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作者：Zubrickas, Robertas
作者单位：University of Zurich
摘要：The teacher-student relationship is modeled as an agency problem, where teachers are concerned with human capital formation and students with ability signaling. We distinguish between two cases depending on whether in ability inference the job market can or cannot observe the grading rule applied. We show that many empirical grading patterns, including grade compression and inflation, are all consistent with optimal ability screening when grading rules are unobservable. With observable grading...
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作者：Dusha, Elton
作者单位：Universidad de Chile
摘要：I model the role of intermediaries in corruption and examine the effects of policy on the level of intermediated corruption, price of permits, and welfare. Intermediaries with a history of being honest earn higher premiums. The frequency of corrupt transactions is inversely related to income levels. When the government increases the fraction of profits that it extracts from entrepreneurs, intermediation intensifies, as entrepreneurs are reluctant to obtain licenses through legal means. Therefo...
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作者：Byrne, David P.
作者单位：University of Melbourne
摘要：Research on differentiated products markets often uses structural demand/supply models to identify firms' marginal costs as product-level cost data are unavailable. Using unique demand and cost data from cable TV, I evaluate a differentiated products model's ability to identify marginal costs. I find firms systematically price below profit-maximizing levels, leading to biases in the model's marginal cost estimates. I study the implications for merger simulations and find that these biases comp...
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作者：Hori, Takeo; Ikefuji, Masako; Mino, Kazuo
作者单位：Aoyama Gakuin University; University of Southern Denmark; Kyoto University
摘要：Using a simple, multisector model of endogenous growth, we show that commodity-specific consumption externalities can be a source of structural change. When the degrees of consumption externalities are different between goods, each sector grows at a different rate. However, the aggregate economy exhibits balanced growth in that capital stock and expenditure grow at the same constant rate. A three-sector version of our model may reconcile Kaldor's stylized facts with empirically plausible profi...
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作者：Ho, Chun-Yu
作者单位：Shanghai Jiao Tong University
摘要：This article develops and estimates a dynamic model of consumer demand for deposits in which banks provide differentiated products and product characteristics that evolve over time. The switching cost is 0.8% of the deposit's value, which leads the static model to bias the demand estimates. The dynamic model shows that the price elasticity over a long time horizon is larger than the same elasticity over a short time horizon. Counterfactual experiments with a dynamic monopoly show that reducing...
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作者：Moraga-Gonzalez, Jose L.; Viaene, Jean-Marie
作者单位：Vrije Universiteit Amsterdam; University of Groningen; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam
摘要：We examine an export game where two (home and foreign) firms produce vertically differentiated products. The foreign firm is more R&D efficient and is based in a larger and richer market. The unique (risk-dominant) Nash equilibrium exhibits intra-industry trade, and the foreign producer manufactures a higher-quality product. When transport costs are low, unilateral dumping by the foreign firm arises; otherwise, reciprocal dumping occurs. For some parameters, a domestic antidumping policy leads...
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作者：Bond, Eric W.; Tybout, James; Utar, Hale
作者单位：Vanderbilt University; Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; National Bureau of Economic Research; University of Bielefeld
摘要：Relative to their counterparts in high-income regions, entrepreneurs in developing countries face less efficient financial markets, more volatile macroeconomic conditions, and higher entry costs. This article develops a dynamic empirical model that links these features of the business environment to cross-firm productivity distributions, entrepreneurs' welfare, and patterns of industrial evolution. Fit to panel data on Colombian apparel producers, the model yields estimates of a credit market ...
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作者：Burguet, Roberto; Caminal, Ramon
作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); Barcelona School of Economics
摘要：We study approval rules in a model where horizontal merger proposals arise endogenously as the outcome of negotiations among the firms in the industry. We make two main points. First, relatively inefficient merger proposals succeed with positive probability. That is, the negotiation process may result in a particular merger agreement despite the existence of an alternative one that would generate higher profits and higher consumer surplus. Second, the antitrust authority should optimally commi...
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作者：Butler, Jeffrey V.; Giuliano, Paola; Guiso, Luigi
作者单位：Nevada System of Higher Education (NSHE); University of Nevada Las Vegas; University of California System; University of California Los Angeles
摘要：Individuals' beliefs about the trustworthiness of a generic member of the population are both heterogeneous across individuals and persistent across generations. We investigate one mechanism yielding these dual patterns: false consensus. In the context of a trust game experiment, we show that the relationship between behavior and beliefs is consistent with individuals extrapolating their trust beliefs from their own trustworthiness and that this tendency continues even after substantial learni...
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作者：Beauchamp, Andrew
作者单位：Boston College; University System of Ohio; Wright State University Dayton
摘要：The U.S. abortion market has grown increasingly concentrated recently, while many states tightened abortion laws. Using data on abortion providers, I estimate an equilibrium model of demand, price competition, entry and exit, to capture the effect of regulation on industry dynamics. Estimates show regulations played an important role in determining the abortion market structure and evolution. Counterfactual simulations reveal increases in demand-aimed regulation were the most important observe...
