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作者：Chen, Jiawei; Esteban, Susanna; Shum, Matthew
作者单位：University of California System; University of California Irvine; Autonomous University of Barcelona; Autonomous University of Barcelona; Barcelona School of Economics; California Institute of Technology
摘要：To investigate whether secondary markets aid or harm durable goods manufacturers, we build a dynamic model of durable goods oligopoly with transaction costs in the secondary market. Calibrating model parameters using data from the US automobile industry, we find the net effect of opening the secondary market is to decrease new car manufacturers' profits by 35 percent. Counterfactual scenarios in which the size of the used good stock decreases, such as when products become less durable, when th...
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作者：Cappelen, Alexander W.; Konow, James; Sorensen, Erik O.; Tungodden, Bertil
作者单位：Norwegian School of Economics (NHH); University of Kiel; Leibniz Association; Institut fur Weltwirtschaft an der Universitat Kiel (IFW); Loyola Marymount University
摘要：Choices involving risk significantly affect the distribution of income and wealth in society. This paper reports the results of the first experiment, to our knowledge, to study fairness views about risk-taking, specifically whether such views are based chiefly on ex ante opportunities or on ex post outcomes. We find that, even though many participants focus exclusively on ex ante opportunities, most favor some redistribution ex post. Many participants also make a distinction between ex post in...
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作者：Armour, Philip; Burkhauser, Richard V.; Larrimore, Jeff
作者单位：Cornell University; University of Melbourne
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作者：Busso, Matias; Gregory, Jesse; Kline, Patrick
作者单位：Inter-American Development Bank; University of Wisconsin System; University of Wisconsin Madison; University of California System; University of California Berkeley
摘要：This paper empirically assesses the incidence and efficiency of Round I of the federal urban Empowerment Zone (EZ) program using confidential microdata from the Decennial Census and the Longitudinal Business Database. Using rejected and future applicants to the EZ program as controls, we find that EZ designation substantially increased employment in zone neighborhoods and generated wage increases for local workers without corresponding increases in population or the local cost of living. The r...
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作者：Cabrales, Antonio; Gossner, Olivier; Serrano, Roberto
作者单位：Universidad Carlos III de Madrid; Paris School of Economics; Centre National de la Recherche Scientifique (CNRS); Brown University; Brown University
摘要：Consider an investor who fears ruin when facing investments that satisfy no-arbitrage. Before investing he can purchase information about the state of nature as an information structure. Given his prior, information structure alpha investment dominates information structure beta if, whenever he is willing to buy beta at some price, he is also willing to buy alpha at that price. We show that this informativeness ordering is complete and is represented by the decrease in entropy of his beliefs, ...
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作者：Cotton, Christopher
作者单位：University of Miami
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作者：Kolstad, Jonathan T.
作者单位：University of Pennsylvania; National Bureau of Economic Research
摘要：If profit maximization is the objective of a firm, new information about quality should affect firm behavior only through its effects on market demand. I consider an alternate model in which suppliers are motivated by a desire to perform well in addition to profit. The introduction of quality report cards for cardiac surgery in Pennsylvania provides an empirical setting to isolate the relative role of extrinsic and intrinsic incentives in determining surgeon response. Information on performanc...
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作者：Dhingra, Swati
作者单位：University of London; London School Economics & Political Science
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作者：Oster, Emily; Shoulson, Ira; Dorsey, E. Ray
作者单位：National Bureau of Economic Research; Georgetown University; Johns Hopkins University
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作者：Fagnan, David E.; Fernandez, Jose Maria; Lo, Andrew W.; Stein, Roger M.
作者单位：Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
