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作者：Miller, Nathan H.; Sheu, Gloria; Weinberg, Matthew C.
作者单位：Georgetown University; Federal Reserve System - USA; Federal Reserve System Board of Governors; University System of Ohio; Ohio State University
摘要：We study a repeated game of price leadership in which a firm proposes supermarkups over Bertrand prices to a coalition of rivals. Supermarkups and marginal costs are recoverable from data on prices and quantities using the model's structure. In an application to the beer industry, we find that price leadership increases profit relative to Bertrand competition by 17 percent in fiscal years 2006 and 2007, and by 22 percent in 2010 and 2011, with the change mostly due to consolidation. We simulat...
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作者：Hebert, Benjamin; Woodford, Michael
作者单位：Stanford University; Columbia University
摘要：We derive a new cost of information in rational inattention problems, the neighborhood-based cost functions, starting from the observation that many settings involve exogenous states with a topological structure. These cost functions are uniformly posterior separable and capture notions of perceptual distance. This second property ensures that neighborhood-based costs, unlike mutual information, make accurate predictions about behavior in perceptual experiments. We compare the implications of ...
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作者：Dinerstein, Michael; Smith, Troy D.
作者单位：University of Chicago; National Bureau of Economic Research; Leibniz Association; Ifo Institut; RAND Corporation
摘要：School policies that cause a large demand shift between public and private schooling may cause some private schools to enter or exit the market. We study how the policy effects differ under a fixed versus changing market structure in the context of a public school funding reform in New York City. We find evidence of a reduction in private schools in response to the reform. Using a model of demand for and supply of private schooling, we estimate that 20 percent of the reform's effect on school ...
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作者：Gagnon-Bartsch, Tristan; Pagnozzi, Marco; Rosato, Antonio
作者单位：Harvard University; Harvard University; University of Naples Federico II; University of Technology Sydney
摘要：We explore how taste projection-the tendency to overestimate how similar others' tastes are to one's own affects bidding in auctions. In first-price auctions with private values, taste projection leads bidders to exaggerate the intensity of competition and, consequently, to overbid-irrespective of whether values are independent, affiliated, or (a)symmetric. Moreover, the optimal reserve price is lower than the rational benchmark, and decreasing in the extent of projection and the number of bid...
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作者：Breza, Emily; Kaur, Supreet; Shamdasani, Yogita
作者单位：Harvard University; University of California System; University of California Berkeley; National University of Singapore
摘要：This paper measures excess labor supply in equilibrium. We induce hiring shocks which employ 24 percent of the labor force in external month-long jobs-in Indian local labor markets. In peak months, wages increase instantaneously and local aggregate employment declines. In lean months, consistent with severe labor rationing, wages and aggregate employment are unchanged, with positive employment spillovers on remaining workers, indicating that over a quarter of labor supply is rationed. At least...
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作者：Serra-Garcia, Marta; Gneezy, Uri
作者单位：University of California System; University of California San Diego; Leibniz Association; Ifo Institut
摘要：Mistakes and overconfidence in detecting lies could help lies spread. Participants in our experiments observe videos in which senders either tell the truth or lie, and are incentivized to distinguish between them. We find that participants fail to detect lies, but are overconfident about their ability to do so. We use these findings to study the determinants of sharing and its effect on lie detection, finding that even when incentivized to share truthful videos, participants are more likely to...
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作者：Moretti, Enrico
作者单位：University of California System; University of California Berkeley; National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：The high-tech sector is concentrated in a small number of cities. The ten largest clusters in computer science, semiconductors, and biology account for 69 percent, 77 percent, and 59 percent of all US inventors, respectively. Using longitudinal data on 109,846 inventors, I find that geographical agglomeration results in significant productivity gains. When an inventor moves to a city with a large cluster of inventors in the same field, she experiences a sizable increase in the number and quali...
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作者：Weaver, Jeffrey
作者单位：University of Southern California
摘要：Corrupt government hiring is common in developing countries. This paper uses original data to document the operation and consequences of corrupt hiring in a health bureaucracy. Hires pay bribes averaging 17 months of salary, but contrary to conventional wisdom, their observable quality is comparable to counterfactual merit-based hires. Exploiting variation across jobs, I show that the consequences of corrupt allocations depend on the correlation between wealth and quality among applicants: ser...
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作者：Gerard, Francois; Lagos, Lorenzo; Severnini, Edson; Card, David
作者单位：University of London; Queen Mary University London; Centre for Economic Policy Research - UK; Brown University; Carnegie Mellon University; National Bureau of Economic Research; University of California System; University of California Berkeley
摘要：We measure the effects of firm policies on racial pay differences in Brazil. Non-Whites are less likely to be hired by high-wage firms, explaining about 20 percent of the racial wage gap for both genders. Firm-specific pay premiums for non-Whites are also compressed relative to Whites, contributing another 5 percent for that gap. A counterfactual analysis reveals that about two-thirds of the underrepresentation of non-Whites at higher-wage firms is explained by race-neutral skill-based sorting...
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作者：Decarolis, Francesco; Rovigatti, Gabriele
作者单位：Bocconi University; Bocconi University; European Central Bank; Bank of Italy
摘要：This paper analyzes the impact of intermediary concentration on the allocation of revenue in online platforms. We study sponsored search documenting how advertisers increasingly bid through a handful of specialized intermediaries. This enhances automated bidding and data pooling, but lessens competition whenever the intermediary represents competing advertisers. Using data on nearly 40 million Google keyword auctions, we first apply machine learning algorithms to cluster keywords into thematic...
