The authors thank Weixuan Wang and Sirui Yu for superb research assistance. Discussions with Pol Antras, David Atkin, Orley Ashenfelter, Alberto Cavallo, Allan Collard-Wexler, Jonathan Dingel, Teresa Fort, Amit Khandelwal, Robbie Minton, and Bradley Setzler have substantially improved this paper. We are very grateful to COLA Cloud for providing access to their data on Certificates of Label Approval (COLAs). Any opinions and conclusions expressed herein are those of the authors and do not necessarily represent the views of the Board of Governors, its research staff, or the National Bureau of Economic Research.
Ali Hortaçsu has done consulting work in the retail industry, without relation to this research project.