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作者：Choi, Syngjoo; Kariv, Shachar; Mueller, Wieland; Silverman, Dan
作者单位：University of London; University College London; University of California System; University of California Berkeley; University of Vienna; University of Vienna; Tilburg University; Tilburg University; Arizona State University; Arizona State University-Tempe; National Bureau of Economic Research
摘要：Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Consistency scores vary markedly within and across socioeconomic groups. In particular, consistency is strongly related to wealth: A standard deviation increase in consistency is associated with 15-19 percent more household wealth. This associatio...
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作者：Heller, Yuval
作者单位：University of Oxford
摘要：Demichelis and Weibull (2008) show that adding lexicographic lying costs to coordination games with cheap talk yields a sharp prediction: only the efficient outcome is evolutionarily stable. I show that this result is caused by the discontinuity of preferences rather than by small lying costs per se. Finally, I discuss why discontinuity may not be an appealing assumption in evolutionary models.
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作者：Kellogg, Ryan
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research
摘要：This paper estimates the response of investment to changes in uncertainty using data on oil drilling in Texas and the expected volatility of the future price of oil. Using a dynamic model of firms' investment problem, I find that: (i) the response of drilling activity to changes in price volatility has a magnitude consistent with the optimal response prescribed by theory, (ii) the cost of failing to respond to volatility shocks is economically significant, and (iii) implied volatility data der...
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作者：Bagger, Jesper; Fontaine, Francois; Postel-Vinay, Fabien; Robin, Jean-Marc
作者单位：University of London; Royal Holloway University London; College of American Pathologists; Universite de Lorraine; Centre National de la Recherche Scientifique (CNRS); Institut Polytechnique de Paris; ENSAE Paris; University of London; University College London; Institut d'Etudes Politiques Paris (Sciences Po); Institut d'Etudes Politiques Paris (Sciences Po); University of London; University College London
摘要：We develop and estimate an equilibrium job search model of worker careers, allowing for human capital accumulation, employer heterogeneity, and individual-level shocks. Wage growth is decomposed into contributions of human capital and job search, within and between jobs. Human capital accumulation is largest for highly educated workers. The contribution from job search to wage growth, both within and between jobs, declines over the first ten years of a career-the job-shopping phase of a workin...
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作者：Adamopoulos, Tasso; Restuccia, Diego
作者单位：York University - Canada; University of Toronto
摘要：We study the determinants of differences in farm size across countries and their impact on agricultural and aggregate productivity using a quantitative sectoral model featuring a distribution of farms. Measured aggregate factors (capital, land, economy-wide productivity) account for one-quarter of the observed differences in farm size and productivity. Policies and institutions that misallocate resources across farms have the potential to account for the remaining differences. Exploiting withi...
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作者：Crost, Benjamin; Felter, Joseph; Johnston, Patrick
作者单位：University of Colorado System; University of Colorado Denver; Children's Hospital Colorado; University of Colorado Anschutz Medical Campus; Stanford University; Stanford University; RAND Corporation
摘要：We estimate the causal effect of a large development program on conflict in the Philippines through a regression discontinuity design that exploits an arbitrary poverty threshold used to assign eligibility for the program. We find that barely eligible municipalities experienced a large increase in conflict casualties compared to barely ineligible ones. This increase is mostly due to insurgent-initiated incidents in the early stages of program preparation. Our results are consistent with the hy...
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作者：Stephens, Melvin, Jr.; Yang, Dou-Yan
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research; Carnegie Mellon University
摘要：Causal estimates of the benefits of increased schooling using US state schooling laws as instruments typically rely on specifications which assume common trends across states in the factors affecting different birth cohorts. Differential changes across states during this period, such as relative school quality improvements, suggest that this assumption may fail to hold. Across a number of outcomes including wages, unemployment, and divorce, we find that statistically significant causal estimat...
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作者：Duffy, John; Puzzello, Daniela
作者单位：University of California System; University of California Irvine; Indiana University System; Indiana University Bloomington
摘要：We study the Lagos and Wright (2005) model of monetary exchange in the laboratory. With a finite population of sufficiently patient agents, this model has a unique monetary equilibrium and a continuum of non-monetary gift exchange equilibria, some of which Pareto dominate the monetary equilibrium. We find that subjects avoid the gift exchange equilibria in favor of the monetary equilibrium. We also study versions of the model without money where all equilibria involve non-monetary gift exchang...
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作者：Hummels, David; Jorgensen, Rasmus; Munch, Jakob; Xiang, Chong
作者单位：Purdue University System; Purdue University; National Bureau of Economic Research; University of Copenhagen
摘要：We employ data that match the population of Danish workers to the universe of private-sector Danish firms, with product-level trade flows by origin-and destination-countries. We document new stylized facts about offshoring and instrument for offshoring and exporting. Within job spells, offshoring increases (decreases) the high-skilled (low-skilled) wage; exporting increases the wages of all skill-types; the net wage-effect of trade varies substantially within the same skill-type; conditional o...
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作者：Damm, Anna Piil; Dustmann, Christian
作者单位：Aarhus University; University of London; University College London
摘要：This paper investigates the effect of early exposure to neighborhood crime on subsequent criminal behavior of youth exploiting a unique natural experiment between 1986 and 1998 when refugee immigrants to Denmark were assigned to neighborhoods quasi-randomly. We find strong evidence that the share of young people convicted for crimes, in particular violent crimes, in the neighborhood increases convictions of male assignees later in life. No such effects are found for other measures of neighborh...
