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作者：Breitmoser, Yves
作者单位：Humboldt University of Berlin
摘要：In the repeated prisoner's dilemma, predictions are notoriously difficult. Recently, however, Blonski, Ockenfels, and Spagnolo (2011)-henceforth, BOS-showed that experimental subjects predictably cooperate when the discount factor exceeds a particular threshold. I analyze individual strategies in four recent experiments to examine whether strategies are predictable, too. Behavior is well summarized by Semi-Grim strategies: cooperate after mutual cooperation, defect after mutual defection, rand...
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作者：Duflo, Esther; Dupas, Pascaline; Kremer, Michael
作者单位：Massachusetts Institute of Technology (MIT); Stanford University; Harvard University
摘要：A seven-year randomized evaluation suggests education subsidies reduce adolescent girls' dropout, pregnancy, and marriage but not sexually transmitted infection (STI). The government's HIV curriculum, which stresses abstinence until marriage, does not reduce pregnancy or STI. Both programs combined reduce STI more, but cut dropout and pregnancy less, than education subsidies alone. These results are inconsistent with a model of schooling and sexual behavior in which both pregnancy and STI are ...
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作者：Coeurdacier, Nicolas; Guibaud, Stephane; Jin, Keyu
作者单位：Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science
摘要：We show that in an open-economy OLG model, the interaction between growth differentials and household credit constraints-more severe in fast-growing countries-can explain three prominent global trends: a divergence in private saving rates between advanced and emerging economies, large net capital outflows from the latter, and a sustained decline in the world interest rate. Micro-level evidence on the evolution of age-saving profiles in the US and China corroborates our mechanism. Quantitativel...
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作者：Bernheim, B. Douglas; Fradkin, Andrey; Popov, Igor
作者单位：Stanford University; National Bureau of Economic Research
摘要：Default contribution rates for 401(k) pension plans powerfully influence choices. Potential causes include opt-out costs, procrastination, inattention, and psychological anchoring. Using realistically parameterized models, we show how the optimal default, the magnitude of the welfare effects, and the degree of normative ambiguity depend on the behavioral model, the scope of the choice domain deemed welfare-relevant, the use of penalties for passive choice, and other 401(k) plan features. While...
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作者：Aguiar, Mark; Bils, Mark
作者单位：Princeton University; National Bureau of Economic Research; University of Rochester
摘要：We revisit to what extent the increase in income inequality since 1980 was mirrored by consumption inequality. We do so by constructing an alternative measure of consumption expenditure using a demand system to correct for systematic measurement error in the Consumer Expenditure Survey. Our estimation exploits the relative expenditure of high-and low-income households on luxuries versus necessities. This double differencing corrects for measurement error that can vary over time by good and inc...
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作者：Macchiavello, Rocco; Morjaria, Ameet
作者单位：University of Warwick; Northwestern University
摘要：This paper provides evidence on the importance of reputation in the context of the Kenyan rose export sector. A model of reputation and relational contracting is developed and tested. A seller's reputation is defined by buyer's beliefs about seller's reliability. We show that (i) due to lack of enforcement, the volume of trade is constrained by the value of the relationship; (ii) the value of the relationship increases with the age of the relationship; and (iii) during an exogenous negative su...
