2006

最新文章

• Putting risk in its proper place AI翻译
  作者：Eeckhoudt, L; Schlesinger, H
  作者单位：University of Alabama System; University of Alabama Tuscaloosa; University of Konstanz
  摘要：This paper examines preferences toward particular classes of lottery pairs. We show how such concepts as prudence and temperance can be fully characterized by a preference relation over these lotteries. If preferences are defined in an expected-utility framework with differentiable utility, the direction of preference for a particular class of lottery pairs is equivalent to signing the n(th) derivative of the utility function. What makes our characterization appealing is its simplicity, which ...
• Estimating average and local average treatment effects of education when compulsory schooling laws really matter AI翻译
  作者：Oreopoulos, P
  作者单位：University of Toronto; National Bureau of Economic Research
  摘要：The change to the minimum school-leaving age in the United Kingdom from 14 to 15 had a powerful and immediate effect that redirected almost half the population of 14-year-olds in the mid-twentieth century to stay in school for one more year. The magnitude of this impact provides a rare opportunity to (a) estimate local average treatment effects (LATE) of high school that come close to population average treatment effects (ATE); and (b) estimate returns to education using a regression discontin...
• Democracy and development: The devil in the details AI翻译
  作者：Persson, Torsten; Tabellini, Guido
  作者单位：Stockholm University; Bocconi University
• The government's valuation of military life-saving in war: A cost minimization approach AI翻译
  作者：Rohlfs, Chris
  作者单位：University of Chicago
• Inequality, lobbying, and resource allocation AI翻译
  作者：Esteban, J; Ray, D
  作者单位：Consejo Superior de Investigaciones Cientificas (CSIC); CSIC - Institut d'Analisi Economica (IAE); New York University
  摘要：This paper describes how wealth inequality may distort public resource allocation. A government seeks to allocate limited resources to productive sectors, but sectoral productivity is privately known by agents with vested interests in those sectors. They lobby the government for preferential treatment. The government-even if it honestly seeks to maximize economic efficiency-may be confounded by the possibility that both high wealth and true economic desirability create loud lobbies. Broadly sp...
• Superstition and rational learning AI翻译
  作者：Fudenberg, Drew; Levine, David K.
  作者单位：Harvard University; University of California System; University of California Los Angeles
  摘要：We argue that some, but not all, superstitions can persist when learning is rational and players are patient, and illustrate our argument with an example inspired by the Code of Hammurabi. The code specified an appeal by surviving in the river as a way of deciding whether an accusation was true. According to our theory, a mechanism that uses superstitions two or more steps off the equilibrium path, such as appeal by surviving in the river, is more likely to persist than a superstition where t...
• When do more patents reduce R&D? AI翻译
  作者：Hunt, Robert M.
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
• The return to capital in Ghana AI翻译
  作者：Udry, Christopher; Anagol, Santosh
  作者单位：Yale University
• Good principals or good peers? Parental valuation of school characteristics, tiebout equilibrium, and the incentive effects of competition among jurisdictions AI翻译
  作者：Rothstein, Jesse M.
  作者单位：Princeton University; Princeton University
• War and institutions: New evidence from Sierra Leone AI翻译
  作者：Bellows, John; Miguel, Edward
  作者单位：University of California System; University of California Berkeley