-
作者：Shiller, Benjmian Reed
作者单位：Brandeis University
摘要：A consumer's web-browsing history, now readily available, may be much more useful than demographics for both targeting advertisements and personalizing prices. Using a method that combines economic modeling and machine learning methods, I find a striking difference. Personalizing prices based on web-browsing histories increases profits by 12.99%. Using demographics alone to personalize prices raises profits by only 0.25%, suggesting the percent profit gain from personalized pricing has increas...
-
作者：Nakajima, Makoto; Telyukova, Irina A.
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
摘要：Retired homeowners dissave more slowly than renters, which suggests that homeownership affects retirees' saving decisions. We investigate empirically and theoretically the life-cycle patterns of homeownership, housing, and nonhousing assets in retirement. Using an estimated structural model of saving and housing decisions, we find first that homeowners dissave slowly because they prefer to stay in their house as long as possible but cannot easily borrow against it. Second, the 1996-2006 housin...
-
作者：Abbring, Jaap H.; Daljord, Oystein
作者单位：Tilburg University; University of Chicago
摘要：Fang and Wang's (2015) Proposition 2 claims generic identification of a dynamic discrete choice model with hyperbolic discounting under exclusion restrictions. We note that Proposition 2 uses a definition of generic that does not preclude that a generically identified model is nowhere identified. We provide two examples of models that are generically identified under this definition, but that are, respectively, everywhere and nowhere identified. We then show that the proof of Proposition 2 is ...
-
作者：Reis, Hugo
作者单位：Banco de Portugal
摘要：The article develops and estimates a dynamic structural model of girls' school-going decisions and mother's labor market participation. It seeks to determine the causes of low school participation and to evaluate alternative public policies. The model incorporates mother's education, school availability, the productivity of the girl when engaged in household production, and the potential trade-off between mother's and daughter's housework decisions. Our findings suggest that school constructio...
-
作者：Banzhaf, H. Spencer
作者单位：National Bureau of Economic Research; University System of Georgia; Georgia State University
摘要：Traditional cross-sectional estimates of hedonic price functions can recover marginal willingness to pay for characteristics, but face endogeneity problems for estimating nonmarginal welfare measures. This article shows that when panel data on household demands are available, one can construct a second-order approximation to nonmarginal welfare measures using only the first-stage marginal prices. With repeated cross sections of product prices, the measure can be set identified or, under a sing...
-
作者：Reddy, Karthik; Schularick, Moritz; Skreta, Vasiliki
作者单位：Harvard University; University of Bonn; University of Texas System; University of Texas Austin; Centre for Economic Policy Research - UK; University of London; University College London; New York University; Harvard University; University of Texas System; University of Texas Austin
摘要：Legal provisions that protect elected politicians from prosecution have been common throughout history and still exist in most democracies. We provide the first systematic measurement of immunity and study, theoretically and empirically, its relation to corruption. Theory predicts that immunity is a double-edged sword. To test whether immunity is a vice or a virtue, we quantify immunity enjoyed by heads of government, ministers, and legislators in 90 countries. Controlling for standard determi...
-
作者：Lessem, Rebecca; Sanders, Carl
作者单位：Carnegie Mellon University; Indiana University System; Indiana University Bloomington
摘要：Immigrants to the United States routinely take jobs below their skill qualifications because of barriers to entering occupations. We use a structural model of immigrant job choice to quantify the benefits of potential policies to promote entry into suitable occupations. We estimate the model using longitudinal labor market data on immigrants to the United States. Our counterfactual results show that eliminating barriers to occupational entry would lead to only a small earnings increase for the...
