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作者：Heimer, Rawley; Iliewa, Zwetelina; Imas, Alex; Weber, Martin
作者单位：Arizona State University; Arizona State University-Tempe; University of Bonn; University of Chicago; University of Mannheim
摘要：We document a robust dynamic inconsistency in risky choice. Using a unique brokerage dataset and a series of experiments, we compare people's initial risk-taking plans to their subsequent decisions. Across settings, people accept risk as part of a loss-exit strategy-planning to continue taking risk after gains and stopping after losses. Actual behavior deviates from initial strategies by cutting gains early and chasing losses. More people accept risk when offered a commitment to their initial ...
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作者：Bucher-Koenen, Tabea; Hackethal, Andreas; Koenen, Johannes; Laudenbach, Christine
作者单位：Leibniz Association; Zentrum fur Europaische Wirtschaftsforschung (ZEW); University of Mannheim; Goethe University Frankfurt
摘要：Based on data gathered from 27,000 real-world meetings between financial advisors and clients of a large German bank, we show that advisors offer more self-serving advice to women, while men are more likely to receive sales fee rebates and less likely to be recommended expensive in-house multi-asset (IHMA) funds. Additional client and advisor surveys provide evidence consistent with statistical discrimination based on gender as a proxy for client financial sophistication, with female clients e...
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作者：Acemoglu, Daron
作者单位：Massachusetts Institute of Technology (MIT)
摘要：This paper reviews the main motivations and arguments of my work on comparative development, colonialism, and institutional change, which was often carried out jointly with James Robinson and Simon Johnson. I then provide a simple framework to organize these ideas and connect them with my research on innovation and technology. The framework is centered around a utility-technology possibilities frontier, which delineates the possible distributions of resources in a society both for given techno...
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作者：Boudreau, Laura; Macchiavello, Rocco; Minni, Virginia; Tanaka, Mari
作者单位：Center for Economic & Policy Research (CEPR); Columbia University; National Bureau of Economic Research; University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR); University of Chicago; IZA Institute Labor Economics; University of Tokyo; Hitotsubashi University
摘要：Social movements are catalysts for crucial institutional changes. To succeed, they must coordinate members' views (consensus building) and actions (mobilization). We study union leaders within Myanmar's burgeoning labor movement. Union leaders are positively selected on both ability and personality traits that enable them to influence others, yet they earn lower wages. In group discussions about workers'views on an upcoming national minimum wage negotiation, randomly embedded leaders build con...
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作者：Choukhmane, Taha
作者单位：Massachusetts Institute of Technology (MIT)
摘要：Using data from over 100 US retirement plans and a representative UK panel, I document the impact of auto-enrollment (AE) on retirement savings at different horizons. I replicate the impact of AE on participation and contributions in the short run (at 12 months), but I show that these gains are attenuated over the medium run (at 36 months). At this longer horizon, the average savings increases are modest, though AE significantly lowers inequality in savings. To assess AE's lifetime impact, I e...
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作者：Abou Daher, Chaza; Field, Erica; Swanson, Kendal; Vyborny, Kate
作者单位：Duke University; National Bureau of Economic Research; Duke University; The World Bank
摘要：We conduct a field experiment to quantify the impact of the lifting of the Saudi women's driving ban on women's employment by randomizing rationed spaces in driver's training. Treated women are 41 percent more likely to be employed yet are 19 percent less likely to be able to make purchases without family permission. Patterns of heterogeneous treatment effects reveal that these divergent impacts of access to driving are experienced by distinct subgroups of women. The results underscore the imp...
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作者：Amodio, Francesco; Medina, Pamela; Morlacco, Monica
作者单位：McGill University; IZA Institute Labor Economics; University of Toronto; University Toronto Scarborough; University of Toronto; University of Southern California
摘要：This paper shows that self-employment shapes labor market power in low-income countries, with implications for industrial development. Using Peruvian data, we find that wage-setting power increases with employer concentration but less so where self-employment is more prevalent. A general equilibrium model shows that in oligopsonistic labor markets, self-employment raises the supply elasticity of wage labor, weakening employer market power. However, by the same mechanism, procompetitive policie...
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作者：Gormsen, Niels Joachim; Huber, Kilian
作者单位：University of Chicago
摘要：We construct a dataset of firms' discount rates (i.e., required returns to capital) and perceived cost of capital using corporate conference calls. The relation between discount rates and the cost of capital is far below the one-to-one mapping assumed in standard theory, as it takes many years for changes in the cost of capital to be incorporated into discount rates. This pattern leads to large and time-varying discount rate wedges that affect firm investment. Moreover, increasing discount rat...
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作者：Humlum, Anders; Munch, Jakob R.; Plato, Pernille
作者单位：University of Chicago
摘要：We provide the first evidence on how workers invest in human capital after losing ability. Using quasi-random work accidents in Danish administrative data, we find that workers enroll in bachelor's programs after physical injuries, pursuing degrees that build on their past training and experience. Exploiting institutional differences in the stackability of degrees, we find that higher education moves injured workers from disability benefits to full-time employment, earning 25 percent more than...
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作者：Doraszelski, Ulrich; Seim, Katja; Sinkinson, Michael; Wang, Peichun
作者单位：University of Pennsylvania; Yale University; Yale University; Northwestern University; University of Hong Kong
摘要：We explore the implications of ownership concentration for the recently concluded incentive auction that repurposed spectrum from broadcast TV to mobile broadband usage in the United States. We document significant multilicense ownership of TV stations. We show that in the reverse auction, in which TV stations bid to relinquish their licenses, multilicense owners have an incentive to withhold some TV stations to drive up prices for their remaining TV stations. Using a large-scale valuation and...
