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作者：Masatlioglu, Yusufcan; Nakajima, Daisuke; Ozbay, Erkut Y.
作者单位：University of Michigan System; University of Michigan; University System of Maryland; University of Maryland College Park
摘要：The standard revealed preference argument relies on an implicit assumption that a decision maker considers all feasible alternatives. The marketing and psychology literatures, however, provide well-established evidence that consumers do not consider all brands in a given market before making a purchase (Limited Attention). In this paper, we illustrate how one can deduce both the decision maker's preference and the alternatives to which she pays attention and inattention from the observed behav...
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作者：Hummels, David; Munch, Jakob R.; Skipper, Lars; Xiang, Chong
作者单位：Purdue University System; Purdue University; National Bureau of Economic Research; University of Copenhagen; Aarhus University
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作者：Ambrus, Attila; Greiner, Ben
作者单位：Duke University; University of New South Wales Sydney
摘要：This paper experimentally investigates the effects of a costly punishment option on cooperation and social welfare in long, finitely repeated public good contribution games. In a perfect monitoring environment, increasing the severity of the potential punishment monotonically increases average net payoffs. In a more realistic imperfect monitoring environment, we find a U-shaped relationship. Access to a standard punishment technology in this setting significantly decreases net payoffs, even in...
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作者：Albouy, David Y.
作者单位：University of Michigan System; University of Michigan; National Bureau of Economic Research
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作者：Bombardini, Matilde; Gallipoli, Giovanni; Pupato, German
作者单位：University of British Columbia; Canadian Institute for Advanced Research (CIFAR); Getulio Vargas Foundation
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作者：Voors, Maarten J.; Nillesen, Eleonora E. M.; Verwimp, Philip; Bulte, Erwin H.; Lensink, Robert; Van Soest, Daan P.
作者单位：Wageningen University & Research; University of Cambridge; Solvay SA; Universite Libre de Bruxelles; Universite Libre de Bruxelles; Universite Libre de Bruxelles; Tilburg University; University of Groningen; Vrije Universiteit Amsterdam; Vrije Universiteit Amsterdam; Tilburg University
摘要：We use a series of field experiments in rural Burundi to examine the impact of exposure to conflict on social, risk, and time preferences. We find that conflict affects behavior: individuals exposed to violence display more altruistic behavior towards their neighbors, are more risk-seeking, and have higher discount rates. Large adverse shocks can thus alter savings and investments decisions, and potentially have long-run consequences-even if the shocks themselves are temporary. (JEL C93, D12, ...
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作者：Jermann, Urban; Quadrini, Vincenzo
作者单位：University of Pennsylvania; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University of Southern California
摘要：We document the cyclical properties of US firms' financial flows and show that equity payout is procyclical and debt payout is counter-cyclical. We then develop a model with debt and equity financing to explore how the dynamics of real and financial variables are affected by financial shocks. We find that financial shocks contributed significantly to the observed dynamics of real and financial variables. The recent events in the financial sector show up as a tightening of firms' financing cond...
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作者：Acharya, Viral; Engle, Robert; Richardson, Matthew
作者单位：New York University
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作者：Almas, Ingvild
作者单位：Norwegian School of Economics (NHH)
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作者：Acemoglu, Daron; Aghion, Philippe; Bursztyn, Leonardo; Hemous, David
作者单位：Massachusetts Institute of Technology (MIT); Canadian Institute for Advanced Research (CIFAR); Harvard University; University of California System; University of California Los Angeles
摘要：This paper introduces endogenous and directed technical change in a growth model with environmental constraints. The final good is produced from dirty and clean inputs. We show that: (i) when inputs are sufficiently substitutable, sustainable growth can be achieved with temporary taxes/subsidies that redirect innovation toward clean inputs; (ii) optimal policy involves both carbon taxes and research subsidies, avoiding excessive use of carbon taxes; (iii) delay in intervention is costly, as it...
