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作者：Reinganum, Jennifer F.; Daughety, Andrew F.
作者单位：Vanderbilt University
摘要：We develop a model wherein concerns about prosecutor quality reduce the willingness of witnesses to cooperate with prosecutors. This causes an increase in the crime rate and in wrongly convicted innocent defendants. Because citizens are taxpayers and may be victims, perpetrators, witnesses, or falsely accused defendants, they care about the prosecutor's quality. They update beliefs about this quality based on the disposition of cases. If the prosecutor's believed quality falls below a threshol...
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作者：Ganapati, Sharat
作者单位：Georgetown University
摘要：American industries have grown more concentrated over the last 40 years. In the absence of productivity innovation, this should lead to price hikes and output reductions, decreasing consumer welfare. With US census data from 1972 to 2012, I use price data to disentangle revenue from output. Industry-level estimates show that concentration increases are positively correlated to productivity and real output growth, uncorrelated with price changes and overall payroll, and negatively correlated wi...
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作者：Fleurbaey, Marc; van der Linden, Martin
作者单位：Princeton University; Emory University
摘要：We study fairness in economies where humans consume one private good and one public good representing the welfare of other species. We show that a social evaluator cannot be egalitarian with respect to humans while always respecting humans' unanimous preferences. One solution is to respect unanimous preferences only when doing so does not lead to a decrease in the welfare of other species. Social preferences satisfying these properties reveal surprising connections between concerns for other s...
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作者：Aygun, Orhan; Bo, Inacio
作者单位：Bogazici University; Southwestern University of Finance & Economics - China
摘要：In 2012, Brazilian public universities were mandated to use affirmative action policies for candidates from racial and income minorities. We show that the policy makes the students' affirmative action status a strategic choice and may reject high-achieving minority students while admitting low-achieving majority students. Empirical data shows evidence consistent with this type of unfairness in more than 49 percent of the programs. We propose a selection criterion and an incentive-compatible me...
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作者：Backus, Matthew; Conlon, Christopher; Sinkinson, Michael
作者单位：Columbia University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; New York University; Yale University
摘要：We empirically assess the implications of the common ownership hypothesis from a historical perspective using the set of S&P 500 firms from 1980 to 2017. We show that the dramatic rise in common ownership in the time series is driven primarily by the rise of indexing and diversification and, in the cross section, by investor concentration, which the theory presumes to drive a wedge between cash flow rights and control. We also show that the theory predicts incentives for expropriation of undiv...
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作者：Fleurbaey, Marc; Zuber, Stephane
作者单位：Paris School of Economics; Universite PSL; Ecole Normale Superieure (ENS); Paris School of Economics
摘要：Utilitarianism plays a central role in economics, but there is a gap between theory, where utilitarianism is dominant, and applications, where monetary criteria are often used. For applications, a key difficulty is to define how utilities should be measured and compared. Drawing on Harsanyi's (1955) approach, we introduce a new normalization of utilities ensuring that: (i) a transfer from a rich population to a poor population is welfare enhancing, and (ii) populations with more risk-averse pe...
