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作者：Acemoglu, Daron; Finkelstein, Amy
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This paper examines the implications of regulatory change for input mix and technology choices of regulated industries. We study the increase in the relative price of labor faced by U. S. hospitals that resulted from the move from full cost to partial cost reimbursement under the Medicare Prospective Payment System ( PPS) reform. Using the interaction of hospitals' pre-PPS Medicare share of patient days with the introduction of PPS, we document substantial increases in capital-labor ratios and...
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作者：Field, Erica; Ambrus, Attila
作者单位：Harvard University
摘要：Using data from rural Bangladesh, we explore the hypothesis that women attain less schooling as a result of social and financial pressure to marry young. We isolate the causal effect of marriage timing using age of menarche as an instrumental variable. Our results indicate that each additional year that marriage is delayed is associated with 0.22 additional year of schooling and 5.6 percent higher literacy. Delayed marriage is also associated with an increase in use of preventive health servic...
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作者：Aumann, Robert J.; Serrano, Roberto
作者单位：Hebrew University of Jerusalem; Brown University
摘要：Define the riskiness of a gamble as the reciprocal of the absolute risk aversion (ARA) of an individual with constant ARA who is indifferent between taking and not taking that gamble. We characterize this index by axioms, chief among them a duality axiom that, roughly speaking, asserts that less risk-averse individuals accept riskier gambles. The index is positively homogeneous, continuous, and subadditive; respects first- and second-order stochastic dominance; and for normally distributed gam...
