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最新文章

• Overconfidence and excess entry: An experimental approach AI翻译
  作者：Camerer, C; Lovallo, D
  作者单位：California Institute of Technology; University of Pennsylvania
• Rules of thumb versus dynamic programming AI翻译
  作者：Lettau, M; Uhlig, H
  作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Tilburg University; Princeton University
  摘要：This paper studies decision-making with rules of thumb in the context of dynamic decision problems and compares it to dynamic programming. A rule is a fixed mapping from a subset of states into actions. Rules are compared by averaging over past experiences. This can lead to favoring rules which are only applicable in good states. Correcting this good state bias requires solving the dynamic program. We provide a general framework and characterize the asymptotic properties, We apply it to provid...
• The winner's curse and public information in common value auctions: Reply AI翻译
  作者：Campbell, CM; Kagel, JH; Levin, D
  作者单位：University System of Ohio; Ohio State University; Pennsylvania Commonwealth System of Higher Education (PCSHE); University of Pittsburgh
• Technological revolutions AI翻译
  作者：Caselli, F
  作者单位：University of Chicago
  摘要：In skill-biased (de-skilling) technological revolutions learning investments required by new machines are greater (smaller) than those required by preexisting machines. Skill-biased (de-skilling) revolutions trigger reallocations of capital from slow- (fast-) to fast- (slow-) learning workers, thereby reducing the relative and absolute wages of the former. The model of skill-biased (de-skilling) revolutions provides insight into developments since the mid-1970's (in the 1910's). The empirical ...
• Endogenous technological change and wage inequality AI翻译
  作者：Lloyd-Ellis, H
  作者单位：University of Toronto
  摘要：Although microeconomic studies find a positive relationship between R&D and skill premia, much of the recent rise in U.S. wage inequality was accompanied by slowing labor-productivity growth and relatively slow introduction of new technologies. These conflicting observations are consistent with the effects of a skewed distribution of absorptive capacities-the rate at which technology-specific skills can be acquired-in a model of endogenous technological change. The framework is used to assess ...
• Catching up with the economy AI翻译
  作者：Fogel, RW
  作者单位：University of Chicago; University of Chicago; National Bureau of Economic Research