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作者：Fearon, James D.; Humphreys, Macartan; Weinstein, Jeremy M.
作者单位：Stanford University; Columbia University
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作者：Beny, Laura N.; Cook, Lisa D.
作者单位：University of Michigan System; University of Michigan; Michigan State University; Michigan State University
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作者：Urquiola, Miguel; Verhoogen, Eric
作者单位：Columbia University; National Bureau of Economic Research
摘要：This paper examines how schools' choices of class size and households' choices Of schools affect regression-discontinuity-based estimates of the effect of class size oil student outcomes. We build a model in which schools are subject to a class-size cap and an integer constraint on the number of classrooms, and higher-income households sort into higher-quality schools. The key prediction, borne out in data from Chile's liberalized education market, is that schools at the class-size cap adjust ...
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作者：Young, H. Peyton
作者单位：University of Oxford
摘要：New ideas, products, and practices take time to diffuse, a fact that is often attributed to some form of heterogeneity among potential adopters. This paper examines three broad classes of diffusion models-contagion, social influence, and social learning-and shows how to incorporate heterogeneity into each at a high level of generality without losing analytical tractability. Each type of model leaves a characteristic footprint on the shape of the adoption curve which provides a basis for discri...
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作者：Coval, Joshua D.; Jurek, Jakub W.; Stafford, Erik
作者单位：Harvard University; Princeton University
摘要：The central insight of asset pricing is that a security's value depends both on its distribution of payoffs across economic states and on state prices. In fixed income markets, many investors focus exclusively on estimates of expected payoffs, such as credit ratings, without considering the state of the economy in which default occurs. Such investors are likely to be attracted to securities whose payoffs resemble economic catastrophe bonds-bonds that default only under severe economic conditio...
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作者：Bernard, Andrew B.; Jensen, J. Bradford; Redding, Stephen J.; Schott, Peter K.
作者单位：Dartmouth College; Georgetown University; National Bureau of Economic Research; University of London; London School Economics & Political Science; Yale University
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作者：Colander, David; McGoldrick, KimMarie
作者单位：Middlebury College; University of Richmond
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作者：Foster, Andrew; Gutierrez, Emilio; Kumar, Naresh
作者单位：Brown University; University of Iowa
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作者：Forbes, Silke Januszewski; Lederman, Mara
作者单位：University of California System; University of California San Diego; University of Toronto
摘要：We explore patterns of vertical integration in the US airline industry. Major airlines subcontract portions of their network to regional partners, which may or may not be owned. We investigate if ownership economizes on ex post renegotiation costs. We estimate whether airlines are more likely to use owned regionals on city pairs with adverse weather (which makes adaptation decisions more frequent) and on city pairs that are more integrated into the major's network (which raises the costs of ha...
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作者：Hendel, Igal; Nevo, Aviv; Ortalo-Magne, Francois
作者单位：Northwestern University; National Bureau of Economic Research; University of Wisconsin System; University of Wisconsin Madison; University of Wisconsin System; University of Wisconsin Madison; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics
摘要：We compare house sales on a For-Sale-By-Owner (FSBO) platform to Multiple Listing Service (MLS) sales and find that FSBO precommission prices are no lower, but that FSBO is less effective in terms of time to sell and probability of a sale. We do not find direct evidence of the importance of network size as a reason for the lower effectiveness of FSBO. We do find evidence of endogenous platform differentiation: patient sellers use FSBO while patient buyers transact more often on the MLS (where ...
