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作者：Kapor, Adam
作者单位：Princeton University; Princeton University
摘要：Transparency versus opacity is an important dimension of college admission policy. Colleges may gain useful information from a holistic review of applicants' materials, but in doing so may contribute to uncertainty that discourages potential applicants with poor information. This paper investigates the impacts of admissions transparency in the context of Texas' Top Ten Percent Plan, using survey and administrative data from Texas and a model of college applications, admissions, enrollment, gra...
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作者：Lau, Morten I.; Yoo, Hong Il
作者单位：Copenhagen Business School; Durham University; Loughborough University; University of Cape Town
摘要：Structural measures of higher order risk attitudes have well-developed foundations in Expected Utility Theory (EUT), but little is known about their empirical magnitudes. We introduce a novel experimental design and a companion econometric model that allows us to structurally estimate indices of risk aversion, prudence, and temperance under EUT without imposing restrictions on their interdependence. We find that indices of absolute risk aversion, prudence, and temperance exhibit distinct patte...
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作者：Breunig, Christoph; Liu, Ruixuan; Yu, Zhengfei
作者单位：University of Bonn; Chinese University of Hong Kong; University of Tsukuba
摘要：We propose a double robust Bayesian inference procedure on the average treatment effect (ATE) under unconfoundedness. For our new Bayesian approach, we first adjust the prior distributions of the conditional mean functions, and then correct the posterior distribution of the resulting ATE. Both adjustments make use of pilot estimators motivated by the semiparametric influence function for ATE estimation. We prove asymptotic equivalence of our Bayesian procedure and efficient frequentist ATE est...
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作者：Trebbi, Francesco
作者单位：University of California Berkeley; University of California System; University of California Berkeley; National Bureau of Economic Research
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作者：Farrokhi, Farid; Lashkaripour, Ahmad
作者单位：Boston College; Indiana University System; Indiana University Bloomington
摘要：Trade policy is often cast as a solution to the free-riding problem in international climate agreements. This paper examines the extent to which trade policy can deliver on this promise. We incorporate global supply chains of carbon and climate externalities into a multi-country, multi-industry general equilibrium trade model. By deriving theoretical formulas for optimal carbon and border taxes, we quantify the maximum efficacy of two trade policy solutions to the free-riding problem. Adding o...
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作者：Lanzani, Giacomo
作者单位：University of California System; University of California Berkeley
摘要：I consider an agent who posits a set of probabilistic models for the payoff-relevant outcomes. The agent has a prior over this set but fears the actual model is omitted and hedges against this possibility. The concern for misspecification is endogenous: If a model explains the previous observations well, the concern attenuates. I show that different static preferences under uncertainty (subjective expected utility, maxmin, robust control) arise in the long run, depending on how quickly the age...
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作者：Armstrong, Timothy B.; Kline, Patrick; Sun, Liyang
作者单位：University of Southern California; University of California System; University of California Berkeley; National Bureau of Economic Research; University of London; University College London
摘要：Empirical research typically involves a robustness-efficiency tradeoff. A researcher seeking to estimate a scalar parameter can invoke strong assumptions to motivate a restricted estimator that is precise but may be heavily biased, or they can relax some of these assumptions to motivate a more robust, but variable, unrestricted estimator. When a bound on the bias of the restricted estimator is available, it is optimal to shrink the unrestricted estimator towards the restricted estimator. For s...
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作者：Gennaioli, Nicola; Tabellini, Guido
作者单位：Bocconi University; Bocconi University; Bocconi University; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut
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作者：Amir, Rabah; Rietzke, David
作者单位：University of Iowa; Lancaster University
摘要：Milgrom and Shannon (1994) provide necessary and sufficient conditions on parameterized optimization problems for their solution sets to be globally monotone in the parameter. We establish that their conditions may be significantly relaxed when focusing on discrete, binary comparisons between solution sets. Such binary comparisons are ubiquitous in economics and may involve comparing the same decision maker across two distinct regimes or two distinct decision makers with related objectives (e....
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作者：Arellano, Manuel; Bonhomme, Stephane; Suarez, Sofia Borodich; Schumann, Martin; Shi, Xiaoxia; Tripathi, Gautam
作者单位：University of Chicago; University of Luxembourg; Maastricht University; University of Wisconsin System; University of Wisconsin Madison
