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作者：Baker, Scott R.
作者单位：Northwestern University
摘要：The increasing availability of data derived from linked consumer financial accounts has the potential to dramatically expand the potential for research. Examining the most comprehensive existing set of linked-account data, consisting of transaction and balance sheet data for millions of Americans, I demonstrate the power and versatility of such sources. I discuss advantages and concerns arising from this type of data and match a range of distributional moments to external sources. As one appli...
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作者：Azrieli, Yaron; Chambers, Christopher P.; Healy, Paul J.
作者单位：University System of Ohio; Ohio State University; Georgetown University
摘要：Experimental economists currently lack a convention for how to pay subjects in experiments with multiple tasks. We provide a theoretical framework for analyzing this question. Assuming statewise monotonicity and nothing else, we prove that paying for one randomly chosen problem-the random problem selection mechanism-is essentially the only incentive compatible mechanism. Paying for every period is similarly justified when we assume only a no complementarities at the top condition. To help expe...
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作者：Heath, Rachel
作者单位：University of Washington; University of Washington Seattle
摘要：I argue that firms use referrals from current workers to mitigate a moral hazard problem. I develop a model in which referrals relax a limited liability constraint by allowing the firm to punish the referral provider if the recipient has low output. I test the model's predictions using household survey data that I collected in Bangladesh. I can control for correlated wage shocks within a network and correlated unobserved type between the recipient and provider I reject the testable implication...
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作者：Halevy, Yoram; Persitz, Dotan; Zrill, Lanny
作者单位：University of Toronto; Tel Aviv University
摘要：Revealed preference theory is brought to bear on the problem of recovering approximate parametric preferences from consistent and inconsistent consumer choices. We propose measures of the incompatibility between the revealed preference ranking implied by choices and the ranking induced by the considered parametric preferences. These incompatibility measures are proven to characterize well-known inconsistency indices. We advocate a recovery approach that is based on such incompatibility measure...
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作者：Akcigit, Ufuk; Kerr, William R.
作者单位：University of Chicago; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Harvard University; National Bureau of Economic Research
摘要：We build a tractable growth model in which multiproduct incumbents invest in internal innovations to improve their existing products, while new entrants and incumbents invest in external innovations to acquire new product lines. External and internal innovations generate heterogeneous innovation qualities, and firm size affects innovation incentives. We analyze how different types of innovation contribute to economic growth and the role of the firm size distribution. Our model aligns with many...
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作者：Armstrong, Mark; Vickers, John
作者单位：University of Oxford; University of Oxford
摘要：We study multiproduct firms in the contexts of unregulated monopoly, regulated monopoly, and Cournot oligopoly. Using the concept of consumer surplus as a function of quantities (rather than prices), we present simple formulas for optimal prices and show that Cournot equilibrium exists and corresponds to a Ramsey optimum. We then discuss a tractable class of preferences that involve a generalized form of homotheticity. Profit-maximizing quantities are proportional to efficient quantities. We d...
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作者：Hall, Robert E.; Mueller, Andreas I.
作者单位：Stanford University; National Bureau of Economic Research; National Bureau of Economic Research; Columbia University; IZA Institute Labor Economics
摘要：We use a rich new body of data on the experiences of unemployed job seekers to determine the sources of wage dispersion and to create a search model consistent with the acceptance decisions the job seekers made. We identify the distributions of four key variables: offered wages, offered nonwage job values, job seekers' nonwork alternatives, and job seekers' personal productivities. We find that, conditional on personal productivity, the standard deviation of offered log wages is moderate, at 0...
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作者：Fox, Jeremy T.; Yang, Chenyu; Hsu, David H.
作者单位：Rice University; National Bureau of Economic Research; University of Rochester; University of Pennsylvania
摘要：Agents in two-sided matching games vary in characteristics that are unobservable in typical data on matching markets. We investigate the identification of the distribution of unobserved characteristics using data on who matches with whom. In full generality, we consider manyto-many matching and matching with trades. The distribution of matchspecific unobservables cannot be fully recovered without information on unmatched agents, but the distribution of a combination of unobservables, which we ...
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作者：Haselmann, Rainer; Schoenherr, David; Vig, Vikrant
作者单位：Goethe University Frankfurt; Princeton University; University of London; London Business School; Center for Economic & Policy Research (CEPR)
摘要：We employ a unique data set on members of an elite service club in Germany to investigate how social connections in elite networks affect the allocation of resources. Specifically, we investigate credit allocation decisions of banks to firms inside the network. Using a quasi-experimental research design, we document misallocation of bank credit inside the network, with bankers with weakly aligned incentives engaging most actively in crony lending. Our findings, thus, resonate with existing the...
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作者：Prat, Andrea
作者单位：Columbia University
摘要：This paper defines the power of a media organization as its ability to induce voters to make electoral decisions they would not make if reporting were unbiased. It derives a robust upper bound to media power over a range of assumptions about the beliefs and attention patterns of voters. The paper then presents estimates of the power index for the United States and shows how these can inform merger analysis and other policy debates.
