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作者：Apesteguia, Jose; Ballester, Miguel A.
作者单位：ICREA; Pompeu Fabra University; Autonomous University of Barcelona
摘要：Evidence showing that individual behavior often deviates from the classical principle of preference maximization has raised at least two important questions: (1) How serious are the deviations? (2) What is the best way to analyze choice behavior in order to extract information for the purpose of welfare analysis? This paper addresses these questions by proposing a new way to identify the preference relation that is closest, in terms of welfare loss, to the revealed choice.
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作者：Best, Michael Carlos; Brockmeyer, Anne; Kleven, Henrik Jacobsen; Spinnewijn, Johannes; Waseem, Mazhar
作者单位：Stanford University; The World Bank; University of London; London School Economics & Political Science; University of Manchester
摘要：To fight evasion, many developing countries use production-inefficient tax policies. This includes minimum tax schemes whereby firms are taxed on either profits or turnover, depending on which tax liability is larger. Such schemes create nonstandard kink points, which allow for eliciting evasion responses to switches between profit and turnover taxes using a bunching approach. Using administrative data on corporations in Pakistan, we estimate that turnover taxes reduce evasion by up to 60-70 p...
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作者：Kaur, Supreet; Kremer, Michael; Mullainathan, Sendhil
作者单位：Columbia University; National Bureau of Economic Research; Harvard University
摘要：Self-control problems change the logic of agency theory by partly aligning the interests of the firm and worker: both now value contracts that elicit future effort. Findings from a year-long field experiment with full-time data entry workers support this idea. First, workers increase output by voluntarily choosing dominated contracts (which penalize low output but give no additional rewards for high output). Second, effort increases closer to (randomly assigned) paydays. Third, the contract an...
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作者：Polachek, Solomon W.; Das, Tirthatanmoy; Thamma-Apiroam, Rewat
作者单位：State University of New York (SUNY) System; Binghamton University, SUNY; IZA Institute Labor Economics; State University System of Florida; University of Central Florida; Kasetsart University
摘要：We derive a tractable nonlinear earnings function that we estimate separately individual by individual using NLSY79 data. We obtain three ability measures, a rate of skill depreciation, a time discount rate, and a population-wide estimate of the human capital rental rate. We utilize these parameters to verify a number of heretofore untested theorems based on the life cycle model. We show how these human capital production function parameters relate to cognitive ability, personality traits, and...
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作者：Sprenger, Charles
作者单位：Stanford University
摘要：Recent models of reference-dependent preferences indicate that expectations may play a prominent role in the presence of behavioral anomalies. A subset of such expectations-based models predicts an endowment effect for risk: that risk attitudes differ when reference points change from certain to stochastic. In two purposefully simple risk preference experiments, eliminating often-discussed confounds, I demonstrate both between and within subjects such an endowment effect for risk. These result...
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作者：Koudijs, Peter
作者单位：Stanford University; National Bureau of Economic Research
摘要：This paper studies how private information is incorporated into prices, using a unique setting from the eighteenth century that is closer to stylized models of price discovery than modern-day markets. Specifically, the paper looks at English securities traded in both London and Amsterdam. Private information reached Amsterdam through sailing boats that sailed only twice a week and in adverse weather could not sail at all. Results are consistent with a Kyle model in which informed agents trade ...
