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作者：Ellingsen, Tore; Mohlin, Erik
作者单位：Stockholm School of Economics; Lund University
摘要：We develop and test a model of social duties. The model distinguishes unconditional duties to take or avoid certain actions from conditional duties that depend on the actions' payoffs. It also distinguishes strict duties (must do) from liberal duties (ought to do). The disutility associated with duty violation depends on the duty's strictness and is proportional to the externality the violation causes. The model rationalizes behavioral patterns that are incompatible with consequentialist prefe...
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作者：Liang, Annie; Lu, Jay; Mu, Xiaosheng; Okumura, Kyohei
作者单位：Northwestern University; University of California System; University of California Los Angeles; Princeton University
摘要：Algorithm designers increasingly care not only about accuracy but also about fairness across predefined groups. We study the trade-off between these objectives and characterize it by a fairness-accuracy frontier: the set of outcomes that cannot be simultaneously improved in both dimensions. The shape of this frontier is governed by a simple property of the inputs, which we call group skew. In particular, reducing accuracy for both groups to increase fairness is justified if and only if inputs ...
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作者：Hai, Rong; Heckman, James
作者单位：University of Miami; University of Chicago
摘要：We develop and estimate a life-cycle model of addiction in which forward-looking youth choose to smoke, attend school, work part-time, and consume while facing borrowing constraints. The model features multiple channels for studying the reciprocal causal effects of addiction and education. Variations in endowments and cigarette prices are sources of identification. We show that education causally reduces smoking. A counterfactual experiment finds that in the absence of cigarette smoking, colle...
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作者：Choi, Jason; Kirpalani, Rishabh; Perez, Diego J.
作者单位：University of Toronto; University of Wisconsin System; University of Wisconsin Madison; New York University; National Bureau of Economic Research
摘要：The US government is the dominant supplier of global safe assets and faces a downward-sloping demand for its debt. We develop a model of the global economy in which US public debt generates special value for holders, endowing the US government with market power. We use variations in demand elasticities during high- and low-volatility regimes to distinguish this model from a price-taking benchmark and find that the data reject price-taking behavior in favor of the US government exploiting marke...
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作者：He, Kevin; Sandomirskiy, Fedor; Tamuz, Omer
作者单位：University of Pennsylvania; Princeton University; California Institute of Technology
摘要：Private signals model noisy information about an unknown state. Although these signals are called private, they may still carry information about each other. Our paper introduces the concept of private private signals, which contain information about the state but not about other signals. To achieve privacy, signal quality may need to be sacrificed. We study the informativeness of private private signals and characterize those that are optimal in the sense that they cannot be made more informa...
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作者：Vreugdenhil, Nicholas
作者单位：Arizona State University; Arizona State University-Tempe
摘要：How efficiently do markets reallocate capital in booms and busts? Using a novel dataset of offshore drilling contracts, I examine the role of matching in shaping industry reallocation. Oil companies search and match with capital (rigs) in a decentralized market. I find that oil and gas booms increase the option value of searching, which leads agents to avoid bad matches, reducing mismatch through a sorting effect. I provide an identification strategy to disentangle unobserved demand changes fr...
