {5},
   Number = {10},
   Pages = {e2239131},
   Year = {2022},
   Month = {October},
   url = {http://dx.doi.org/10.1001/jamanetworkopen.2022.39131},
   Abstract = {<h4>Importance</h4>Despite a widespread belief that private
             insurers spend large amounts on health care for enrollees
             receiving dialysis, data limitations over the past decade
             have precluded a comprehensive analysis of the
             topic.<h4>Objective</h4>To examine the amount and types of
             increases in health care spending for privately insured
             patients associated with initiating dialysis
             care.<h4>Design, setting, and participants</h4>A cohort
             study covering calendar years 2012 to 2019 included patients
             with kidney failure who had employer-sponsored insurance for
             12 months following dialysis initiation. Data analysis was
             performed from August 27, 2021, to August 18, 2022. The data
             cover the entirety of the US and were obtained from the
             Health Care Cost Institute. The data include all medical
             claims for enrollees in employer-sponsored health insurance
             plans offered by multiple major health care insurers within
             the US. Participants included patients younger than 65 years
             who were continuously enrolled in these plans in the 12
             months before and after their first claim for dialysis care.
             Patients also had to have nonmissing documented key
             characteristics, such as sex, race and ethnicity, and health
             characteristics.<h4>Exposures</h4>A claim for dialysis
             care.<h4>Main outcomes and measures</h4>Out-of-pocket,
             inpatient, outpatient, physician services, prescription
             medication, and total health care spending. The hypothesis
             tested was formulated before data collection.<h4>Results</h4>The
             sample included 309 800 enrollee-months, which was a
             balanced panel of 25 months for 12 392 enrollees. At
             baseline, 7534 patients (61%) were male, 5415 (44%) were
             aged 55 to 64 years, and patients had been enrolled with
             their insurer for a mean of 30 months (95% CI, 29.9-30.1
             months). In the 12 months before initiating dialysis care,
             total monthly health care spending was $5025 per patient per
             month (95% CI, $4945-$5106). Dialysis care initiation was
             associated with an increase in total monthly spending of
             $14 685 (95% CI, $14 413-$14 957). This increase
             occurred across all spending categories (dialysis,
             nondialysis outpatient, inpatient, physician services, and
             prescription drugs). Monthly patient out-of-pocket spending
             increased by $170 (95% CI, $162-$178). These spending
             increases occurred abruptly, beginning about 2 months before
             dialysis initiation, and remained increased for the
             subsequent 12 months.<h4>Conclusions and relevance</h4>In
             this cohort study, evidence that private insurers experience
             significant, sustained increases in spending when patients
             initiated dialysis was noted. The findings suggest that
             proposed policies aimed at limiting the amount dialysis
             facilities charge private insurers and the enrollees has the
             potential to reduce health care spending in this high-cost
             population.},
   Doi = {10.1001/jamanetworkopen.2022.39131},
   Key = {fds367602}
}

@article{fds362441,
   Author = {Bhattacharya, V and Ordin, A and Roberts, JW},
   Title = {Bidding and Drilling under Uncertainty: An Empirical
             Analysis of Contingent Payment Auctions},
   Journal = {Journal of Political Economy},
   Volume = {130},
   Number = {5},
   Pages = {1319-1363},
   Year = {2022},
   Month = {May},
   url = {http://dx.doi.org/10.1086/718916},
   Abstract = {Auctions are often used to sell assets whose future cash
             flows require the winner to make postauction investments.
             When winners’ payments are contingent on these cash flows,
             auction design can influence both bidding and incentives to
             exert effort after the auction. We propose a model of
             contingent payment auctions that links auction design to
             postauction economic activity. In the context of oil leases
             in the Permian Basin, we show that moral hazard affects the
             relative revenue ranking of different auction designs. Among
             a large class of alternatives, the observed design cannot be
             changed to increase both revenues and drilling
             rates.},
   Doi = {10.1086/718916},
   Key = {fds362441}
}

