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作者：Chernozhukov, Victor; Fernandez-Val, Ivan; Galichon, Alfred
作者单位：Massachusetts Institute of Technology (MIT); Boston University; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：This paper proposes a method to address the longstanding problem of lack of monotonicity in estimation of conditional and structural quantile functions, also known as the quantile crossing problem (Bassett and Koenker (1982)). The method consists in sorting or monotone rearranging the original estimated non-monotone curve into a monotone rearranged curve. We show that the rearranged curve is closer to the true quantile curve than the original curve in finite samples, establish a functional del...
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作者：Einav, Liran; Finkelstein, Amy; Schrimpf, Paul
作者单位：Stanford University; Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：Much of the extensive empirical literature on insurance markets has focused on whether adverse selection can be detected. Once detected, however, there has been little attempt to quantify its welfare cost or to assess whether and what potential government interventions may reduce these costs. To do so, we develop a model of annuity contract choice and estimate it using data from the U.K. annuity market. The model allows for private information about mortality risk as well as heterogeneity in p...
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作者：Wooders, John
作者单位：University of Arizona
摘要：Does expertise in strategic behavior obtained in the field transfer to the abstract setting of the laboratory? Palacios-Huerta and Volij (2008) argued that the behavior of professional soccer players in mixed-strategy games conforms closely to minimax play, while the behavior of students (who are presumably novices in strategic situations requiring unpredictability) does not. We reexamine their data, showing that the play of professionals is inconsistent with the minimax hypothesis in several ...
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作者：Cunha, Flavio; Heckman, James J.; Schennach, Susanne M.
作者单位：University of Pennsylvania; University of Chicago; University College Dublin; University of Chicago
摘要：This paper formulates and estimates multistage production functions for children's cognitive and noncognitive skills. Skills are determined by parental environments and investments at different stages of childhood. We estimate the elasticity of substitution between investments in one period and stocks of skills in that period to assess the benefits of early investment in children compared to later remediation. We establish nonparametric identification of a general class of production technolog...
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作者：Chassang, Sylvain
作者单位：Princeton University
摘要：This paper develops a framework to assess how fear of miscoordination affects the sustainability of cooperation. Building on theoretical insights from Carlsson and van Damme (1993), it explores the effect of small amounts of private information on a class of dynamic cooperation games with exit. Lack of common knowledge leads players to second guess each other's behavior and makes coordination difficult. This restricts the range of equilibria and highlights the role of miscoordination payoffs i...
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作者：Martins-da-Rocha, V. Filipe; Vailakis, Yiannis
作者单位：Getulio Vargas Foundation; University of Exeter
摘要：This paper proves the existence and uniqueness of a fixed point for local contractions without assuming the family of contraction coefficients to be uniformly bounded away from 1. More importantly it shows how this fixed-point result can apply to study the existence and uniqueness of solutions to some recursive equations that arise in economic dynamics.
