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作者：Behrer, A. Patrick; Glaeser, Edward L.; Ponzetto, Giacomo A. M.; Shleifer, Andrei
作者单位：Stanford University; Harvard University; National Bureau of Economic Research; Pompeu Fabra University; Centre de Recerca en Economia Internacional (CREI); Centre for Economic Policy Research - UK
摘要：A central challenge in securing property rights is the subversion of justice. We present a model of a polluter whose discharges harm multiple owners, and we compare property rules, liability rules, and regulation on efficiency grounds. We provide conditions under which property rules are preferred to liability rules, thus verifying the Calabresi-Melamed conjecture. Regulation that enforces partial abatement may be preferred to either of the extreme rules. An empirical analysis of water quality...
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作者：Atkin, David; Colson-Sihra, Eve; Shayo, Moses
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Hebrew University of Jerusalem
摘要：Are identities fungible? How do people come to identify with specific groups? This paper proposes a revealed preference approach, using food consumption to uncover ethnic and religious identity choices in India. We first show that consumption of identity goods responds to forces suggested by social identity research: group status and group salience. Moreover, identity choices respond to the cost of following the group's prescribed behaviors. We propose and estimate a demand system to quantify ...
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作者：Kilenthong, Weerachart T.; Townsend, Robert M.
作者单位：University Thai Chamber Commerce; Massachusetts Institute of Technology (MIT)
摘要：In economies with a continuum of agents of different types, pecuniary externalities are removed with market exchanges. Agents choose from among various possible prices they want to prevail in the future and buy or sell rights in these market exchanges for future trade. Each agent can choose the exchange it wants without regard to what any other agent is doing. But crucially, the right to trade in each and every exchange is priced. The fee structure has a per-unit price and quantity decompositi...
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作者：Basker, Emek; Simcoe, Timothy
作者单位：Boston University; National Bureau of Economic Research
摘要：We study the adoption, diffusion, and impacts of the Universal Product Code (UPC) between 1975 and 1992, during the initial years of the bar code system. We find evidence of network effects in the diffusion process. Matched-sample difference-in-differences estimates show that firm size and trademark registrations increase following UPC adoption by manufacturers. Industry-level import penetration also increases with domestic UPC adoption. Our findings suggest that bar codes, scanning, and relat...
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作者：Gershkov, Alex; Moldovanu, Benny; Strack, Philipp; Zhang, Mengxi
作者单位：Hebrew University of Jerusalem; University of Surrey; University of Bonn; Yale University
摘要：We derive the symmetric, revenue-maximizing allocation of several units among agents who take costly actions that influence their values. The problem is equivalent to a reduced-form model where agents have nonexpected utility. The uniform-price auction and the discriminatory pay-your-bid auction with reserve prices that react to both demand and supply constitute symmetric, optimal mechanisms. We also identify a condition under which the overall optimal mechanism is indeed symmetric and illustr...
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作者：Golsteyn, Bart H. H.; Non, Arjan; Zoelitz, Ulf
作者单位：Maastricht University; Erasmus University Rotterdam - Excl Erasmus MC; Erasmus University Rotterdam; University of Zurich
摘要：This paper provides evidence of a novel facet of peer effects by showing that peer personality influences academic achievement. We exploit random assignment of students to university sections and find that students perform better in the presence of persistent peers. The impact of peer persistence is enduring, as students exposed to persistent peers at the beginning of their studies continue to achieve higher grades in subsequent periods. The personality peer effects that we document are distin...
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作者：Staiger, Robert W.; Sykes, Alan O.
作者单位：Dartmouth College; National Bureau of Economic Research; Stanford University
摘要：The existing economics literature on international trade agreements focuses on tariff agreements covering trade in goods and explains core features of the General Agreement on Tariffs and Trade (GATT). Tariffs play almost no role in services markets, however, and the literature cannot account for the strikingly different approach to trade liberalization in agreements such as the World Trade Organization's General Agreement on Trade in Services (GATS). We develop a model through which key featu...
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作者：Jacquet, Nicolas L.
作者单位：Singapore Management University
摘要：This paper proposes a theory of endogenous differences in liquidity of assets based on the interaction between differences in their risk and differences in liquidity needs of agents. An equilibrium of the model displays a class structure, where agents sort themselves across different types of assets according to their types. High-liquidity-need agents hold on to safer portfolios than lower-liquidity-need agents whenever the variation in the value of liquidity across states raises the value of ...
