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作者：Anderson, Axel; Smith, Lones
作者单位：Georgetown University; University of Wisconsin System; University of Wisconsin Madison
摘要：We create a general and tractable theory of increasing sorting in pairwise matching models with monetary transfers. The positive quadrant dependence partial order subsumes Becker (1973) as the extreme cases with most and least sorting and implies increasing regression coefficients. Our theory turns on synergy-the cross -partial difference or derivative of match production. This reflects basic economic forces: diminishing returns, technological convexity, insurance, and learning dynamics. We pr...
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作者：Exley, Christine L.; Nielsen, Kirby
作者单位：University of Michigan System; University of Michigan; California Institute of Technology
摘要：We investigate how the gender gap in confidence affects the views that evaluators (e.g., employers) hold about men and women. We find the confidence gap is contagious, causing evaluators to form overly pessimistic beliefs about women. This result arises even though the confidence gap is expected and even though the confidence gap shouldn't be contagious if evaluators are Bayesian. Only an intervention that facilitates Bayesian updating proves (somewhat) effective. Additional results highlight ...
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作者：Clark, Robert; Horstmann, Ig; Houde, Jean-Francois
作者单位：Queens University - Canada; University of Toronto; University of Wisconsin System; University of Wisconsin Madison; National Bureau of Economic Research
摘要：Numerous recently uncovered cartels operated along the supply chain, with firms at one end facilitating collusion at the otherhub -and -spoke arrangements. These cartels are hard to rationalize because they induce double marginalization and higher costs. We examine Canada's alleged bread cartel and provide the first comprehensive analysis of hub -and -spoke collusion. Using court documents and pricing data, we make three contributions: (i) we show that collusion was effective, increasing infla...
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作者：Atal, Juan pablo; Cuesta, Jost Ignacio; Gonzalez, Felipe; Otero, Cristobal
作者单位：University of Pennsylvania; Stanford University; National Bureau of Economic Research; University of London; Queen Mary University London
摘要：We study the effects of competition by state-owned firms, leveraging the decentralized entry of public pharmacies to local markets in Chile. Public pharmacies sell the same drugs at a third of private pharmacy prices, because of stronger upstream bargaining and market power in the private sector, but are of lower quality. Public pharmacies induced market segmentation and price increases in the private sector, which benefited the switchers to the public option but harmed the stayers. The countr...
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作者：Esponda, Ignacio; Vespa, Emanuel; Yuksel, Sevgi
作者单位：University of California System; University of California Santa Barbara; University of California System; University of California San Diego
摘要：We experimentally document persistence of suboptimal behavior despite ample opportunities to learn from feedback in a canonical updating problem where people suffer from base -rate neglect. Our results provide insights on the mechanisms hindering learning from feedback. Importantly, our results suggest mistakes are more likely to be persistent when they are driven by incorrect mental models that miss or misrepresent important aspects of the environment. Such models induce confidence in initial...
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作者：Coibion, Olivier; Georgarakos, Dimitris; Gorodnichenko, Yuriy; Kenny, Geoff; Weber, Michael
作者单位：University of Texas System; University of Texas Austin; European Central Bank; University of California System; University of California Berkeley; University of Chicago
摘要：We use randomized treatments that provide different types of information about the first and/or second moments of future economic growth to generate exogenous changes in the perceived macroeconomic uncertainty of treated households. The effects on their spending decisions relative to an untreated control group are measured in follow-up surveys. Our results indicate that, after taking into account first moments, higher macroeconomic uncertainty induces households to significantly and persistent...
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作者：Buntaine, Mark T.; Greenstone, Michael; He, Guojun; Liu, Mengdi; Wang, Shaoda; Zhang, Bing
作者单位：University of California System; University of California Santa Barbara; University of Chicago; National Bureau of Economic Research; University of Hong Kong; University of International Business & Economics; Nanjing University of Finance & Economics; Nanjing University
摘要：We conducted a nationwide field experiment in China to evaluate the direct and indirect impacts of assigning firms to public or private citizen appeals when they violate pollution standards. There are three main findings. First, public appeals to the regulator through social media substantially reduce violations and pollution emissions, while private appeals cause more modest environmental improvements. Second, public appeals appear to tilt regulators' focus away from facilitating economic gro...
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作者：Bollerslev, Tim; Li, Jia; Ren, Yuexuan
作者单位：Duke University; National Bureau of Economic Research; Singapore Management University
摘要：Betas from return regressions are commonly used to measure systematic financial market risks. Good beta measurements are essential for a range of empirical inquiries in finance and macroeconomics. We introduce a novel econometric framework for the nonparametric estimation of time -varying betas with high -frequency data. The local Gaussian property of the generic continuous -time benchmark model enables optimal finite -sample inference in a well-defined sense. It also affords more reliable in...
