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作者：Papaioannou, Elias
作者单位：University of London; London Business School; Center for Economic & Policy Research (CEPR)
摘要：In this note, I discuss avenues for future research stemming from Besley's [this issue] theoretical approach on the interconnections between civicness, institutions, and state-fiscal capacity. First, I lay down some ideas on how one could extend the framework to model fragility traps that characterize many low-income countries and study issues related to nation-building, conflict, and heterogeneity across space and ethnic lines in the provision of public goods. Second, I discuss the relevance ...
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作者：Mossel, Elchanan; Mueller-Frank, Manuel; Sly, Allan; Tamuz, Omer
作者单位：Massachusetts Institute of Technology (MIT); University of Navarra; IESE Business School; Princeton University; California Institute of Technology
摘要：We consider a large class of social learning models in which a group of agents face uncertainty regarding a state of the world, share the same utility function, observe private signals, and interact in a general dynamic setting. We introduce social learning equilibria, a static equilibrium concept that abstracts away from the details of the given extensive form, but nevertheless captures the corresponding asymptotic equilibrium behavior. We establish general conditions for agreement, herding, ...
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作者：Bonhomme, Stephane; Prat, Andrea
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作者：Kline, Patrick; Saggio, Raffaele; Solvsten, Mikkel
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; University of British Columbia; University of Wisconsin System; University of Wisconsin Madison
摘要：We propose leave-out estimators of quadratic forms designed for the study of linear models with unrestricted heteroscedasticity. Applications include analysis of variance and tests of linear restrictions in models with many regressors. An approximation algorithm is provided that enables accurate computation of the estimator in very large data sets. We study the large sample properties of our estimator allowing the number of regressors to grow in proportion to the number of observations. Consis...
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作者：Rostek, Marzena; Yoder, Nathan
作者单位：University of Wisconsin System; University of Wisconsin Madison; University System of Georgia; University of Georgia
摘要：In this paper, we show that stable outcomes exist in matching environments with complementarities, such as social media platforms or markets for patent licenses. Our results apply to both nontransferable and transferable utility settings, and allow for multilateral agreements and those with externalities. In particular, we show that stable outcomes in these settings are characterized by the largest fixed point of a monotone operator, and so can be found using an algorithm; in the nontransferab...
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作者：Fajgelbaum, Pablo D.; Schaal, Edouard
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Centre de Recerca en Economia Internacional (CREI); Pompeu Fabra University; Barcelona School of Economics; Center for Economic & Policy Research (CEPR)
摘要：We study optimal transport networks in spatial equilibrium. We develop a framework consisting of a neoclassical trade model with labor mobility in which locations are arranged on a graph. Goods must be shipped through linked locations, and transport costs depend on congestion and on the infrastructure in each link, giving rise to an optimal transport problem in general equilibrium. The optimal transport network is the solution to a social planner's problem of building infrastructure in each li...
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作者：Santos, Andres
作者单位：University of California System; University of California Los Angeles
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作者：Honore, Bo E.; Hu Luojia
作者单位：Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Chicago
摘要：It is well understood that classical sample selection models are not semiparametrically identified without exclusion restrictions. Lee (2009) developed bounds for the parameters in a model that nests the semiparametric sample selection model. These bounds can be wide. In this paper, we investigate bounds that impose the full structure of a sample selection model with errors that are independent of the explanatory variables but have unknown distribution. The additional structure can significant...
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作者：DeJarnette, Patrick; Dillenberger, David; Gottlieb, Daniel; Ortoleva, Pietro
作者单位：Waseda University; University of Pennsylvania; University of London; London School Economics & Political Science; Princeton University; Princeton University
摘要：We study preferences over lotteries in which both the prize and the payment date are uncertain. In particular, a time lottery is one in which the prize is fixed but the date is random. With Expected Discounted Utility, individuals must be risk seeking over time lotteries (RSTL). In an incentivized experiment, however, we find that almost all subjects violate this property. Our main contributions are theoretical. We first show that within a very broad class of models, which includes many forms ...
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作者：Morris, Stephen
