Rafael R. Guthmann

I am an economist Ph.D. from the University of Minnesota. I am on the 2021-22 economics job market.

My work has focused on studying the intersection between the fields of economics of information, learning, and unawareness with competition, market design, and frictions of trading. That is the implications of how decision-makers' actions are constrained by their information. More specifically, consider a decision-maker. This decision-maker has access to a set of options that they can consider in the formulation of their plans. I am interested in the implications of the assumptions that we make about this set of options regarding the allocation of resources in the economy. I am also interested in the ramifications of this research agenda to public economics and models of economic development.

Contact: rafaelguthmann at hotmail dot com

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My substack (i.e. blog): Rafael’s Commentary

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My job market paper:

Price Dispersion in Dynamic Competition

Substantial price dispersion exists for transactions of physically identical goods, and in these markets, incumbent sellers sell at higher prices than entrants. This study develops a theory of dynamic competition that explains these facts as results from the same fundamental friction: buyers are imperfectly aware of which sellers are operating, and the degree of awareness about a seller is endogenous. The equilibrium is unique and approximately efficient, featuring randomized pricing strategies where incumbents post higher prices than entrants. The equilibrium converges to a stationary equilibrium. If buyers' awareness does not depreciate and the exit rate of sellers converges to zero, then the stationary equilibrium converges to perfect competition.