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作者：Dardanoni, Valentino; Manzini, Paola; Mariotti, Marco; Tyson, Christopher J.
作者单位：University of Palermo; University of Sussex; IZA Institute Labor Economics; University of London; Queen Mary University London
摘要：Theories of bounded rationality often assume a rich dataset of choices from many overlapping menus, limiting their practical applicability. In contrast, we study the problem of identifying the distribution of cognitive characteristics in a population of agents from a minimal dataset that consists of aggregate choice shares from a single menu, and includes no observable covariates of any kind. With homogeneous preferences, we find that consideration capacity and consideration probability distri...
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作者：Akbarpour, Mohammad; Li, Shengwu
作者单位：Stanford University; Harvard University
摘要：Consider an extensive-form mechanism, run by an auctioneer who communicates sequentially and privately with bidders. Suppose the auctioneer can deviate from the rules provided that no single bidder detects the deviation. A mechanism is credible if it is incentive-compatible for the auctioneer to follow the rules. We study the optimal auctions in which only winners pay, under symmetric independent private values. The first-price auction is the unique credible static mechanism. The ascending auc...
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作者：Costinot, Arnaud; Rodriguez-Clare, Andres; Werning, Ivan
作者单位：Massachusetts Institute of Technology (MIT); University of California System; University of California Berkeley
摘要：The empirical observation that large firms tend to export, whereas small firms do not has transformed the way economists think about the determinants of international trade. Yet, it has had surprisingly little impact on how economists think about trade policy. Under very general conditions, we show that from the point of view of a country that unilaterally imposes trade taxes to maximize domestic welfare, the self-selection of heterogeneous firms into exports calls for import subsidies on the ...
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作者：Besley, Timothy
作者单位：University of London; London School Economics & Political Science
摘要：This paper explores the role of civic culture in expanding fiscal capacity by developing a model based on reciprocal obligations: citizens pay their taxes and the state provides public goods. Civic culture evolves over time according to the relative payoff of civic-minded and materialist citizens. A strong civic culture manifests itself as high tax revenues sustained by high levels of voluntary tax compliance and provision of public goods. This captures the idea of government as a reciprocal s...
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作者：Ryan, Nicholas
作者单位：Yale University
摘要：Weak contract enforcement may reduce the efficiency of production in developing countries. I study how contract enforcement affects efficiency in procurement auctions for the largest power projects in India. I gather data on bidding and ex post contract renegotiation and find that the renegotiation of contracts in response to cost shocks is widespread, despite that bidders are allowed to index their bids to future costs like the price of coal. To study heterogeneity in bidding strategies, I co...
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作者：Fagereng, Andreas; Guiso, Luigi; Malacrino, Davide; Pistaferri, Luigi
作者单位：BI Norwegian Business School; Centre for Economic Policy Research - UK; International Monetary Fund; National Bureau of Economic Research; Stanford University
摘要：We provide a systematic analysis of the properties of individual returns to wealth using 12 years of population data from Norway's administrative tax records. We document a number of novel results. First, individuals earn markedly different average returns on their net worth (a standard deviation of 22.1%) and on its components. Second, heterogeneity in returns does not arise merely from differences in the allocation of wealth between safe and risky assets: returns are heterogeneous even withi...
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作者：Doval, Laura; Ely, Jeffrey C.
作者单位：California Institute of Technology; Northwestern University
摘要：We study games of incomplete information as both the information structure and the extensive form vary. An analyst may know the payoff-relevant data but not the players' private information, nor the extensive form that governs their play. Alternatively, a designer may be able to build a mechanism from these ingredients. We characterize all outcomes that can arise in an equilibrium of some extensive form with some information structure. We show how to specialize our main concept to capture the ...
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作者：Sachs, Dominik; Tsyvinski, Aleh; Werquin, Nicolas
作者单位：University of Munich; Yale University; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We study the incidence of nonlinear labor income taxes in an economy with a continuum of endogenous wages. We derive in closed form the effects of reforming non-linearly an arbitrary tax system, by showing that this problem can be formalized as an integral equation. Our tax incidence formulas are valid both when the underlying assignment of skills to tasks is fixed or endogenous. We show qualitatively and quantitatively that contrary to conventional wisdom, if the tax system is initially subop...
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作者：Buera, Francisco J.; Oberfield, Ezra
作者单位：Washington University (WUSTL); Princeton University
摘要：We provide a tractable, quantitatively-oriented theory of innovation and technology diffusion to explore the role of international trade in the process of development. We model innovation and diffusion as a process involving the combination of new ideas with insights from other industries or countries. We provide conditions under which each country's equilibrium frontier of knowledge converges to a Frechet distribution, and derive a system of differential equations describing the evolution of ...
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作者：Ilut, Cosmin; Valchev, Rosen; Vincent, Nicolas
作者单位：Duke University; National Bureau of Economic Research; Boston College; Universite de Montreal; HEC Montreal
摘要：We propose a new theory of price rigidity based on firms' Knightian uncertainty about their competitive environment. This uncertainty has two key implications. First, firms learn about the shape of their demand function from past observations of quantities sold. This learning gives rise to kinks in the expected profit function at previously observed prices, making those prices both sticky and more likely to reoccur. Second, uncertainty about the relationship between aggregate and industry-leve...
