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作者：Andrews, Isaiah; Mikusheva, Anna
作者单位：Massachusetts Institute of Technology (MIT)
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作者：Burtraw, Dallas; Linn, Josh; Palmer, Karen; Paul, Anthony
作者单位：Resources for the Future
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作者：Charles, Kerwin Kofi; Danziger, Sheldon; Li, Geng; Schoeni, Robert
作者单位：University of Chicago; Federal Reserve System - USA; Federal Reserve System Board of Governors; University of Michigan System; University of Michigan
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作者：Murray, Brian C.; Cropper, Maureen L.; de la Chesnaye, Francisco C.; Reilly, John M.
作者单位：Duke University; University System of Maryland; University of Maryland College Park; Electric Power Research Institute (EPRI); Massachusetts Institute of Technology (MIT)
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作者：Taylor, John B.
作者单位：Stanford University
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作者：Bajari, Patrick; Houghton, Stephanie; Tadelis, Steven
作者单位：University of Washington; University of Washington Seattle; National Bureau of Economic Research; University of Texas System; University of Texas Austin; University of California System; University of California Berkeley; eBay Inc.
摘要：Procurement contracts are often renegotiated because of changes that are required after their execution. Using highway paving contracts we show that renegotiation imposes significant adaptation costs. Reduced form regressions suggest that bidders respond strategically to contractual incompleteness and that adaptation costs are an important determinant of their bids. A structural empirical model compares adaptation costs to bidder markups and shows that adaptation costs account for 7.5-14 perce...
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作者：Head, Allen; Lloyd-Ellis, Huw; Sun, Hongfei
作者单位：Queens University - Canada
摘要：The dynamics of house prices, sales, construction, and population growth in response to city-specific income shocks are characterized for 106 US cities. A dynamic model of search in the housing market in which construction, the entry of buyers, house prices, and sales are determined in equilibrium is then developed. The theory generates dynamics qualitatively consistent with the observations and a version calibrated to match key features of the US housing market offers a substantial quantitati...
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作者：Hornbeck, Richard; Naidu, Suresh
作者单位：Harvard University
摘要：In the American South, postbellum economic development may have been restricted in part by white landowners' access to low-wage black labor. This paper examines the impact of the Great Mississippi Flood of 1927 on black out-migration and subsequent agricultural development. Flooded counties experienced an immediate and persistent out-migration of black population. Over time, landowners in flooded counties modernized agricultural production and increased its capital intensity relative to landow...
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作者：Bertrand, Marianne; Bombardini, Matilde; Trebbi, Francesco
作者单位：University of Chicago; University of British Columbia
摘要：Do lobbyists provide issue-specific information to members of Congress? Or do they provide special interests access to politicians? We present evidence to assess the role of issue expertise versus connections in the US Federal lobbying process and illustrate how both are at work. In support of the connections view, we show that lobbyists follow politicians they were initially connected to when those politicians switch to new committee assignments. In support of the expertise view, we show that...
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作者：Benjamin, Daniel J.; Heffetz, Ori; Kimball, Miles S.; Rees-Jones, Alex
作者单位：Cornell University; National Bureau of Economic Research; Cornell University; University of Michigan System; University of Michigan; University of Pennsylvania
摘要：We survey 561 students from US medical schools shortly after they submit choice rankings over residencies to the National Resident Matching Program. We elicit (i) these choice rankings, (ii) anticipated subjective well-being (SWB) rankings, and (iii) expected features of the residencies (such as prestige). We find substantial differences between choice and anticipated-SWB rankings in the implied trade-offs between residency features. In our data, evaluative SWB measures (life satisfaction and ...
