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作者：Bahel, Eric; Sprumont, Yves
作者单位：Virginia Polytechnic Institute & State University; Universite de Montreal; Universite de Montreal
摘要：We model uncertain social prospects as acts mapping states of nature to (social) outcomes. A social choice function (or SCF) assigns an act to each profile of subjective expected utility preferences over acts. An SCF is strategyproof if no agent ever has an incentive to misrepresent her beliefs about the states of nature or her valuation of the outcomes. It is unanimous if it picks the feasible act that all agents find best whenever such an act exists. We offer a characterization of the class ...
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作者：Squicciarini, Mara P.
作者单位：Bocconi University
摘要：This paper studies when religion can hamper diffusion of knowledge and economic development, and through which mechanism. I examine Catholicism in France during the Second Industrial Revolution (1870-1914). In this period, technology became skill-intensive, leading to the introduction of technical education in primary schools. I find that more religious locations had lower economic development after 1870. Schooling appears to be the key mechanism: more religious areas saw a slower adoption of ...
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作者：Jakobsen, Alexander M.
作者单位：University of Calgary
摘要：I study a mechanism design problem involving a principal and a single, boundedly rational agent. The agent transitions among belief states by combining current beliefs with up to K pieces of information at a time. By expressing a mechanism as a complex contract- a collection of clauses, each providing limited information about the mechanism the principal manipulates the agent into believing truthful reporting is optimal. I show that such bounded rationality expands the set of implementable fun...
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作者：Glitz, Albrecht; Meyersson, Erik
作者单位：Pompeu Fabra University; Pompeu Fabra University; Barcelona School of Economics
摘要：In this paper, we investigate the economic returns to industrial espionage. We show that the flow of information provided by East German informants in the West over the period 1970-1989 led to a significant narrowing of sectoral TFP gaps between West and East Germany. These economic returns were primarily driven by relatively few high-quality pieces of information and particularly large in sectors closer to the West German technological frontier. Our findings suggest that the East-to-West Germ...
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作者：Liu, Qingmin
作者单位：Columbia University
摘要：We propose a criterion of stability for two-sided markets with asymmetric information. A central idea is to formulate off-path beliefs conditional on counterfactual pairwise deviations and on-path beliefs in the absence of such deviations. A matching-belief configuration is stable if the matching is individually rational with respect to the system of on-path beliefs and is not blocked with respect to the system of off-path beliefs. The formulation provides a language for assessing matching out...
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作者：Di Tella, Sebastian
作者单位：Stanford University
摘要：This paper proposes a flexible-price theory of the role of money in an economy with incomplete idiosyncratic risk sharing. When the risk premium goes up, money provides a safe store of value that prevents interest rates from falling, reducing investment. Investment is too high during booms when risk is low, and too low during slumps when risk is high. Monetary policy cannot correct this: money is superneutral and Ricardian equivalence holds. The optimal allocation requires the Friedman rule an...
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作者：Depetris-Chauvin, Emilio; Durante, Ruben; Campante, Filipe
作者单位：Pontificia Universidad Catolica de Chile; ICREA; Pompeu Fabra University; Barcelona School of Economics; Johns Hopkins University; National Bureau of Economic Research
摘要：We examine whether shared collective experiences help build a national identity, by looking at the impact of national football teams' victories in sub-Saharan Africa. We find that individuals surveyed in the days after an important victory of their country's national team are 37 percent less likely to identify primarily with their ethnic group, and 30 percent more likely to trust other ethnicities, than those interviewed just before. Crucially, national team achievements also reduce violence: ...
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作者：Basak, Deepal; Zhou, Zhen
作者单位：Indian School of Business (ISB); Tsinghua University
摘要：In a regime change game, privately informed agents sequentially decide whether to attack without observing others' previous actions. To dissuade them from attacking, a principal adopts a dynamic information disclosure policy, frequent viability tests. A viability test publicly discloses whether the regime has survived the previous attacks. When such tests are sufficiently frequent, in the unique cutoff equilibrium, agents never attack if the regime passes the latest test, regardless of their p...
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作者：Dubois, Pierre; Griffith, Rachel; O'Connell, Martin
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; University of London; London School Economics & Political Science; University of Manchester
摘要：Soda taxes aim to reduce excessive sugar consumption. We assess who is most impacted by soda taxes. We estimate demand using micro longitudinal data covering on-the-go purchases, and exploit the panel dimension to estimate individual-specific preferences. We relate these preferences and counterfactual predictions to individual characteristics and show that soda taxes are relatively effective at targeting the sugar intake of the young, are less successful at targeting the intake of those with h...
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作者：Farboodi, Maryam; Veldkamp, Laura
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Centre for Economic Policy Research - UK
摘要：Big data financial technology raises concerns about market inefficiency. A common concern is that the technology might induce traders to extract others' information, rather than to produce information themselves. We allow agents to choose how much they learn about future asset values or about others' demands, and we explore how improvements in data processing shape these information choices, trading strategies and market outcomes. Our main insight is that unbiased technological change can expl...
