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作者：Hodgson, Charles; Lewis, Gregory
作者单位：Yale University; National Bureau of Economic Research
摘要：We develop and estimate a model of consumer search with spatial learning. Consumers make inferences from previously searched objects to unsearched objects that are nearby in attribute space, generating path dependence in search sequences. The estimated model rationalizes patterns in data on online consumer search paths: search tends to converge to the chosen product in attribute space, and consumers take larger steps away from rarely purchased products. Eliminating spatial learning reduces con...
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作者：La Ferrara, Eliana
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作者：Chen, Yiting; Zhong, Songfa
作者单位：Lingnan University; National University of Singapore; Hong Kong University of Science & Technology
摘要：We conduct a series of experiments and document a robust behavioral pattern whereby people behave more morally in uncertain environments than degenerate deterministic ones. We show that this pattern is weakened when the moral implication of behavior is diminished or when uncertainty pertains to others rather than oneself. These findings are incompatible with standard models that respect dominance. We propose a mechanism based on the anxiety aspect of uncertain environments whereby people act m...
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作者：Cavaliere, Giuseppe; Mikosch, Thomas; Rahbek, Anders; Vilandt, Frederik
作者单位：University of Bologna; University of Exeter; University of Copenhagen; University of Copenhagen
摘要：Based on the GARCH literature, Engle and Russell (1998) established consistency and asymptotic normality of the QMLE for the autoregressive conditional duration (ACD) model, assuming strict stationarity and ergodicity of the durations. Using novel arguments based on renewal process theory, we show that their results hold under the stronger requirement that durations have finite expectation. However, we demonstrate that this is not always the case under the assumption of stationary and ergodic ...
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作者：Carranza, Eliana; Donald, Aletheia; Grosset-touba, Florian; Kaur, Supreet
作者单位：The World Bank; The World Bank; Institut Polytechnique de Paris; ENSAE Paris; University of California System; University of California Berkeley; University of Cambridge
摘要：In low-income communities in both rich and poor countries, redistributive transfers within kin and social networks are frequent. Such arrangements may distort labor supply-acting as a social tax that dampens the incentive to work. We document that across countries, from the United States to C & ocirc;te d'Ivoire, low-income groups report strong pressure to share earned income with others; in addition, social groups that undertake more interpersonal transfers work fewer hours. Using a field exp...
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作者：Rosaia, Nicola
作者单位：Columbia University
摘要：I study whether platform competition in app-based transportation generates waste and whether consolidating competing networks would improve efficiency. I build a spatial model of a ride-hailing market where competing platforms set prices strategically and estimate it using detailed data from two major platforms in New York City. Comparing the status quo to simulated counterfactuals, I find that: (i) platform market power and the fragmentation of users across networks cause a $176 million annua...
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作者：Adusumilli, Karun
作者单位：University of Pennsylvania
摘要：We provide a decision-theoretic analysis of bandit experiments under local asymptotics. Working within the framework of diffusion processes, we define suitable notions of asymptotic Bayes and minimax risk for these experiments. For normally distributed rewards, the minimal Bayes risk can be characterized as the solution to a second-order partial differential equation (PDE). Using a limit of experiments approach, we show that this PDE characterization also holds asymptotically under both parame...
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作者：Gennaioli, Nicola; Tabellini, Guido
作者单位：Bocconi University; Bocconi University; Bocconi University; Bocconi University; Leibniz Association; Ifo Institut
摘要：We offer a theory of changing dimensions of political polarization based on endogenous social identity. We formalize voter identity as in Bonomi, Gennaioli, and Tabellini (2021), but add parties that compete on policy and spread stereotypes to persuade voters. Parties are historically connected to different social groups, whose members are more receptive to the party messages. An endogenous switch from class to cultural identity accounts for three major changes: (i) growing cultural conflict b...
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作者：Anderson, Robert M.; Duanmu, Haosui
作者单位：Harbin Institute of Technology; University of California System; University of California Berkeley
摘要：We propose two general equilibrium models, quota equilibrium, and emission tax equilibrium. Government specifies quotas or taxes on emissions, and then refrains from further action. All results remain valid regardless of how government chooses its emissions target. Quota equilibrium exists; the allocation of emission property rights impacts the distribution of welfare. If the only externality arises from total net emissions, quota equilibrium is Pareto optimal among all feasible outcomes with ...
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作者：Chernozhukov, Victor; Demirer, Mert; Duflo, Esther; Fernandez-Val, Ivan
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Boston University