@article{fds363228,
   Author = {Cerullo, M and Yang, K and Joynt Maddox and KE and McDevitt, RC and Roberts, JW and Offodile, AC},
   Title = {Association Between Hospital Private Equity Acquisition and
             Outcomes of Acute Medical Conditions Among Medicare
             Beneficiaries.},
   Journal = {Jama Network Open},
   Volume = {5},
   Number = {4},
   Pages = {e229581},
   Year = {2022},
   Month = {April},
   url = {http://dx.doi.org/10.1001/jamanetworkopen.2022.9581},
   Abstract = {<h4>Importance</h4>As private equity (PE) acquisitions of
             short-term acute care hospitals (ACHs) continue, their
             impact on the care of medically vulnerable older adults
             remains largely unexplored.<h4>Objective</h4>To investigate
             the association between PE acquisition of ACHs and access to
             care, patient outcomes, and spending among Medicare
             beneficiaries hospitalized with acute medical
             conditions.<h4>Design, setting, and participants</h4>This
             cross-sectional study used a generalized
             difference-in-differences approach to compare 21 091 222
             patients admitted to PE-acquired vs non-PE-acquired
             short-term ACHs between January 1, 2001, and December 31,
             2018, at least 3 years before to 3 years after PE
             acquisition. The analysis was conducted between December 28,
             2020, and February 1, 2022. Differences were estimated using
             both facility and hospital service area fixed effects. To
             assess the robustness of findings, regressions were
             reestimated after including fixed effects of patient county
             of origin to account for geographic differences in
             underlying health risks. Two subset analyses were also
             conducted: (1) an analysis including only hospitals in
             hospital referral regions with at least 1 PE acquisition and
             (2) an analysis stratified by participation in the Hospital
             Corporation of America 2006 acquisition. The study included
             Medicare beneficiaries 66 years and older who were
             hospitalized with 1 of 5 acute medical conditions: acute
             myocardial infarction (AMI), acute stroke, chronic
             obstructive pulmonary disease exacerbation, congestive heart
             failure exacerbation, and pneumonia.<h4>Exposures</h4>Acquisition
             of hospitals by PE firms.<h4>Main outcomes and
             measures</h4>Comorbidity burden (measured by Elixhauser
             comorbidity score), hospital length of stay, in-hospital
             mortality, 30-day mortality, 30-day readmission, and 30-day
             episode payments.<h4>Results</h4>Among 21 091 222 total
             Medicare beneficiaries admitted to ACHs between 2001 and
             2018, 20 431 486 patients received care at non-PE-acquired
             hospitals, and 659 736 received care at PE-acquired
             hospitals. Across all admissions, the mean (SD) age was
             79.45 (7.95) years; 11 727 439 patients (55.6%) were
             male, and 4 550 012 patients (21.6%) had dual insurance;
             2 996 560 (14.2%) patients were members of racial or ethnic
             minority groups, including 2 085 128 [9.9%] Black and 371
             648 [1.8%] Hispanic; 18 094 662 patients (85.8%) were
             White. Overall, 3 083 760 patients (14.6%) were hospitalized
             with AMI, 2 835 777 (13.4%) with acute stroke, 3 674
             477 (17.4%) with chronic obstructive pulmonary disease
             exacerbation, 5 868 034 (27.8%) with congestive heart
             failure exacerbation, and 5 629 174 (26.7%) with pneumonia.
             Comorbidity burden decreased slightly among patients
             admitted with acute stroke (difference, -0.04 SDs; 95% CI,
             -0.004 to -0.07 SDs) at acquired hospitals compared with
             nonacquired hospitals but was unchanged across the other 4
             conditions. Among patients with AMI, a greater decrease in
             in-hospital mortality was observed in PE-acquired hospitals
             compared with non-PE-acquired hospitals (difference, -1.14
             percentage points, 95% CI, -1.86 to -0.42 percentage
             points). In addition, a greater decrease in 30-day mortality
             (difference, -1.41 percentage points; 95% CI, -2.26 to -0.56
             percentage points) was found at acquired vs nonacquired
             hospitals. However, 30-day spending and readmission rates
             remained unchanged across all conditions. The extent and
             directionality of estimates were preserved across all
             robustness assessments and subset analyses.<h4>Conclusions
             and relevance</h4>In this cross-sectional study using a
             difference-in-differences approach, PE acquisition had no
             substantial association with the patient-level outcomes
             examined, although it was associated with a moderate
             improvement in mortality among Medicare beneficiaries
             hospitalized with AMI.},
   Doi = {10.1001/jamanetworkopen.2022.9581},
   Key = {fds363228}
}

