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作者：Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; Teitelbaum, Joshua C.
作者单位：Cornell University; Georgetown University
摘要：We use data on insurance deductible choices to estimate a structural model of risky choice that incorporates standard risk aversion (diminishing marginal utility for wealth) and probability distortions. We find that probability distortions- characterized by substantial overweighting of small probabilities and only mild insensitivity to probability changes-play an important role in explaining the aversion to risk manifested in deductible choices. This finding is robust to allowing for observed ...
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作者：Desmet, Klaus; Rossi-Hansberg, Esteban
作者单位：Universidad Carlos III de Madrid; Princeton University
摘要：We use a simple theory of a system of cities to decompose the determinants of the city size distribution into three main components: efficiency, amenities, and frictions. Higher efficiency and better amenities lead to larger cities but also to greater frictions through congestion and other negative effects of agglomeration. Using data on MSAs in the United States, we estimate these city characteristics. Eliminating variation in any of them leads to large population reallocations, but modest we...
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作者：Fehr, Ernst; Herz, Holger; Wilkening, Tom
作者单位：University of Zurich; University of Melbourne
摘要：Authority and power permeate political, social, and economic life, but empirical knowledge about the motivational origins and consequences of authority is limited. We study the motivation and incentive effects of authority experimentally in an authority-delegation game. Individuals often retain authority even when its delegation is in their material interest-suggesting that authority has nonpecuniary consequences for utility. Authority also leads to over-provision of effort by the controlling ...
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作者：Barseghyan, Levon; Molinari, Francesca; O'Donoghue, Ted; Teitelbaum, Joshua C.
作者单位：Cornell University; Georgetown University
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作者：Duflo, Esther; Greenstone, Michael; Pande, Rohini; Ryan, Nicholas
作者单位：Massachusetts Institute of Technology (MIT); Harvard University
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作者：Mbiti, Isaac; Weil, David N.
作者单位：Southern Methodist University; Brown University
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作者：Mobarak, Ahmed Mushfiq; Rosenzweig, Mark R.
作者单位：Yale University
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作者：Dunbar, Geoffrey R.; Lewbel, Arthur; Pendakur, Krishna
作者单位：Simon Fraser University; Boston College
摘要：The share of household resources devoted to children is hard to identify because consumption is measured at the household level and goods can be shared. Using semiparametric restrictions on individual preferences within a collective model, we identify how total household resources are divided up among household members by observing how each family member's expenditures on a single private good like clothing vary with income and family size. Using data from Malawi we show how resources devoted ...
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作者：Anderson, Axel; Smith, Lones
作者单位：Georgetown University; University of Wisconsin System; University of Wisconsin Madison
摘要：We characterize the unique equilibrium of a competitive continuous time game between a resource-constrained informed player and a sequence of rivals who partially observe his action intensity. Our game adds noisy monitoring and impatient players to Aumann and Maschler (1966), and also subsumes insider trading models. The intensity bound induces a novel strategic bias and serial mean reversion by uninformed players. We compute the duration of the informed player's informational edge. The uninfo...
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作者：Blanchard, Olivier J.; L'Huillier, Jean-Paul; Lorenzoni, Guido
作者单位：International Monetary Fund; Northwestern University
