Competition and Anomalies Redux: Evidence from U.S. Auto Dealers

The central trade-off for designing Disability Insurance (DI) is between providing insurance to those in need while maintaining incentives to work. This paper develops a novel revealed-preference approach to identify the insurance value of DI benefits. We show that comparing the DI take-up response to a change in benefits versus a change in wages identifies…

Both historically and today, support of aging parents has largely taken the form of in-kind transfers that require physical proximity, such as housing and caregiving. If Social Security substitutes for such support, it can relax constraints on where recipients’ children live and work. We investigate the long-run intergenerational effects of the early Social Security program,…

Elon Musk and Sam Altman criticized each other in new posts on X, highlighting the billionaires’ long-standing tussle over OpenAI’s evolution. Musk and Altman helped to start OpenAI in 2015 as a nonprofit artificial intelligence research lab alongside a band of engineers and scientists. In 2018, Musk left OpenAI’s board after donating tens of millions…

Sebastian Siemiatkowski, CEO and co-founder of Swedish fintech Klarna, gives an interview with CNBC during the company’s initial public offering at the New York Stock Exchange in New York, Sept. 10, 2025. Brendan Mcdermid | Reuters Klarna, the Swedish fintech firm best known for its buy now, pay later offerings, said Monday it applied to…

A Zipline precision drone with a delivery pod underneath. Zipline South San Francisco startup Zipline is adding former Tesla and Waymo execs to its C-suite, and bringing on a former Uber executive to lead its commercial expansion, as the company scales its drone delivery service into new U.S. and international markets. Since Zipline started up…

Minutes Item 1 – Introduction and background The Chair opened the meeting, highlighting the importance of the decisions to be made in selecting a shortlist of wildlife, thanking panel members for their involvement, and asking them to introduce themselves. The team outlined trends in cash demand, highlighting the continued role played by cash in society,…