@article{fds362155,
   Author = {Li, S and Mazur, J and Park, Y and Roberts, J and Sweeting, A and Zhang,
             J},
   Title = {Repositioning and market power after airline
             mergers},
   Journal = {The Rand Journal of Economics},
   Volume = {53},
   Number = {1},
   Pages = {166-199},
   Year = {2022},
   Month = {March},
   url = {http://dx.doi.org/10.1111/1756-2171.12404},
   Abstract = {We estimate a model of route-level competition between
             airlines who choose whether to offer nonstop or connecting
             service before setting prices. Airlines have full
             information about all quality, marginal cost, and fixed cost
             unobservables throughout the game, so that service choices
             will be selected on these residuals. We conduct merger
             simulations that allow for repositioning and account for the
             selection implied by the model and the data. Accounting for
             selection materially affects the predicted likelihood of
             repositioning and the predicted magnitude of post-merger
             price changes, and it allows us to match what has been
             observed after consummated mergers.},
   Doi = {10.1111/1756-2171.12404},
   Key = {fds362155}
}

@article{fds362341,
   Author = {League, RJ and Eliason, P and McDevitt, RC and Roberts, JW and Wong,
             H},
   Title = {Variability in Prices Paid for Hemodialysis by
             Employer-Sponsored Insurance in the US From 2012 to
             2019.},
   Journal = {Jama Network Open},
   Volume = {5},
   Number = {2},
   Pages = {e220562},
   Year = {2022},
   Month = {February},
   url = {http://dx.doi.org/10.1001/jamanetworkopen.2022.0562},
   Doi = {10.1001/jamanetworkopen.2022.0562},
   Key = {fds362341}
}

@article{fds361184,
   Author = {Cerullo, M and Yang, KK and Roberts, J and McDevitt, RC and Offodile,
             AC},
   Title = {Private Equity Acquisition And Responsiveness To
             Service-Line Profitability At Short-Term Acute Care
             Hospitals.},
   Journal = {Health Affairs},
   Volume = {40},
   Number = {11},
   Pages = {1697-1705},
   Year = {2021},
   Month = {November},
   url = {http://dx.doi.org/10.1377/hlthaff.2021.00541},
   Abstract = {As private equity firms continue to increase their ownership
             stake in various health care sectors in the US, questions
             arise about potential impacts on the organization and
             delivery of care. Using a difference-in-differences
             approach, we investigated changes in service-line provision
             in private equity-acquired hospitals. Relative to
             nonacquired hospitals, private equity acquisition was
             associated with a higher probability of adding specific
             profitable hospital-based services (interventional cardiac
             catheterization, hemodialysis, and labor and delivery),
             profitable technologies (robotic surgery and digital
             mammography), and freestanding or satellite emergency
             departments. Moreover, private equity acquisition was
             associated with an increased probability of providing
             services that were previously categorized as unprofitable
             but that have more recently become areas of financial
             opportunity (for example, mental health services). Finally,
             private equity-acquired hospitals were less likely to add or
             continue services that have unreliable revenue streams or
             that may face competition from nonprofit hospitals (for
             example, outpatient psychiatry), although fewer shifts were
             noted among unprofitable services. This may reflect a
             prevailing shift by acute care hospitals toward outpatient
             settings for appropriate procedures and synergies with
             existing holdings by private equity firms.},
   Doi = {10.1377/hlthaff.2021.00541},
   Key = {fds361184}
}

@article{fds325935,
   Author = {Sweeting, A and Roberts, JW and Gedge, C},
   Title = {A model of dynamic limit pricing with an application to the
             airline industry},
   Pages = {1148-1193},
   Year = {2020},
   Month = {March},
   url = {http://dx.doi.org/10.1086/704760},
   Abstract = {We develop a dynamic limit pricing model where an incumbent
             repeatedly signals information relevant to a potential
             entrant’s expected profitability. The model is tractable,
             with a unique equilibrium under refinement, and dynamics
             contribute to large equilibrium price changes. We show that
             the model can explain why incumbent airlines cut prices
             dramatically on routes threatened with entry by Southwest,
             presenting new reduced-form evidence and a calibration that
             predicts a pattern of price changes across markets similar
             to the one observed in the data. We use our calibrated model
             to quantify the welfare effects of asymmetric information
             and subsidies designed to encourage Southwest’s
             entry.},
   Doi = {10.1086/704760},
   Key = {fds325935}
}

