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作者：Hartzmark, Samuel M.; Hirshman, Samuel D.; Imas, Alex
作者单位：University of Chicago; National Bureau of Economic Research; University of Colorado System; University of Colorado Boulder
摘要：We examine how owning a good affects learning and beliefs about its quality. We show that people have more extreme reactions to information about a good they own compared with the same information about a nonowned good: ownership causes more optimistic beliefs after receiving a positive signal and more pessimistic beliefs after receiving a negative signal. Comparing learning to normative benchmarks reveals that people overextrapolate from signals about goods they own, which leads to an overrea...
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作者：Abaluck, Jason; Adams-Prassl, Abi
作者单位：Yale University; University of Oxford
摘要：Consideration set models generalize discrete-choice models by relaxing the assumption that consumers consider all available options. Determining which options were considered has previously required either survey data or restrictions on how attributes affect consideration or utility. We provide an alternative route. In full-consideration models, choice probabilities satisfy a symmetry property analogous to Slutsky symmetry in continuous-choice models. This symmetry breaks down in consideration...
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作者：Abaluck, Jason; Bravo, Mauricio Caceres; Hull, Peter; Starc, Amanda
作者单位：Yale University; National Bureau of Economic Research; Brown University; Northwestern University
摘要：Competition in health insurance markets may fail to improve health outcomes if consumers are not able to identify high-quality plans. We develop and apply a novel instrumental variables framework to quantify the variation in causal mortality effects across plans and measure how much consumers attend to this variation. We first document large differences in the observed mortality rates of Medicare Advantage plans in local markets. We then show that when plans with high mortality rates exit thes...
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作者：Hanson, Samuel G.; Lucca, David O.; Wright, Jonathan H.
作者单位：Harvard University; Federal Reserve System - USA; Federal Reserve Bank - New York; Johns Hopkins University
摘要：Long-term nominal interest rates are surprisingly sensitive to high-frequency (daily or monthly) movements in short-term rates. Since 2000, this high-frequency sensitivity has grown even stronger in U.S. data. By contrast, the association between low-frequency changes (at 6- or 12-month horizons) in long- and short-term rates, which was also strong before 2000, has weakened substantially. This puzzling post-2000 pattern arises because increases in short rates temporarily raise the term premium...
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作者：Altmejd, Adam; Barrios-Fernandez, Andres; Drlje, Marin; Goodman, Joshua; Hurwitz, Michael; Kovac, Dejan; Mulhern, Christine; Neilson, Christopher; Smith, Jonathan
作者单位：Stockholm School of Economics; Stockholm University; Stockholm University; University of London; London School Economics & Political Science; VATT Institute for Economic Research; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Boston University; Princeton University; Leibniz Association; Leibniz Institut fur Wirtschaftsforschung Halle (IWH); RAND Corporation; University System of Georgia; Georgia State University
摘要：Family and social networks are widely believed to influence important life decisions, but causal identification of those effects is notoriously challenging. Using data from Chile, Croatia, Sweden, and the United States, we study within-family spillovers in college and major choice across a variety of national contexts. Exploiting college-specific admissions thresholds that directly affect older but not younger siblings' college options, we show that in all four countries a meaningful portion o...
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作者：Coppola, Antonio; Maggiori, Matted; Neiman, Brent; Schreger, Jesse
作者单位：Harvard University; Stanford University; National Bureau of Economic Research; Centre for Economic Policy Research - UK; University of Chicago; Columbia University
摘要：Global firms finance themselves through foreign subsidiaries, often shell companies in tax havens, which obscures their true economic location in official statistics. We associate the universe of traded securities issued by firms in tax havens with their issuer's ultimate parent and restate bilateral investment positions to better reflect the financial linkages connecting countries around the world. Bilateral portfolio investment from developed countries to firms in large emerging markets is d...
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作者：Bessone, Pedro; Rao, Gautam; Schilbach, Frank; Schofield, Heather; Toma, Mattie
作者单位：Massachusetts Institute of Technology (MIT); Harvard University; National Bureau of Economic Research; University of Pennsylvania
摘要：The urban poor in developing countries face challenging living environments, which may interfere with good sleep. Using actigraphy to measure sleep objectively, we find that low-income adults in Chennai, India, sleep only 5.5 hours a night on average despite spending 8 hours in bed. Their sleep is highly interrupted, with sleep efficiency-sleep per time in bed-comparable to those with disorders such as sleep apnea or insomnia. A randomized three-week treatment providing information, encouragem...
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作者：Coibion, Olivier; Gorodnichenko, Yuriy; Kumar, Saten; Ryngaert, Jane
作者单位：University of Texas System; University of Texas Austin; National Bureau of Economic Research; University of California System; University of California Berkeley; Auckland University of Technology; Wake Forest University
摘要：We implement a new survey of firms, focusing on their higher-order macroeconomic expectations. The survey provides a novel set of stylized facts regarding the relationship between first-order and higher-order expectations of economic agents, including how they adjust their beliefs in response to a variety of information treatments. We show how these facts can be used to calibrate key parameters of noisy-information models with infinite regress as well as to test predictions made by this class ...
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作者：Miller, Sarah; Johnson, Norman; Wherry, Laura R.
作者单位：University of Michigan System; University of Michigan; New York University
摘要：We use large-scale federal survey data linked to administrative death records to investigate the relationship between Medicaid enrollment and mortality. Our analysis compares changes in mortality for near-elderly adults in states with and without Affordable Care Act Medicaid expansions. We identify adults most likely to benefit using survey information on socioeconomic status, citizenship status, and public program participation. We find that prior to the ACA expansions, mortality rates across...
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作者：Breza, Emily; Kinnan, Cynthia
作者单位：Harvard University; National Bureau of Economic Research; Tufts University
摘要：In October 2010, the state government of Andhra Pradesh, India, issued an emergency ordinance, bringing microfinance activities in the state to a complete halt and causing a nationwide shock to the liquidity of lenders, especially those with loans in the affected state. We use this massive dislocation in the microfinance market to identify the causal impacts of a reduction in credit supply on consumption, earnings, and employment in general equilibrium in rural labor markets. Using a proprieta...
