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作者：Abramitzky, Ran; Einav, Liran; Kolkowitz, Shimon; Mill, Roy
作者单位：Stanford University; National Bureau of Economic Research; Harvard University
摘要：We study professional tennis players decisions of whether to challenge umpires calls using data on over 2,000 challenges in 35 tennis tournaments. The decision to challenge, which is simple to characterize, trades off reversing the umpires call against losing subsequent challenge opportunities. Qualitatively, players are more likely to challenge when the stakes are greater and when the option value of challenging is lower, as theory predicts. Quantitatively, players actual behavior is close to...
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作者：Egger, Hartmut; Egger, Peter; Markusen, James R.
作者单位：University of Colorado System; University of Colorado Boulder; University of Bayreuth; Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We formulate a two-country model with monopolistic competition and heterogeneous firms to reconsider labor market linkages in open economies. Labor market imperfections arise by virtue of country-specific real minimum wages. Abstracting from selection of just the best firms into export status, standard effects on marginal and average firm productivity are reversed in our model, yet there are significant gains from trade arising from employment expansion. In addition, we show that with firm het...
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作者：Myojo, Satoshi; Kanazawa, Yuichiro
作者单位：Kobe University; University of Tsukuba
摘要：We derive asymptotic properties of an estimator for supply and demand models extended with additional moments relating consumer demographics to the characteristics of purchased products. We clarify the structure of a practical sampling scheme in which the extended estimator is consistent, asymptotically normal, and more efficient than the original estimator. We provide conditions guaranteeing the asymptotic theorems hold for the random coefficient logit model of demand with oligopolistic suppl...
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作者：Bhatt, Vipul; Ogaki, Masao
作者单位：Keio University; James Madison University
摘要：This article develops and studies a tough love model of intergenerational altruism. We model tough love by modifying the Barro-Becker standard altruism model in two ways. First, the childs discount factor is endogenously determined, so lower childhood consumption leads to a higher discount factor later in life. Second, the parent evaluates the childs lifetime utility with a constant high discount factor. Our model predicts that parental transfers will fall when the childs discount factor falls...
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作者：Chen, Yongmin; Hua, Xinyu
作者单位：Hong Kong University of Science & Technology; University of Colorado System; University of Colorado Boulder; Zhejiang University
摘要：A firm can increase product safety through ex ante investment and can remedy quality problems after sales. An increase in product liability raises returns to ex ante investment through higher consumer demand, but may also negatively affect the investment incentive due to more ex post remedial activities. The trade-off between these output and substitution effects can result in an inverted U-shaped relationship between product liability and ex ante investment. We find that the firm prefers full...
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作者：Carare, Octavian
摘要：This article uses daily data on the ranking by sales of the top 100 apps sold through Apples App Store to provide evidence of the causal impact of todays bestseller rank information on tomorrows demand. The estimates indicate that the willingness to pay of consumers is about $4.50 greater for a top ranked app than for the same unranked app. The results also indicate that the effects of bestseller status on willingness to pay decline steeply with rank at the top ranks, but remain economically s...
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作者：van Ommeren, Jos; Wentink, Derk
作者单位：Vrije Universiteit Amsterdam; Tinbergen Institute
摘要：It has been argued that distortionary tax policies, which stipulate that employer parking is not taxed as a benefit in kind, as well as minimum parking requirements induce welfare losses. Using Dutch data, we show that current tax policies induce welfare losses of about 10% of employer parking resource costs. Hypothetical minimum parking requirements for employers, at levels currently applied in the United States, induce an additional deadweight loss of 18% of employer parking resource costs.
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作者：Herrendorf, Berthold; Schmitz, James A., Jr.; Teixeira, Arilton
作者单位：Arizona State University; Arizona State University-Tempe; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis
摘要：We return to two questions concerning the 19th century U.S. transportation revolution. First, to what extent were transportation improvements responsible for the large changes in the regional distribution of population in the United States and, within regions, for the changes in industry structure? Second, how important were transportation improvements for welfare gains? We find that transport improvements were the key factor driving where people lived and what industry they worked in. We also...
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作者：Guillen, Pablo; Kesten, Onur
作者单位：Carnegie Mellon University; University of Sydney
摘要：We consider a common indivisible good allocation problem whose popular applications include on-campus housing, kidney exchange, and school choice. We show that the so-called New House 4 (NH4) mechanism, which has been in use at MIT since the 1980s, is equivalent to a natural adaptation of the well-known GaleShapley (GS) mechanism. We run two experiments comparing NH4 with the prominently advocated Top Trading Cycles (TTC) mechanism and NH4 with GS. We find that under NH4, the participation rat...
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作者：Markiewicz, Agnieszka
作者单位：Erasmus University Rotterdam; Erasmus University Rotterdam - Excl Erasmus MC
摘要：This article proposes an explanation for shifts in the volatility of exchange-rate returns. Agents are uncertain about the true data generating model and deal with this uncertainty by making inference on the models and their parameters' approach, I call model learning. Model learning may lead agents to focus excessively on a subset of fundamental variables. Consequently, exchange-rate volatility is determined by the dynamics of these fundamentals and changes as agents alter models. I investiga...
