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作者：Benson, Alan; Board, Simon; Meyer-Ter-Vehn, Moritz
作者单位：University of Minnesota System; University of Minnesota Twin Cities; University of California System; University of California Los Angeles
摘要：We propose a simple model of racial bias in hiring that encompasses three major theories: taste-based discrimination, screening discrimination, and complementary production. We derive a test that can distinguish these theories based on the mean and variance of workers' productivity under managers of different pairs of races. We apply this test to study discrimination at a major U.S. retailer using data from 48,755 newly hired commission-based salespeople. White, black, and Hispanic managers wi...
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作者：Bianchi, Nicola; Bovini, Giulia; Li, Jin; Paradisi, Matteo; Powell, Michael
作者单位：Northwestern University; National Bureau of Economic Research; European Central Bank; Bank of Italy; University of Hong Kong
摘要：This article studies career spillovers across workers, which arise in firms with limited promotion opportunities. We exploit a 2011 Italian pension reform that unexpectedly tightened eligibility criteria for the public pension, leading to sudden, substantial, and heterogeneous retirement delays. Using administrative data on Italian private-sector workers, the analysis leverages cross-firm variation to isolate the effect of retirement delays among soon-to-retire workers on the wage growth and p...
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作者：Kolb, Aaron; Madsen, Erik
作者单位：Indiana University System; Indiana University Bloomington; IU Kelley School of Business; New York University
摘要：We study how an organization should dynamically screen an agent of uncertain loyalty whom it suspects of committing damaging acts of undermining. The organization controls the stakes of the relationship, while the agent strategically times undermining, which can occur repeatedly and is detected only stochastically. The optimal commitment stakes policy exhibits both discreteness and gradualism, with distinct untrusted and trusted phases featuring gradually rising stakes during the untrusted pha...
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作者：Ali, S. Nageeb; Lewis, Greg; Vasserman, Shoshana
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Microsoft; Stanford University; National Bureau of Economic Research
摘要：Firms have ever-increasing access to consumer data, which they use to personalize their advertising and to price discriminate. This raises privacy concerns. Policymakers have argued in response that consumers should be given control over their data, able to choose what to share and when. Since firms learn about a consumer's preferences both from what they do and do not disclose, the equilibrium implications of consumer control are unclear. We study whether such measures improve consumer welfar...
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作者：Eggertsson, Gauti B.; Juelsrud, Ragnar E.; Summers, Lawrence H.; Getz Wold, Ella
作者单位：Brown University; Norges Bank; BI Norwegian Business School; Harvard University
摘要：We investigate the bank lending channel of negative nominal policy rates from an empirical and theoretical perspective. For the empirical results, we rely on Swedish data, including daily bank-level lending rates. We find that retail household deposit rates are subject to a lower bound (DLB). Empirically, once the DLB is met, the pass-through to mortgage lending rates and credit volumes is substantially lower and bank equity values decline in response to further policy rate cuts. We construct ...
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作者：List, John A.; Muir, Ian; Pope, Devin; Sun, Gregory
作者单位：University of Chicago; National Bureau of Economic Research; University of Chicago; Washington University (WUSTL)
摘要：Left-digit bias (or 99-cent pricing) has been discussed extensively in economics, psychology, and marketing. Despite this, we show that the rideshare company, Lyft, was not using a 99-cent pricing strategy prior to our study. Based on observational data from over 600 million Lyft sessions followed by a field experiment conducted with 21 million Lyft passengers, we provide evidence of large discontinuities in demand at dollar values. Approximately half of the downward slope of the demand curve ...
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作者：D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; Weber, Michael
作者单位：Georgetown University; Helmholtz Association; Karlsruhe Institute of Technology; Bank of Finland; University of Chicago
摘要：We use administrative and survey-based micro data to study the relationship between cognitive abilities (IQ), the formation of inflation expectations, and the consumption plans of a representative male population. High-IQ men display 50% lower forecast errors for inflation than other men. High-IQ men, but not others, have consistent inflation expectations and perceptions over time. In terms of choice, only high-IQ men increase their consumption propensity when expecting higher inflation as the...
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作者：Cerreia-Vioglio, Simone; Maccheroni, Fabio; Marinacci, Massimo; Rustichini, Aldo
作者单位：Bocconi University; University of Minnesota System; University of Minnesota Twin Cities
摘要：We provide two characterizations, one axiomatic and the other neuro-computational, of the dependence of choice probabilities on deadlines, within the widely used softmax representation p(t) (a, A)= e(u(a)/lambda(t) +) (alpha(alpha))/Sigma(b is an element of A)e (u(b)/lambda(t) + alpha(b)), where p(t) (a, A) is the probability that alternative a is selected from the set A of feasible alternatives if t is the time available to decide, lambda is a time-dependent noise parameter measuring the unit...
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作者：Gentry, Matthew; Komarova, Tatiana; Schiraldi, Pasquale
作者单位：State University System of Florida; Florida State University; University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR)
摘要：Motivated by the prevalence of simultaneous bidding across a wide range of auction markets, we develop and estimate a model of strategic interaction in simultaneous first-price auctions when objects are heterogeneous and bidders have non-additive preferences over combinations. We establish non-parametric identification of primitives in this model under standard exclusion restrictions, providing a basis for both estimation and testing of preferences over combinations. We then apply our model to...
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作者：Stango, Victor; Zinman, Jonathan
作者单位：University of California System; University of California Davis; Dartmouth College; National Bureau of Economic Research
摘要：We examine how 17 behavioural biases relate to each other, to three standard measures of risk and time preferences, to cognitive skills, personality, and demographics, and to outcomes in household finance, well-being, and health. Most consumers in our nationally representative panel data exhibit multiple biases, with substantial cross-person heterogeneity. Biases are positively correlated within person, especially after adjusting for measurement error. From that correlation structure, we reduc...
