Lorenzo Magnolfi

I am an Assistant Professor in the Department of Economics at the University of Wisconsin-Madison.

I do research in empirical industrial organization and econometrics of games: see my research statement (updated: August, 2025) for a description of my research agenda.

Here is my CV.

Published Papers

1. The Competitive Conduct of Consumer Cooperatives (with M. Duarte and C. Roncoroni)
   RAND Journal of Economics, March 2025 [Preprint] [Video]

2. Triplet Embeddings for Demand Estimation (with J. McClure and A. Sorensen)
   American Economic Journal: Microeconomics, February 2025 [SSRN]
   📄Extended Abstract in Proceedings of the 23rd ACM Conference on Economics and Computation [EC’22].

3. Testing Firm Conduct (with M. Duarte, M. Sølvsten, and C. Sullivan)
   Quantitative Economics, July 2024 [arXiv]

4. The Rise of Urgent Care Centers (with C. Mommaerts, N. Serna, and C. Sullivan)
   Journal of Political Economy Microeconomics, May 2024 [Preprint]

5. Estimation of Discrete Games with Weak Assumptions on Information (with C. Roncoroni)
   Review of Economic Studies, July 2023 [Featured Article] [Preprint]
   🏆 Young Economists’ Essay Award (EARIE 2016), Young Economist Prize (JEI 2016)

6. Differentiated-Products Cournot Attributes Higher Markups Than Bertrand-Nash (with D. Quint, C. Sullivan, and S. Waldfogel)
   Economics Letters, October 2022 [Preprint]

7. A Comparison of Testing and Estimation of Firm Conduct (with C. Sullivan)
   Economics Letters, March 2022 [Preprint]

8. Regulatory Competition and the Market for Corporate Law (with O. Eldar)
   American Economic Journal: Microeconomics, May 2020 [SSRN]
   📰 Featured on Harvard Law School Forum on Corporate Governance

Working Papers

1. Estimation of Games under No Regret: Structural Econometrics for AI (with N. Lomys)
   R&R at Journal of Political Economy [SSRN] | NET Institute Working Paper #24-05
   📄Extended Abstract in Proceedings of the 26th ACM Conference on Economics and Computation [EC’25]

2. Conduct and Scale Economies: Evaluating Tariffs in the US Automobile Market (with M. Duarte, M. Sølvsten, D. Quint, and C. Sullivan)

3. Learning Firm Conduct: Pass-Through as a Foundation for Instrument Relevance (with A. Dearing, D. Quint, C. Sullivan, and S. Waldfogel) [NBER Working Paper #32863]
   This paper supersedes Falsifying Models of Firm Conduct, with D. Quint, C. Sullivan, and S. Waldfogel.

4. Platform Switching Policies under Collusion: Unintended Consequences for Digital Platforms (with J. Higgins, D. Quint, and C. Sullivan)

5. Testing Information Ordering for Strategic Agents (with S. Han and H. Kaido) [arXiv]

6. An Equilibrium Model of Rollover Lotteries (with G. Compiani and L. Smith)

7. Political Connections and Market Structure (with C. Roncoroni)
   🏆 Public Utility Research Prize (IIOC 2017) Resting, for now

Work in Progress

1. Market Counterfactuals with Nonparametric Supply: An ML/AI Approach (with H. Chiang, J. Collison, and C. Sullivan) [slides]
   📄Extended abstract in Proceedings of the 26th ACM Conference on Economics and Computation [EC’25]

2. Robust Identification in Repeated Games: An Empirical Approach to Algorithmic Competition (A. Cozzolino, C. Gualdani, I. Gufler, and N. Lomys)

Software

• pyRVtest: Python Package for Testing Firm Conduct (with M. Duarte, M. Sølvsten, C. Sullivan, and A. Tarascina) [GitHub]

Contact

Email: magnolfi@wisc.edu

Office: Room 6426, 1180 Observatory Drive, Madison, WI 53706-1393