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作者：Hart, Oliver; Holmstrom, Bengt
作者单位：Harvard University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：The formal literature on firm boundaries has assumed that ex post conflicts are resolved through bargaining. In reality, parties often simply exercise their decision rights. We develop a model, based on shading, in which the use of authority has a central role. We consider two firms deciding whether to adopt a common standard. Nonintegrated firms may fail to coordinate if one firm loses. An integrated firm can internalize the externality, but puts insufficient weight on employee benefits. We u...
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作者：Hornbeck, Richard
作者单位：Harvard University; National Bureau of Economic Research
摘要：This paper examines the impact on agricultural development of the introduction of barbed wire fencing to the American Plains in the late nineteenth century. Without a fence, farmers risked uncompensated damage by others' livestock. From 1880 to 1900, the introduction and near-universal adoption of barbed wire greatly reduced the cost of fences, relative to the predominant wooden fences, especially in counties with the least woodland. Over that period, counties with the least woodland experienc...
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作者：Azoulay, Pierre; Zivin, Joshua S. Graff; Wang, Jialan
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; University of California System; University of California San Diego
摘要：We estimate the magnitude of spillovers generated by 112 academic super-stars who died prematurely and unexpectedly, thus providing an exogenous source of variation in the structure of their collaborators' coauthorship networks. Following the death of a superstar, we find that collaborators experience, on average, a lasting 5% to 8% decline in their quality-adjusted publication rates. By exploring interactions of the treatment effect with a variety of star, coauthor, and star/coauthor dyad cha...
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作者：Almond, Douglas; Doyle, Joseph J., Jr.; Kowalski, Amanda E.; Williams, Heidi
作者单位：Columbia University; National Bureau of Economic Research; Massachusetts Institute of Technology (MIT); Yale University; Harvard University
摘要：A key policy question is whether the benefits of additional medical expenditures exceed their costs. We propose a new approach for estimating marginal returns to medical spending based on variation in medical inputs generated by diagnostic thresholds. Specifically, we combine regression discontinuity estimates that compare health outcomes and medical treatment provision for newborns on either side of the very low birth weight threshold at 1,500 grams. First, using data on the census of U. S. b...
