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作者：Berry, Steven; Jia, Panle
作者单位：Yale University; Massachusetts Institute of Technology (MIT)
摘要：The US airline industry went through tremendous turmoil in the early 2000s, with four major bankruptcies, two major mergers, and various changes in network structure. This paper presents a structural model of the industry, and estimates the impact of demand and supply changes on profitability. Compared with 1999, we find that, in 2006, air-travel demand was 8 percent more price sensitive, passengers displayed a stronger preference for nonstop flights, and changes in marginal cost significantly...
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作者：Keane, Michael P.; Merlo, Antonio
作者单位：University of Technology Sydney; University of Pennsylvania
摘要：We assess the impact of a variety of policies that may influence the career decisions of members of the US Congress. These policies alter incentives to run for re-election, run for higher office or leave Congress, by altering wages, non-pecuniary rewards and career prospects (both in and out of Congress). We find that the effect of most policies varies considerably across different types of politicians. For example, a reduction in the congressional wage would disproportionately induce exit fro...
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作者：Hopkins, Ed; Kornienko, Tatiana
作者单位：University of Edinburgh
摘要：We introduce a new distinction between inequality in initial endowments (e.g., ability, inherited wealth) and inequality of what one can obtain as rewards (e.g., prestigious positions, money). We show that, when society allocates resources via tournaments, these two types of inequality have opposing effects on equilibrium behavior and well-being. Greater inequality of rewards hurts most people both the middle class and the poor who are forced into greater effort. Conversely, greater inequality...
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作者：Kagel, John H.; Lien, Yuanchuan; Milgrom, Paul
作者单位：University System of Ohio; Ohio State University; California Institute of Technology; Stanford University
摘要：We use theory and experiment to explore the performance of multiround, price-guided, combinatorial auctions. We define efficiency-relevant and core-relevant packages and show that if bidders bid aggressively on these and losing bidders bid to their limits, then the auction leads to efficient or core allocations. We study the theoretically relevant behaviors and hypothesize that subjects will make only a few significant bids, and that certain simulations with auto-bidders will predict variation...
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作者：von Lilienfeld-Toal, Ulf; Mookherjee, Dilip
作者单位：Stockholm School of Economics; Boston University
摘要：What are the effects of restricting bonded labor clauses in tenancy or debt contracts? While such restrictions reduce agents' ability to credibly commit ex ante to repay principals in states where they default on their financial obligations, they also generate a pecuniary externality on other principal-agent pairs by reducing the equilibrium profit earned by principals. This turns out to imply that on both political and normative grounds, restrictions on bonded labor become more attractive whe...
