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作者：Greenwood, Jeremy; Ma, Yueyuan; Yorukoglu, Mehmet
作者单位：University of Pennsylvania; University of California System; University of California Santa Barbara; Koc University
摘要：An information-based model is developed where traditional and digital advertising finance the provision of free media goods and affect price competition. Digital advertising is directed toward specific consumers while traditional advertising is undirected. The equilibrium is suboptimal. Media goods, if valued by the consumer, are under provided with both types of advertising. Additionally, traditional advertising is excessive because it is undirected. The tax-cum-subsidy policy that overcomes ...
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作者：Colmer, Jonathan; Martin, Ralf; Muuls, Mirabelle; Wagner, Ulrich J.
作者单位：University of Virginia; Imperial College London; European Central Bank; National Bank of Belgium; University of Mannheim
摘要：In theory, market-based regulatory instruments correct market failures at least cost. However, evidence on their efficacy remains scarce. Using administrative data, we estimate that, on average, the European Union Emissions Trading System (EU ETS)-the world's first and largest market-based climate policy-induced regulated manufacturing firms to reduce carbon dioxide emissions by 14-16% with no detectable contractions in economic activity. We find no evidence of outsourcing to unregulated firms...
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作者：Bordalo, Pedro; Burro, Giovanni; Coffman, Katherine; Gennaioli, Nicola; Shleifer, Andrei
作者单位：University of Oxford; Ruprecht Karls University Heidelberg; Bocconi University; Bocconi University; Harvard University
摘要：How do people form beliefs about novel risks, with which they have little or no experience? Motivated by survey data on beliefs about COVID we collected in 2020, we build a model based on the psychology of selective memory. When a person thinks about an event, different experiences compete for retrieval, and retrieved experiences are used to simulate the event based on how similar they are to it. The model predicts that different experiences interfere with each other in recall and that non-dom...
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作者：Ferraro, Domenico; Valaitis, Vytautas
作者单位：Arizona State University; Arizona State University-Tempe; University of Surrey
摘要：In the U.S., market hours worked are approximately flat across the wealth distribution. Accounting for this phenomenon is a standing challenge for standard heterogeneous-agent macro models. In these models, wealthier households consume more and work fewer hours. We propose a theory that generates the cross-sectional wealth-hours relation as in the data. We quantify this theory in a heterogeneous-agent incomplete-markets model with three key features: a quality choice in consumption, non-homoth...
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作者：Djourelova, Milena; Durante, Ruben; Martin, Gregory J.
作者单位：Cornell University; Leibniz Association; Ifo Institut; National University of Singapore; ICREA; Pompeu Fabra University; Stanford University
摘要：How does competition from online platforms affect the organization, performance, and editorial choices of newspapers? What are the implications of these changes for the information voters are exposed to and for their political choices? We study these questions using the staggered introduction of Craigslist (CL)-the world's largest online platform for classified advertising-across U.S. counties between 1995 and 2009. This setting allows us to separate the effect of competition for classified ad...
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作者：Jolivet, Gregory; Postel-Vinay, Fabien
作者单位：University of Bristol; University of London; University College London
摘要：We analyse the joint life-cycle dynamics of labour market and mental health outcomes while allowing for two-way interactions between work and mental health. We model selection into jobs on a labour market with search frictions, accounting for the level of exposure to stress in each job using data on occupational health contents. Taking our model to British data from Understanding Society combined with information from O*NET, we estimate the impact of job characteristics on health dynamics and ...
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作者：Tuncel, Tuba
作者单位：State University System of Florida; Florida State University
摘要：After a drug obtains marketing authorisation, the usage depends on the regulation of off-label prescriptions for unapproved indications. We investigate the impact of off-label prescription regulation on physicians' behaviour, patients' health, treatment costs, and pharmaceutical firms' pricing with a structural demand and supply model. Exploiting rich panel data on physicians' activities and office visits in France over 9 years, we use a model of prescription choice and health outcomes with un...
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作者：Cronin, Christopher J.; Forsstrom, Matthew P.; Papageorge, Nicholas W.
作者单位：University of Notre Dame; Wheaton College; Johns Hopkins University; National Bureau of Economic Research
摘要：Evidence across disciplines suggests that talk therapy is more curative than antidepressants for mild-to-moderate depression and anxiety. Yet, few patients use it. We develop a dynamic choice model to analyse patient demand for the treatment of depression and anxiety. The model incorporates myriad potential impediments to therapy use along with links between mental health improvements and earnings. The estimated model reveals that mental health improvements are valuable, directly through utili...
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作者：Do, Quy-Toan; Jacoby, Hanan G.
作者单位：The World Bank
摘要：As utility services expand throughout the developing world, providers must grapple with how to set prices to recover average costs. Data from a multiyear randomised pricing experiment among nearly 1,500 recently connected piped water customers in Vietnam reveal month-to-month demand persistence. Based on structural demand estimation, we document how endogenous preferences, if unaccounted for, can lead to low take-up and thereby threaten the financial viability of the new water utility. We also...
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作者：Corbae, Dean; Glover, Andrew
作者单位：University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Kansas City
摘要：We develop a framework to understand pre-employment credit screening as a signal from credit markets that alleviates adverse selection in labour markets. In our theory, people differ in both their propensity to default on debt and the profits they create for firms that employ them; in our calibrated economy, highly productive workers have a low default probability. This leads firms to create more jobs for those with good credit, which creates a poverty trap: an unemployed worker with poor cred...
