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作者：Campos, Christopher; Kearns, Caitlin
作者单位：University of Chicago; National Bureau of Economic Research
摘要：Does a school district that expands school choice provide better outcomes for students than a neighborhood-based assignment system? This article studies the Zones of Choice (ZOC) program, a school choice initiative of the Los Angeles Unified School District (LAUSD) that created small high school markets in some neighborhoods but left attendance zone boundaries in place throughout the rest of the district. We study market-level effects of choice on student achievement and college enrollment usi...
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作者：Shi, Maggie
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This article examines the trade-offs of monitoring for wasteful public spending. By penalizing unnecessary spending, monitoring improves the quality of public expenditure and incentivizes firms to invest in compliance technology. I study a large Medicare program that monitored for unnecessary health care spending and consider its effect on government savings, provider behavior, and patient health. Every dollar Medicare spent on monitoring generated $24-$29 in government savings. The majority o...
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作者：Golosov, Mikhail; Graber, Michael; Mogstad, Magne; Novgorodsky, David
作者单位：University of Chicago; National Bureau of Economic Research; Statistics Norway; University of London; London School Economics & Political Science; Australian National University
摘要：We study how Americans respond to idiosyncratic and exogenous changes in household wealth and unearned income. Our analyses combine administrative data on U.S. lottery winners with an event study design. We first examine individual and household earnings responses to these windfall gains, finding significant and sizable wealth and income effects. On average, an extra $1 of unearned income in a given period reduces household labor earnings by about 50 cents, decreases total labor taxes by 10 ce...
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作者：Chetty, Raj; Friedman, John N.; Stepner, Michael
作者单位：Harvard University; Brown University; University of Toronto
摘要：We build a publicly available database that tracks economic activity in the United States at a granular level in real time using anonymized data from private companies. We report weekly statistics on consumer spending, business revenues, job postings, and employment rates disaggregated by county, sector, and income group. Using the publicly available data, we show how the COVID-19 pandemic affected the economy by analyzing heterogeneity in its effects across subgroups. High-income individuals ...
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作者：Ludwig, Jens; Mullainathan, Sendhil
作者单位：University of Chicago; National Bureau of Economic Research
摘要：While hypothesis testing is a highly formalized activity, hypothesis generation remains largely informal. We propose a systematic procedure to generate novel hypotheses about human behavior, which uses the capacity of machine learning algorithms to notice patterns people might not. We illustrate the procedure with a concrete application: judge decisions about whom to jail. We begin with a striking fact: the defendant's face alone matters greatly for the judge's jailing decision. In fact, an al...
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作者：Wachter, Jessica A.; Kahana, Michael Jacob
作者单位：University of Pennsylvania; U.S. Securities & Exchange Commission (SEC)
摘要：Studies of human memory indicate that features of an event evoke memories of prior associated contextual states, which in turn become associated with the current event's features. This retrieved-context mechanism allows the remote past to influence the present, even as agents gradually update their beliefs about their environment. We apply a version of retrieved-context theory, drawn from the literature on human memory, to explain three types of evidence in the financial economics literature: ...
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作者：Chen, Jiafeng; Roth, Jonathan
作者单位：Harvard University; Brown University
摘要：When studying an outcome Y that is weakly positive but can equal zero (e.g., earnings), researchers frequently estimate an average treatment effect (ATE) for a log-like transformation that behaves like log (Y) for large Y but is defined at zero (e.g., log (1 + Y), arcsinh(Y)). We argue that ATEs for log-like transformations should not be interpreted as approximating percentage effects, since unlike a percentage, they depend on the units of the outcome. In fact, we show that if the treatment af...
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作者：Grieco, Paul L. E.; Murry, Charles; Yurukoglu, Ali
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Pennsylvania State University; Pennsylvania State University - University Park; Boston College; National Bureau of Economic Research; Stanford University; National Bureau of Economic Research
摘要：We construct measures of industry performance and welfare in the U.S. automobile market from 1980 to 2018. We estimate a demand model using product-level data on market shares, prices, and attributes, and consumer-level data on demographics, purchases, and stated second choices. We estimate marginal costs assuming Nash-Bertrand pricing. We relate trends in consumer welfare and markups to trends in market structure and the composition of products. Although real prices rose, we find that markups...
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作者：Hortacsu, Ali; Natan, Olivia R.; Parsley, Hayden; Schwieg, Timothy; Williams, Kevin R.
作者单位：University of Chicago; National Bureau of Economic Research; University of California System; University of California Berkeley; University of Texas System; University of Texas Austin; Yale University
摘要：Firms facing complex objectives often decompose the problems they face, delegating different parts of the decision to distinct subunits. Using comprehensive data and internal models from a large U.S. airline, we establish that airline pricing is not well approximated by a model of the firm as a unitary decision maker. We show that observed prices, however, can be rationalized by accounting for organizational structure and for the decisions by departments that are tasked with supplying inputs t...
