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作者：Plott, Charles. R.; Lee, Hsing-Yang; Maron, Travis
作者单位：California Institute of Technology
摘要：The paper reviews the prominent features of a continuous, combinatorial auction. A brief discussion of background material helps draw distinctions between auction architectures. Background definitions, rules, and operational features define the auction in Section II. Testing and performance are outlined in Section III.
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作者：Sunstein, Cass R.
作者单位：Harvard University
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作者：Midrigan, Virgiliu; Xu, Daniel Yi
作者单位：New York University; National Bureau of Economic Research; Duke University
摘要：We use producer-level data to evaluate the role of financial frictions in determining total factor productivity (TFP). We study a model of establishment dynamics in which financial frictions reduce TFP through two channels. First, finance frictions distort entry and technology adoption decisions. Second, finance frictions generate dispersion in the returns to capital across existing producers and thus productivity losses from misallocation. Parameterizations of our model consistent with the da...
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作者：Ho, Kate; Pakes, Ariel
作者单位：Columbia University; Harvard University
摘要：We estimate an insurer-specific preference function which rationalizes hospital referrals for privately insured births in California. The function is additively separable in: a hospital price paid by the insurer, the distance traveled, and plan-and severity-specific hospital fixed effects (capturing hospital quality). We use an inequality estimator that allows for errors in price and detailed - hospital-severity interactions and obtain markedly different results than those from a logit. The es...
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作者：Al-Najjar, Nabil; Pomatto, Luciano; Sandroni, Alvaro
作者单位：Northwestern University
摘要：Hume (1748) challenged the idea that a general claim (e.g., all swans are white) can be validated by empirical evidence, no matter how compelling. We examine this issue from the perspective of a tester who must accept or reject the forecasts of a potential expert. If experts can be skeptical about the validity of claims then they can evade rejection strategically. In contrast, if experts are required to conclude that claims backed by sufficient evidence are likely to be true, then they can be ...
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作者：Kubler, Felix; Selden, Larry; Wei, Xiao
作者单位：University of Zurich; Columbia University; University of Pennsylvania; University of Pennsylvania
摘要：We provide conditions under which contingent claim and asset demands are consistent with state independent Expected Utility maximization. The paper focuses on the case of a single commodity and demands are allowed to be functions of probabilities and not just prices and income. We extend prior analyses by deriving three distinct tests for demands to be rationalized by Expected Utility: (i) a contingent claim analogue to the certainty strong axiom of revealed preference, (ii) a characterization...
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作者：Bourgeon, Jean-Marc; Picard, Pierre
作者单位：INRAE; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：Insurers have the reputation of being bad payers who nitpick whenever an opportunity arises. However, this nitpicking activity has a positive impact on their auditing strategy since auditing may prove profitable when claims are not fraudulent. We show that reducing the indemnity payments of audited claims induces a lower fraud rate at equilibrium and that some degree of nitpicking is socially optimal when insurance fraud is a concern. Its remains optimal even if it induces adverse effects on p...
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作者：Martin, Ralf; Muuls, Mirabelle; de Preux, Laure B.; Wagner, Ulrich J.
作者单位：Imperial College London; Universidad Carlos III de Madrid
摘要：When regulated firms are offered compensation to prevent them from relocating, efficiency requires that payments be distributed across firms so as to equalize marginal relocation probabilities, weighted by the damage caused by relocation. We formalize this fundamental economic logic and apply it to analyzing compensation rules proposed under the EU Emissions Trading Scheme, where emission permits are allocated free of charge to carbon-intensive and trade-exposed industries. We show that this p...
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作者：Gourio, Francois; Rudanko, Leena
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
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作者：Kessler, Judd B.; Roth, Alvin E.
作者单位：University of Pennsylvania; Stanford University
