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作者：Koszegi, Botond; Loewenstein, George; Murooka, Takeshi
作者单位：Central European University; Carnegie Mellon University; University of Osaka
摘要：We develop a model of fragile self-esteem-self-esteem that is vulnerable to objectively unjustified swings-and study its implications for choices that depend on, or are aimed at enhancing or protecting, one's self-view. In our framework, a person's self-esteem is determined by sampling his memories of ego-relevant outcomes in a fashion that in turn depends on how he feels about himself, potentially creating multiple fragile self-esteem personal equilibria. Self-esteem is especially likely to b...
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作者：Palma, Nuno
作者单位：University of Manchester; Universidade de Lisboa; Institute of Social Sciences, University of Lisbon (ICS-UL); Centre for Economic Policy Research - UK
摘要：The discovery of massive deposits of precious metals in America during the early modern period caused an exogenous monetary injection to Europe's money supply. I use this episode to identify the causal effects of money. Using a panel of six European countries, I find that monetary expansions had a material impact on real economic activity. The magnitudes are substantial and persist for a long time: an exogenous 10% increase in the production of precious metals in America measured relative to t...
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作者：Loebbing, Jonas
作者单位：Leibniz Association; Ifo Institut; University of Munich
摘要：This article generalizes central results from the theory of (endogenously) directed technical change to settings where technology does not take a labour-augmenting form and with arbitrarily many levels of skill. Building on simple notions of complementarity, the results remain intuitive despite their generality. The developed theory allows to study the endogenous determination of labour-replacing, that is, automation technology through the lens of directed technical change theory. In an assign...
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作者：Morris, Stephen; Yang, Ming
作者单位：Massachusetts Institute of Technology (MIT); University of London; University College London
摘要：Players receive a return to investment that is increasing in the proportion of others who invest and the state and incur a small cost for acquiring information about the state. Their information is reflected in a stochastic choice rule, specifying the probability of a signal leading to investment. If discontinuous stochastic choice rules are infinitely costly, there is a unique equilibrium as costs become small, in which actions are a best response to a uniform (Laplacian) belief over the prop...
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作者：Iacovone, Leonardo; Maloney, William; McKenzie, David
作者单位：The World Bank
摘要：Differences in management quality are an important contributor to productivity differences across countries. A key question is how to best improve poor management in developing countries. We test two different approaches to improving management in Colombian auto parts firms. The first uses intensive and expensive one-on-one consulting, while the second draws on agricultural extension approaches to provide consulting to small groups of firms at approximately one-third the cost of the individual...
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作者：Ellis, Andrew; Masatlioglu, Yusufcan
作者单位：University of London; London School Economics & Political Science; University System of Maryland; University of Maryland College Park
摘要：We propose and axiomatize the categorical thinking model (CTM) in which the framing of the decision problem affects how agents categorize alternatives, that in turn affects their evaluation of it. Prominent models of salience, status quo bias, loss-aversion, inequality aversion, and present bias all fit under the umbrella of CTM. This suggests categorization is an underlying mechanism of key departures from the neoclassical model of choice. We specialize CTM to provide a behavioural foundation...
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作者：Feger, Fabian; Pavanini, Nicola; Radulescu, Doina
作者单位：University of Bern; Tilburg University; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; University of Bern
摘要：An increasing number of households installing solar panels and consuming the energy thus produced raises two challenges for regulators: network financing and vertical equity. We propose alternative tariff and subsidy designs for policymakers to incentivize solar panel adoptions and guarantee that network costs are recovered, while trading off efficiency, equity, and welfare motives. We estimate a structural model of energy demand and solar panel adoption, using a unique matched dataset on ener...
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作者：Kang, Karam; Miller, Robert A.
作者单位：Carnegie Mellon University
摘要：Government procurement contracts rarely have many bids, often only one. Motivated by the institutional features of federal procurement, this article develops a principal-agent model where a buyer seeks sellers at a cost and negotiates contract terms with them. The model is identified and estimated with data on IT and telecommunications contracts. We find the benefits of drawing additional sellers are significantly reduced because the procurement agency can extract informational rents from sell...
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作者：Spencer, Adam Hal
作者单位：University of Nottingham
摘要：This article develops a quantitative open economy framework with dynamics, firm heterogeneity and financial frictions to study the impact of corporate tax reforms targeted at multinationals. The model quantifies their impact on firm selection, production and welfare. Firms draw idiosyncratic shocks, invest in capital, choose optimal financing and select endogenously into selling abroad, through exporting or FDI. I apply this framework to the removal of the U.S. repatriation tax as in the Tax C...
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作者：Penta, Antonio; Zuazo-Garin, Peio
作者单位：Pompeu Fabra University; ICREA; HSE University (National Research University Higher School of Economics)
摘要：We study the strategic impact of players' higher-order uncertainty over the observability of actions in general two-player games. More specifically, we consider the space of all belief hierarchies generated by the uncertainty over whether the game will be played as a static game or with perfect information. Over this space, we characterize the correspondence of a solution concept which captures the behavioural implications of Rationality and Common Belief in Rationality (RCBR), where rationali...