@article{fds348895,
   Author = {Eliason, PJ and Heebsh, B and McDevitt, RC and Roberts,
             JW},
   Title = {How Acquisitions Affect Firm Behavior and Performance:
             Evidence from the Dialysis Industry},
   Journal = {The Quarterly Journal of Economics},
   Volume = {135},
   Number = {1},
   Pages = {221-267},
   Year = {2020},
   Month = {February},
   url = {http://dx.doi.org/10.1093/qje/qjz034},
   Abstract = {Many industries have become increasingly concentrated
             through mergers and acquisitions, which in health care may
             have important consequences for spending and outcomes. Using
             a rich panel of Medicare claims data for nearly one million
             dialysis patients, we advance the literature on the effects
             of mergers and acquisitions by studying the precise ways
             providers change their behavior following an acquisition. We
             base our empirical analysis on more than 1,200 acquisitions
             of independent dialysis facilities by large chains over a
             12-year period and find that chains transfer several
             prominent strategies to the facilities they acquire. Most
             notably, acquired facilities converge to the behavior of
             their new parent companies by increasing patients' doses of
             highly reimbursed drugs, replacing high-skill nurses with
             less-skilled technicians, and waitlisting fewer patients for
             kidney transplants. We then show that patients fare worse as
             a result of these changes: outcomes such as hospitalizations
             and mortality deteriorate, with our long panel allowing us
             to identify these effects from within-facility or
             within-patient variation around the acquisitions. Because
             overall Medicare spending increases at acquired facilities,
             mostly as a result of higher drug reimbursements, this
             decline in quality corresponds to a decline in value for
             payers. We conclude the article by considering the channels
             through which acquisitions produce such large changes in
             provider behavior and outcomes, finding that increased
             market power cannot explain the decline in quality. Rather,
             the adoption of the acquiring firm's strategies and
             practices drives our main results, with greater economies of
             scale for drug purchasing responsible for more than half of
             the change in profits following an acquisition.},
   Doi = {10.1093/qje/qjz034},
   Key = {fds348895}
}

@article{fds352779,
   Author = {Bayer, P and Geissler, C and Mangum, K and Roberts,
             JW},
   Title = {Speculators and middlemen: The strategy and performance of
             investors in the housing market},
   Pages = {5212-5247},
   Publisher = {Oxford University Press (OUP)},
   Year = {2020},
   Month = {January},
   url = {http://dx.doi.org/10.1093/RFS/HHAA042},
   Abstract = {Using data from the Los Angeles area from 1988 to 2012, we
             study the behavior and sources of returns of individual
             investors in the housing market. We document the existence
             of two distinct investor types. The first act as middlemen,
             purchasing substantially below and reselling above market
             prices throughout the cycle, improving liquidity and the
             existing capital stock in the process. The second act as
             speculators, who primarily enter during the boom, buying and
             selling at essentially market prices. Neither type
             anticipated the housing bust. We document similar behavior
             by speculators and middlemen in 96 other U.S. metro
             areas.},
   Doi = {10.1093/RFS/HHAA042},
   Key = {fds352779}
}

@article{fds325455,
   Author = {Eliason, PJ and Grieco, PLE and McDevitt, RC and Roberts,
             JW},
   Title = {Strategic Patient Discharge: the Case of Long-Term Care
             Hospitals.},
   Pages = {3232-3265},
   Year = {2018},
   Month = {November},
   url = {http://dx.doi.org/10.1257/aer.20170092},
   Abstract = {Medicare's prospective payment system for long-term
             acute-care hospitals (LTCHs) provides modest reimbursements
             at the beginning of a patient's stay before jumping
             discontinuously to a large lump-sum payment after a
             prespecified number of days. We show that LTCHs respond to
             the financial incentives of this system by
             disproportionately discharging patients after they cross the
             large-payment threshold. We find this occurs more often at
             for-profit facilities, facilities acquired by leading LTCH
             chains, and facilities colocated with other hospitals. Using
             a dynamic structural model, we evaluate counterfactual
             payment policies that would provide substantial savings for
             Medicare.},
   Doi = {10.1257/aer.20170092},
   Key = {fds325455}
}

