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作者：Board, Simon; Skrzypacz, Andrzej
作者单位：University of California System; University of California Los Angeles; Stanford University
摘要：A seller wishes to sell multiple goods by a deadline, for example, the end of a season. Potential buyers enter over time and can strategically time their purchases. Each period, the profit-maximizing mechanism awards units to the buyers with the highest valuations exceeding a sequence of cutoffs. We show that these cutoffs are deterministic, depending only on the inventory and time remaining; in the continuous-time limit, the optimal mechanism can be implemented by posting anonymous prices. Wh...
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作者：Chodorow-Reich, Gabriel; Karabarbounis, Loukas
作者单位：Harvard University; National Bureau of Economic Research; University of Minnesota System; University of Minnesota Twin Cities; Princeton University
摘要：The flow opportunity cost of moving from unemployment to employment consists of forgone public benefits and the forgone consumption value of nonworking time. We construct a time series of the opportunity cost of employment using detailed microdata and administrative or national accounts data to estimate benefits levels, eligibility, take-up, consumption by labor force status, hours, taxes, and preference parameters. The opportunity cost is procyclical and volatile over the business cycle. The ...
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作者：Gill, David; Prowse, Victoria
作者单位：Purdue University System; Purdue University
摘要：We investigate how cognitive ability and character skills influence the evolution of play toward Nash equilibrium in repeated strategic interactions. We find that more cognitively able subjects choose numbers closer to equilibrium, earn more, and converge more frequently to equilibrium play. We estimate a structural model of learning based on level k reasoning and find a positive relationship between cognitive ability and levels. Furthermore, the average level of more cognitively able subjects...
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作者：Hoberg, Gerard; Phillips, Gordon
作者单位：University of Southern California; Dartmouth College; National Bureau of Economic Research
摘要：We study how firms differ from their competitors using new time-varying measures of product similarity based on text-based analysis of firm 10-K product descriptions. This year-by-year set of product similarity measures allows us to generate a new set of industries in which firms can have their own distinct set of competitors. Our new sets of competitors explain specific discussion of high competition, rivals identified by managers as peer firms, and changes to industry competitors following e...
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作者：Dziuda, Wioletta; Loeper, Antoine
作者单位：University of Chicago; Universidad Carlos III de Madrid
摘要：We analyze a bargaining situation in which preferences evolve over time and the previous agreement becomes the next status quo. The endogeneity of the status quo exacerbates the players' conflict of interest: Players disagree more often than under exogenous status quo. This leads to inefficiencies and status quo inertia. Under certain conditions, the negotiations can come to a complete gridlock: Players never reach an agreement. Gridlock can occur between players with arbitrarily similar prefe...
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作者：Albanesi, Stefania; Olivetti, Claudia
作者单位：University System of Ohio; Ohio State University; Boston College; National Bureau of Economic Research
摘要：Maternal mortality was the second-largest cause of death for women in childbearing years until the mid-1930s in the United States. For each death, 20 times as many mothers suffered pregnancy-related conditions, which made it hard for them to engage in market work. Between 1930 and 1960 there was a remarkable improvement in maternal health. We argue that this development, by enabling women to reconcile work and motherhood, was essential for the joint rise in women's labor force participation an...
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作者：Fowlie, Meredith; Reguant, Mar; Ryan, Stephen P.
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Northwestern University; University of Texas System; University of Texas Austin
摘要：We assess the static and dynamic implications of alternative market-based policies limiting greenhouse gas emissions in the US cement industry. Our results highlight two countervailing market distortions. First, emissions regulation exacerbates distortions associated with the exercise of market power in the domestic cement market. Second, emissions leakage in trade-exposed markets offsets domestic emissions reductions. Taken together, these forces can result in social welfare losses under poli...
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作者：Best, Michael Carlos; Brockmeyer, Anne; Kleven, Henrik Jacobsen; Spinnewijn, Johannes; Waseem, Mazhar
作者单位：Stanford University; University of London; London School Economics & Political Science; University of Manchester
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作者：Bhaskar, V.; Hopkins, Ed
作者单位：University of Texas System; University of Texas Austin; University of Edinburgh
摘要：We study the efficiency of premarital investments when parents care about their child's marriage prospects, in a large frictionless marriage market with nontransferable utility. Stochastic returns to investment ensure that equilibrium is unique. We find that, generically, investments exceed the Pareto-efficient level, unless the sexes are symmetric in all respects. Girls will invest more than boys if their quality shocks are less variable than shocks for boys or if they are the abundant sex. T...
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作者：Jones, Charles I.
作者单位：Stanford University; National Bureau of Economic Research
摘要：Some technologies save lives-new vaccines, new surgical techniques, safer highways. Others threaten lives-pollution, nuclear accidents, global warming, and the rapid global transmission of disease. How is growth theory altered when technologies involve life and death instead of just higher consumption? This paper shows that taking life into account has first-order consequences. Under standard preferences, the value of life may rise faster than consumption, leading society to value safety over ...
