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作者：Maniadis, Zacharias; Tufano, Fabio
作者单位：University of Southampton; University of Nottingham
摘要：To address the increasing concern about research reproducibility, cross-fertilisation across economics and other disciplines is likely to have far-reaching benefits. Our brief summary focuses on two areas in which a mutual investment in investigating possible cross-disciplinary synergies could benefit the scientific endeavour as a whole. First, the discipline of economic design has much to contribute to the discussion of possible reforms in science. Second, the empirical methodology of meta-re...
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作者：Asparouhova, Elena; Bossaerts, Peter
作者单位：Utah System of Higher Education; University of Utah; University of Melbourne
摘要：In dark markets, order submissions are bilateral, and transaction prices are known only to the trading counterparties. Here, we study to what extent the information aggregation theory proposed by Duffie and collaborators predicts outcomes in a laboratory version of such markets. We find that prices aggregate the available information but not in the strict sense of the theory, where prices converge exponentially fast to average private signals. Prices instead fluctuate within bands around this ...
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作者：Folke, Olle; Persson, Torsten; Rickne, Johanna
作者单位：Uppsala University; Research Institute of Industrial Economics (IFN); Stockholm University; Canadian Institute for Advanced Research (CIFAR)
摘要：We exploit close elections in Swedish municipalities to test whether relatives of politicians who become mayors obtain economic benefits. We find no benefits for the siblings of new mayors, but the average earnings of children of newly appointed mayors rise by about 15%. Administrative information on occupational and residence status show that the higher earnings are unlikely reflect an illegitimate allocation of jobs. But the evidence suggests that children of election-winning mayors are more...
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作者：Cramton, Peter; Ockenfels, Axel
作者单位：University System of Maryland; University of Maryland College Park; University of Cologne
摘要：The 2010 German 4G spectrum auction was an unusually large simultaneous ascending multi-band auction. The bidding was competitive and the final assignment was efficient. However, our analysis suggests that independent and rational bidders had an opportunity to coordinate implicitly on a low-revenue outcome. Coordination was difficult, though, because of a multiplicity of focal points. One important focal point involved post-auction negotiations, posing risks to bidders and the auctioneer. We a...
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作者：Di Tillio, Alfredo; Ottaviani, Marco; Sorensen, Peter Norman
作者单位：Bocconi University; University of Copenhagen
摘要：We investigate the impact of conflicts of interests on randomised controlled trials in a game-theoretic framework. A researcher seeks to persuade an evaluator that the causal effect of a treatment outweighs its cost, to justify acceptance. The researcher can use private information to manipulate the experiment in three alternative ways: (i) sampling subjects based on their treatment effect, (ii) assigning subjects to treatment based on their baseline outcome, or (iii) selectively reporting exp...
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作者：Greve, Thomas; Pollitt, Michael G.
作者单位：University of Cambridge
摘要：We present an auction design to be used in the area of procurement that allows the length of the regulatory funding period to be determined via an auction. It allows bidders to submit bids against a payment for periods of varying lengths, say 25 and 30 years, instead of a fixed 20-year contract. This can be desirable for securing more favourable terms in financial markets. It yields efficiency and delivers the optimal length of contract, defined as where social value is maximised. The auction ...
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作者：Ahlfeldt, Gabriel M.; Moeller, Kristoffer; Waights, Sevrin; Wendland, Nicolai
作者单位：Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science; Technical University of Darmstadt; Technical University of Berlin
摘要：We develop a simple theory of the conservation area designation process in which we postulate that the level of designation is chosen to comply with interests of local homeowners. Conservation areas provide benefits to local homeowners by reducing uncertainty regarding the future of their area. The restrictions, however, impose a cost by limiting the degree to which properties can be altered. In line with our model predictions we find that an increase in preferences for historic character by t...
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作者：Geys, Benny
作者单位：BI Norwegian Business School
摘要：This article focuses on political dynasties' potential consequences, and particularly investigates whether and when they lead to the selection of dynastic politicians with relatively lower education levels. I exploit the different electoral constraints faced by distinct subsets of Italian local politicians to identify whether weaker constraints on political selection processes induce the selection of dynastic politicians with lower education levels relative to their non-dynastic peers. The ana...
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作者：Rossi, Martin A.
摘要：I investigate the relationship between tenure length in the House and posterior political success. I exploit a natural experiment in the Argentine Congress - where terms length were assigned randomly after the return to democracy - that provides a source of exogenous variation to initial political power. I find that having a longer tenure in the House increases both the probability of moving to higher political positions and the probability of having a relative in future congresses. I also fin...
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作者：Bao, Te; Hommes, Cars; Makarewicz, Tomasz
作者单位：Nanyang Technological University; University of Groningen; University of Amsterdam; Tinbergen Institute
摘要：This experiment compares the price dynamics and bubble formation in an asset market with a price adjustment rule in three treatments where subjects: (1) submit a price forecast only; (2) choose quantity to buy/sell and (3) perform both tasks. We find deviation of the market price from the fundamental price in all treatments, but to a larger degree in treatments (2) and (3). Mispricing is therefore a robust finding in markets with positive expectation feedback. Some very large, recurring bubble...