@article{fds343587,
   Author = {Li, Y and Mazur, L and Park, Y and Roberts, JW and Sweeting, A and Zhang,
             J},
   Title = {Endogenous and Selective Service Choices after Airline
             Mergers},
   Year = {2018},
   Month = {January},
   Key = {fds343587}
}

@article{fds320614,
   Author = {Bayer, P and Mangum, K and Roberts, JW},
   Title = {Speculative Fever: Investor Contagion in the Housing
             Bubble},
   Journal = {Economic Research Initiatives at Duke (Erid)},
   Volume = {111},
   Number = {211},
   Pages = {51 pages},
   Year = {2016},
   Month = {February},
   url = {http://dx.doi.org/10.1257/AER.20171611},
   Abstract = {Historical anecdotes of new investors being drawn into a
             booming asset market, only to suffer when the market turns,
             abound. While the role of investor contagion in asset
             bubbles has been explored extensively in the theoretical
             literature, causal empirical evidence on the topic is
             virtually non-existent. This paper studies the recent boom
             and bust in the U.S. housing market, and establishes that
             many novice investors entered the market as a direct result
             of observing investing activity of multiple forms in their
             own neighborhoods, and that “infected” investors
             performed poorly relative to other investors along several
             dimensions.},
   Doi = {10.1257/AER.20171611},
   Key = {fds320614}
}

@article{fds323213,
   Author = {Roberts, JW and Sweeting, A},
   Title = {Bailouts and the preservation of competition: The case of
             the federal timber contract payment modification
             act},
   Journal = {American Economic Journal: Microeconomics},
   Volume = {8},
   Number = {3},
   Pages = {257-288},
   Publisher = {American Economic Association},
   Year = {2016},
   Month = {January},
   url = {http://dx.doi.org/10.1257/mic.20150070},
   Abstract = {We estimate the value of competition in United States Forest
             Service (USFS) timber auctions, in the context of the Reagan
             administration's bailout of firms that faced substantial
             losses on existing contracts. We use a model with endogenous
             entry by asymmetric firms, allowing survivors to respond to
             the exit of bailed-out firms by entering more auctions and
             for these marginal entrants to have lower values than firms
             that would choose to enter in any event, a selective entry
             effect. Observed asymmetries and selective entry contribute
             to us finding that the bailout may have increased USFS
             revenues in subsequent auctions quite substantially.},
   Doi = {10.1257/mic.20150070},
   Key = {fds323213}
}

@article{fds325777,
   Author = {Bayer, PJ and Geissler, C and Mangum, K and Roberts,
             JW},
   Title = {Speculators and Middlemen: The Strategy and Performance of
             Investors in the Housing Market},
   Journal = {Economic Research Initiatives at Duke (Erid) Working
             Paper},
   Number = {93},
   Year = {2015},
   Month = {January},
   Key = {fds325777}
}

@article{fds325934,
   Author = {Bhattacharya, V and Roberts, JW and Sweeting, A},
   Title = {Regulating bidder participation in auctions},
   Journal = {The Rand Journal of Economics},
   Volume = {45},
   Number = {4},
   Pages = {675-704},
   Publisher = {WILEY},
   Year = {2014},
   Month = {December},
   url = {http://dx.doi.org/10.1111/1756-2171.12067},
   Doi = {10.1111/1756-2171.12067},
   Key = {fds325934}
}

