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作者：Fioretti, Michele; Vostroknutov, Alexander; Coricelli, Giorgio
作者单位：Institut d'Etudes Politiques Paris (Sciences Po); Maastricht University; University of Southern California
摘要：In a stock market experiment, we examine how regret avoidance influences the decision to sell an asset while its price changes over time. Participants know beforehand whether they will observe the future prices after they sell the asset or not. Without future prices, participants are affected only by regret about previously observed high prices (past regret), but when future prices are available, they also avoid regret about expected after-sale high prices (future regret). Moreover, as the rel...
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作者：Frankel, Alexander; Kasy, Maximilian
作者单位：University of Chicago; University of Oxford
摘要：Given a scarcity of journal space, what is the optimal rule for whether an empirical finding should be published? Suppose publications inform the public about a policy-relevant state. Then journals should publish extreme results, meaning ones that move beliefs sufficiently. This optimal rule may take the form of a one-or two-sided test comparing a point estimate to the prior mean, with critical values determined by a cost-benefit analysis. Consideration of future studies may additionally justi...
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作者：Anesi, Vincent; Buisseret, Peter
作者单位：University of Luxembourg; Harvard University
摘要：We study the limits of dynamic electoral accountability when voters are uncertain about politicians' characteristics (adverse selection) and their actions (moral hazard). Existing work argues that voters cannot achieve their first-best payoff. This is attributed to inherent deficiencies of the electoral contract, including voters' inability to precommit, and the restriction to a binary retention-replacement decision. We provide conditions under which voters can, despite these constraints, obta...
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作者：Imas, Alex; Kuhn, Michael A.; Mironova, Vera
作者单位：University of Chicago; University of Oregon; Harvard University
摘要：We study the impact of deliberation on intertemporal choices. Using multiple experiments, including a field study in the Democratic Republic of the Congo, we show that the introduction of waiting periods-a policy that temporally separates information about choices from choices themselves-causes substantially less myopic decisions. These results cannot be captured by models of exponential discounting nor present bias. Comparing the effects of waiting periods to making planned choices over futur...
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作者：Che, Xiaogang; LI, Tong; Lu, Jingfeng; Zheng, Xiaoyong
作者单位：City St Georges, University of London; Vanderbilt University; National University of Singapore
摘要：We examine optimal auction design when buyers may receive future outside offers. The winning bidder may choose to default upon observing her outside offer. Under the optimal mechanism, the bidder with the highest value wins if and only if her value is above a cutoff, and the winner never defaults. The optimal auction takes the form of a second-price auction with a reserve price and a deposit by the winning bidder. Under regularity conditions, both the optimal reserve price and the deposit incr...
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作者：Prat, Andrea; Valletti, Tommaso
作者单位：Columbia University; Imperial College London
摘要：We model digital platforms as attention brokers that have proprietary information about their users' product preferences and sell targeted ad space to retail product industries. Retail producers-incumbents or entrants-compete for access to this attention bottleneck. We dis-cuss when increased concentration among attention brokers results in a tightening of the attention bottleneck, leading to higher ad prices, fewer ads being sold to entrants, and lower consumer welfare in the product industri...
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作者：Markovich, Sarit; Yehezkel, Yaron
作者单位：Northwestern University; Tel Aviv University
摘要：We consider platform competition for small users and a user group. One platform enjoys a quality advantage and the other benefits from favorable beliefs. We study whether the group mitigates the users' coordination problem-i.e., joining a low-quality platform because they believe that other users would do the same. We find that a group that can facilitate coordination on the high-quality platform may choose to maintain the dominance of the low-quality one. Users' utility is non-monotonic in th...
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作者：Perez-Saiz, Hector; Xiao, Hongyu
作者单位：International Monetary Fund; University of Pennsylvania; Bank of Canada
摘要：We estimate a perfect information static entry game to study the effect of cultural entry barriers on entry and competition in the retail banking industry. Canada provides a favorable setting for analysis due to its high linguistic diversity, concentrated market, and regulatory entry barriers. We find that cultural affinity between customers and financial institutions that share a common cultural origin plays an important role in explaining the comparative advantages of these institutions in c...
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作者：Dogan, Battal; Ehlers, Lars
作者单位：University of Bristol; Universite de Montreal; Universite de Montreal
摘要：In the context of priority-based allocation of objects , we formulate methods to compare assignments in terms of their stability. We intro-duce three basic properties that a reasonable stability comparison should satisfy. We show that for any stability comparison satisfy-ing the three properties , the top trading cycles mechanism is mini-mally unstable among efficient and strategy-proof mechanisms when objects have unit capacities. Our unifying approach covers basically all natural stability c...
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作者：Dur, Umut; Pathak, Parag A.; Song, Fei; Sonmez, Tayfun
作者单位：North Carolina State University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Boston College
摘要：This paper analyzes the Taiwan mechanism used nationwide for high school assignment starting in 2014. In the Taiwan mechanism, points are deducted from an applicant's score, with larger penalties for lower-ranked choices. Deduction makes the mechanism a hybrid of the Boston and deferred acceptance mechanisms. Our analysis sheds light on why Taiwan's new mechanism has led to massive nationwide demonstrations and why it nonetheless remains in use.
