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作者：Kvaloy, Ola; Olsen, Trond E.
作者单位：Universitetet i Stavanger; Norwegian School of Economics (NHH)
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作者：Lavy, Victor
作者单位：Hebrew University of Jerusalem; National Bureau of Economic Research; University of London
摘要：This paper presents evidence about the effect of individual monetary incentives on English and math teachers in Israel. Teachers were rewarded with cash bonuses for improving their students' performance in high-school matriculation exams. The main identification strategy is based on measurement error in the assignment to treatment variable that produced a randomized treatment sample. The incentives led to significant improvements in test taking rates, conditional pass rates, and mean test scor...
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作者：Jeanne, Olivier
作者单位：Johns Hopkins University
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作者：Sutter, Matthias
作者单位：University of Innsbruck; University of Gothenburg
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作者：Muller, Nicholas Z.; Mendelsohn, Robert
作者单位：Middlebury College; Middlebury College; Yale University
摘要：This paper argues for efficient environmental regulations that equate the marginal damage of pollution to marginal abatement costs across space. The paper estimates the source-specific marginal damages of air pollution and calculates the welfare gain from making the current sulfur dioxide allowance trading program for power plants more efficient. The savings from using trading ratios based on marginal damages are between $310 and $940 million per year. The potential savings from setting aggreg...
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作者：Gayle, George-Levi; Miller, Robert A.
作者单位：Carnegie Mellon University
摘要：We estimate a principal-agent model of moral hazard with longitudinal data on firms and managerial compensation over two disjoint periods spanning 60 years to investigate increased value and variability in managerial compensation. We find exogenous growth in firm size largely explains these secular trends in compensation. In our framework, exogenous from size works through two channels. First, conflicts of interest between shareholders and managers are magnified in large firms, so optimal comp...
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作者：Lorenzoni, Guido
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：This paper presents a model of business cycles driven by shocks to consumer expectations regarding aggregate productivity. Agents are hit by heterogeneous productivity shocks, they observe their own productivity and a noisy public signal regarding aggregate productivity. The public signal gives rise to noise shocks, which have the features of aggregate demand shocks: they increase output, employment, and inflation in the short run and have no effects in the long run. Numerical examples suggest...
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作者：Daniel, Terry E.; Gisches, Eyran J.; Rapoport, Amnon
作者单位：University of Alberta; University of Arizona
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作者：Choi, James J.; Laibson, David; Madrian, Brigitte C.
作者单位：Yale University; Harvard University; Harvard University
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作者：Ho, Teck-Hua; Su, Xuanming
作者单位：University of California System; University of California Berkeley
摘要：People exhibit peer-induced fairness concerns when they look to their peers as a reference to evaluate their endowments. We analyze two independent ultimatum games played sequentially by a leader and two followers. With peer-induced fairness, the second follower is averse to receiving less than the first follower. Using laboratory experimental data, we estimate that peer-induced fairness between followers is two times stronger than distributional fairness between leader and follower. Allowing ...
