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作者：Sun, Ning; Yang, Zaifu
作者单位：Shanghai University of Finance & Economics; University of York - UK
摘要：This article proposes an efficient and incentive compatible dynamic auction for selling multiple complementary goods. The seller has reserve prices. The auctioneer announces a current price for every bundle of goods and a supply set of goods, every bidder responds with a set of goods demanded at these prices, and the auctioneer adjusts prices. We prove that even when bidders can exercise their market power strategically, this dynamic auction always induces them to bid truthfully, resulting in ...
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作者：Holmes, Thomas J.; Stevens, John J.
作者单位：University of Minnesota System; University of Minnesota Twin Cities; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve System Board of Governors
摘要：There is wide variation in the sizes of manufacturing plants, even within the most narrowly defined industry classifications. Standard theories attribute such size differences to productivity differences. This paper develops an alternative theory in which industries are made up of large plants producing standardized goods and small plants making custom or specialty goods. It uses confidential census data to estimate the parameters of the model. The model fits the data well. In particular, the ...
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作者：Fu, Chao
作者单位：University of Wisconsin System; University of Wisconsin Madison
摘要：I develop and estimate a structural equilibrium model of the college market. Students, having heterogeneous abilities and preferences, make application decisions subject to uncertainty and application costs. Colleges, observing noisy measures of student ability, choose tuition and admissions policies to compete for better students. Tuition, applications, admissions, and enrollment are joint equilibrium outcomes. I estimate the model using the NLSY97 via a three-step procedure to deal with pote...
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作者：Clark, Damon; Martorell, Paco
作者单位：University of California System; University of California Irvine; National Bureau of Economic Research; RAND Corporation; Rand Health
摘要：This paper distinguishes between the human capital and signaling theories by estimating the earnings return to a high school diploma. Unlike most indicators of education (e.g., a year of school), a diploma is essentially a piece of paper and, hence, by itself cannot affect productivity. Any earnings return to holding a diploma must therefore reflect the diploma's signaling value. Using regression discontinuity methods to compare the earnings of workers who barely passed and barely failed high ...
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作者：Acemoglu, Daron; Reed, Tristan; Robinson, James A.
作者单位：Massachusetts Institute of Technology (MIT); Canadian Institute for Advanced Research (CIFAR); Harvard University
摘要：We study the effect of constraints on chiefs' power on economic outcomes, citizens' attitudes, and social capital. A paramount chief in Sierra Leone must come from a ruling family originally recognized by British colonial authorities. In chiefdoms with fewer ruling families, chiefs face less political competition, and development outcomes are significantly worse today. Variation in the security of property rights over land is a potential mechanism. Paradoxically, with fewer ruling families, th...
