-
作者：Azrieli, Yaron
作者单位：University System of Ohio; Ohio State University
摘要：Say that one information structure is eventually Blackwell sufficient for another if, for every large enough n, an n-sample from the first is Blackwell sufficient (Blackwell (1951, 1954)) for an n-sample from the second. This note shows that eventual Blackwell sufficiency lies strictly between (one-shot) Blackwell sufficiency and the ordering of information structures formulated by Moscarini and Smith (2002), and thus offers a new criterion for comparing experiments. A characterization of even...
-
作者：Charness, Gary; Feri, Francesco; Melendez-Jimenez, Miguel A.; Sutter, Matthias
作者单位：University of California System; University of California Santa Barbara; IZA Institute Labor Economics; Leibniz Association; Ifo Institut; University of London; Royal Holloway University London; University of Trieste; Universidad de Malaga; European University Institute; University of Innsbruck; University of Cologne
摘要：In this paper, we describe a series of laboratory experiments that implement specific examples of a general network structure. Specifically, actions are either strategic substitutes or strategic complements, and participants have either complete or incomplete information about the structure of a random network. Since economic environments typically have a considerable degree of complementarity or substitutability, this framework applies to a wide variety of settings. We examine behavior and eq...
-
作者：Golosov, Mikhail; Hassler, John; Krusell, Per; Tsyvinski, Aleh
作者单位：Princeton University; Stockholm University; Yale University
摘要：We analyze a dynamic stochastic general-equilibrium (DSGE) model with an externalitythrough climate changefrom using fossil energy. Our central result is a simple formula for the marginal externality damage of emissions (or, equivalently, for the optimal carbon tax). This formula, which holds under quite plausible assumptions, reveals that the damage is proportional to current GDP, with the proportion depending only on three factors: (i) discounting, (ii) the expected damage elasticity (how ma...
-
作者：Shin, Hyun Song
-
作者：Heckman, James J.
-
作者：Rivkin, Steven G.; Hanushek, Eric A.; Kain, John F.
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital; Stanford University; University of Texas System; University of Texas Dallas
-
作者：Chen, Xiaohong; Chernozhukov, Victor; Lee, Sokbae; Newey, Whitney K.
作者单位：Yale University; Massachusetts Institute of Technology (MIT); Seoul National University (SNU)
摘要：In parametric, nonlinear structural models, a classical sufficient condition for local identification, like Fisher (1966) and Rothenberg (1971), is that the vector of moment conditions is differentiable at the true parameter with full rank derivative matrix. We derive an analogous result for the nonparametric, nonlinear structural models, establishing conditions under which an infinite dimensional analog of the full rank condition is sufficient for local identification. Importantly, we show th...
-
作者：Acemoglu, Daron; Hansen, Lars Peter; Jackson, Matthew O.; Jehiel, Philippe; Robin, Jean-Marc; Sobel, Joel; Tamer, Elie
-
作者：Romano, Joseph P.; Shaikh, Azeem M.; Wolf, Michael
作者单位：Stanford University; University of Chicago; University of Zurich
摘要：This paper considers the problem of testing a finite number of moment inequalities. We propose a two-step approach. In the first step, a confidence region for the moments is constructed. In the second step, this set is used to provide information about which moments are negative. A Bonferonni-type correction is used to account for the fact that, with some probability, the moments may not lie in the confidence region. It is shown that the test controls size uniformly over a large class of distr...
-
作者：Abramitzky, Ran; Lavy, Victor
作者单位：Stanford University; National Bureau of Economic Research; University of Warwick; Hebrew University of Jerusalem
摘要：This paper uses an unusual pay reform to test the responsiveness of investment in schooling to changes in redistribution schemes that increase the rate of return to education. We exploit an episode where different Israeli kibbutzim shifted from equal sharing to productivity-based wages in different years and find that students in kibbutzim that reformed earlier invested more in high school education and, in the long run, also in post-secondary schooling. We further show that the effect is main...