@article{fds285766,
   Author = {Mcdevitt, RC and Roberts, JW},
   Title = {Market structure and gender disparity in health care:
             Preferences, competition, and quality of
             care},
   Journal = {The Rand Journal of Economics},
   Volume = {45},
   Number = {1},
   Pages = {116-139},
   Publisher = {WILEY},
   Year = {2014},
   Month = {March},
   ISSN = {0741-6261},
   url = {http://dx.doi.org/10.1111/1756-2171.12044},
   Abstract = {We consider the relationship between market structure and
             health outcomes in a setting where patients have stark
             preferences: urology patients disproportionately match with
             a urologist of the same gender. In the United States,
             however, fewer than 6% of urologists are women despite women
             constituting 30% of patients. We explain a portion of this
             disparity with a model of imperfect competition in which
             urology groups strategically differentiate themselves by
             employing female urologists. These strategic effects may
             influence women's health, as markets without a female
             urologist have a 7.3% higher death rate for female bladder
             cancer, all else equal. © 2014, RAND.},
   Doi = {10.1111/1756-2171.12044},
   Key = {fds285766}
}

@article{fds285767,
   Author = {Roberts, JW},
   Title = {Unobserved heterogeneity and reserve prices in
             auctions},
   Journal = {The Rand Journal of Economics},
   Volume = {44},
   Number = {4},
   Pages = {712-732},
   Publisher = {WILEY},
   Year = {2013},
   Month = {December},
   ISSN = {0741-6261},
   url = {http://dx.doi.org/10.1111/1756-2171.12038},
   Abstract = {This article shows how reserve prices can be used to control
             for unobserved object heterogeneity to identify and estimate
             the distribution of bidder values in auctions. Reserve
             prices are assumed to be monotonic in the realization of
             unobserved heterogeneity, but not necessarily set optimally.
             The model is estimated using transaction prices from a used
             car auction platform to show that the platform enables
             sellers to capture a large fraction of the potential value
             from selling their vehicle. Individual sellers benefit
             mostly from access to a large set of buyers, but the
             magnitude depends on accounting for unobserved
             heterogeneity. © 2014, RAND.},
   Doi = {10.1111/1756-2171.12038},
   Key = {fds285767}
}

@article{fds285768,
   Author = {Roberts, JW and Sweeting, A},
   Title = {When Should Sellers Use Auctions?},
   Journal = {American Economic Review},
   Volume = {103},
   Number = {5},
   Pages = {1830-1861},
   Publisher = {American Economic Association},
   Year = {2013},
   ISSN = {0002-8282},
   url = {http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000322878200009&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=47d3190e77e5a3a53558812f597b0b92},
   Abstract = {A bidding process can be organized so that offers are
             submitted simultaneously or sequentially. In the latter
             case, potential buyers can condition their behavior on
             previous entrants' decisions. The relative performance of
             these mechanisms is investigated when entry is costly and
             selective, meaning that potential buyers with higher values
             are more likely to participate. A simple sequential
             mechanism can give both buyers and sellers significantly
             higher payoffs than the commonly used simultaneous bid
             auction. The findings are illustrated with parameters
             estimated from simultaneous entry USFS timber auctions where
             our estimates predict that the sequential mechanism would
             increase revenue and efficiency.},
   Doi = {10.1257/aer.103.5.1830},
   Key = {fds285768}
}


%% Working Papers   
@article{fds158824,
   Author = {Ben Handel and Kanishka Misra and James W.
             Roberts},
   Title = {Robust Firm Pricing with Panel Data},
   Year = {2009},
   Month = {December},
   Key = {fds158824}
}

@article{fds158821,
   Author = {James W. Roberts},
   Title = {Unobserved Heterogeneity and Reserve Prices in
             Auctions},
   Year = {2009},
   Month = {November},
   Key = {fds158821}
}

@article{fds164577,
   Author = {J.W. Roberts and Ryan C. McDevitt},
   Title = {Gender Disparity in Urology: Preferences, Competition and
             Quality of Care},
   Year = {2009},
   Month = {October},
   Key = {fds164577}
}

@article{fds158822,
   Author = {James W. Roberts},
   Title = {Can Warranties Substitute for Reputations?},
   Year = {2009},
   Month = {June},
   Key = {fds158822}
}

@article{fds158825,
   Author = {Seda Ertac and Ali Hortacsu and James W. Roberts},
   Title = {Entry into Auctions: An Experimental Analysis},
   Year = {2009},
   Month = {June},
   Key = {fds158825}
}