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作者：Sprumont, Y
作者单位：Universite de Montreal; Universite de Montreal
摘要：Each agent in a finite set requests an integer quantity of an idiosyncratic good; the resulting total cost must be shared among the participating agents. The Aumann-Shapley prices are given by the Shapley value of the game where each unit of each good is regarded as a distinct player. The Aumann-Shapley cost-sharing method charges to an agent the sum of the prices attached to the units she consumes. We show that this method is characterized by the two standard axioms of Additivity and Dummy, a...
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作者：Arcidiacono, P
作者单位：Duke University
摘要：This paper addresses how changing the admission and financial aid rules at colleges affects future earnings. I estimate a structural model of the following decisions by individuals: where to submit applications, which school to attend, and what field to study. The model also includes decisions by schools as to which students to accept and how much financial aid to offer. Simulating how black educational choices would change were they to face the white admission and aid rules shows that race-ba...
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作者：Chesher, A
作者单位：University of London; University College London; London School Economics & Political Science; University of London; University College London
摘要：This paper provides weak conditions under which there is nonparametric interval identification of local features of a structural function that depends on a discrete endogenous variable and is nonseparable in latent variates. The function delivers values of a discrete or continuous outcome and instruments may be discrete valued. Application of the analog principle leads to quantile regression based interval estimators of values and partial differences of structural functions. The results are us...
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作者：Hart, S
摘要：We exhibit a large class of simple rules of behavior, which we call adaptive heuristics, and show that they generate rational behavior in the long run. These adaptive heuristics are based on natural regret measures, and may be viewed as a bridge between rational and behavioral viewpoints. Taken together, the results presented here establish a solid connection between the dynamic approach of adaptive heuristics and the static approach of correlated equilibria.
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作者：Kocherlakota, NR
摘要：In this paper, I consider a dynamic economy in which a government needs to finance a stochastic process of purchases. The agents in the economy are privately informed about their skills, which evolve stochastically over time; I impose no restriction on the stochastic evolution of skills. I construct a tax system that implements a symmetric constrained Pareto optimal allocation. The tax system is constrained to be linear in an agent's wealth, but can be arbitrarily nonlinear in his current and ...
