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作者：Engelbrecht-Wiggans, R; List, JA; Reiley, DH
作者单位：University of Chicago; University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; University of Arizona
摘要：Recent auction theory and experimental results document strategic demand reduction by bidders in uniform-price auctions. The present article extends this area of research to consider the effects of varying the number of bidders. Our theoretical model predicts that demand reduction should decrease with an increase in the number of bidders. Considerable demand reduction remains even in the asymptotic limit, although truthful bidding yields profits very close to those of equilibrium play. We expe...
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作者：Ackerberg, DA; Machado, MP; Riordan, MH
作者单位：University of California System; University of California Los Angeles; Universidad Carlos III de Madrid; Columbia University
摘要：A methodology is developed and applied to compare the performance of publicly funded agencies providing treatment for alcohol abuse in Maine. The methodology estimates a Wiener process that determines the duration of completed treatments, while allowing for agency differences in the effectiveness of treatment, costs of treatment, standards for completion of treatment, patient attrition, and the characteristics of patient populations. Notably, the Wiener process model separately identifies agen...
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作者：Cuadras-Morató, X; Mateos-Planas, X
作者单位：University of Southampton; Pompeu Fabra University
摘要：This article studies simultaneous changes in four labor market variables: the unemployment rates for college and high-school graduates, the education wage premium, and the level of college participation. It develops an equilibrium search and matching model of the labor market where education is endogenously determined. Then the model is used to investigate quantitatively whether the change in the above labor market variables from 1970 to 1990 in the United States can be traced to changes in th...
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作者：Chang, YS; Kim, SB
作者单位：Seoul National University (SNU); Federal Reserve System - USA; Federal Reserve Bank - Richmond; Concordia University - Canada
摘要：At the aggregate level, the labor-supply elasticity depends on the reservation-wage distribution. We present a model economy where workforce heterogeneity stems from idiosyncratic productivity shocks. The model economy exhibits the cross-sectional earnings and wealth distributions that are comparable to those in the micro data. We find that the aggregate labor-supply elasticity of such an economy is around 1, greater than a typical micro estimate.
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作者：Rendon, S
作者单位：Instituto Tecnologico Autonomo de Mexico
摘要：This article examines the relationship between wealth accumulation and job search dynamics. It proposes a model in which risk-averse individuals search for jobs, save, and borrow to smooth their consumption. One motivation for accumulating wealth is to finance voluntary quits in order to search for better jobs. Using data on men from the National Longitudinal Survey (1979 cohort), I estimate the individual's dynamic decision problem. The results show that borrowing constraints are tight and re...
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作者：Gossner, O; Melissas, N
作者单位：University of Leicester
摘要：We introduce cheap talk in a dynamic investment model with information externalities. We first show how social learning adversely affects the credibility of cheap talk messages. Next, we show how an informational cascade makes truth-telling incentive compatible. A separating equilibrium only exists for high-surplus projects. Both an investment subsidy and an investment tax can increase welfare. The more precise the sender's information, the higher her incentives to truthfully reveal her privat...
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作者：Haag, M; Lagunoff, R
作者单位：Georgetown University; University of Warwick
摘要：This article examines optimal social linkage when each individual's repeated interaction with each of his neighbors creates spillovers. Each individual's discount factor is randomly determined. A planner chooses a local interaction network or neighborhood design before the discount factors are realized. Each individual then plays a repeated Prisoner's Dilemma game with his neighbors. A local trigger strategy equilibrium (LTSE) describes an equilibrium in which each individual conditions his co...
