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作者：Tsivanidis, Nick
作者单位：University of California System; University of California Berkeley
摘要：This paper estimates the effects of improving public transit infrastructure on city structure and welfare. It develops a quantitative urban model with multiple worker groups and transit modes, and derives a special case yielding sufficient statistics for aggregate welfare in a broad class of models. The paper estimates reduced-form elasticities to implement the approach using data spanning construction of the world's largest Bus Rapid Transit system in Bogot & aacute;, Colombia. This class of ...
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作者：Bhattacharya, Vivek; Illanes, Gaston; Stillerman, David
作者单位：Northwestern University; National Bureau of Economic Research; American University
摘要：We document the effects of a comprehensive set of mergers of consumer packaged goods manufacturers on prices, quantities, and product assortment. Across specifications, we find a small average price effect of mergers (-0.5-1.1 percent) but substantial heterogeneity, with a standard deviation between 3.9 and 7.6 percentage points. Through a model of enforcement, we find that agencies act as if they challenge mergers they expect would increase prices more than 4.8 to 6.3 percent. Increases in st...
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作者：Cespa, Giovanni; Vives, Xavier
作者单位：Centre for Economic Policy Research - UK; University of Navarra; IESE Business School
摘要：Lack of market transparency can impair the liquidity provision of nonstandard liquidity suppliers and make liquidity demand increasing in illiquidity. This can yield strategic complementarities and induce multiple equilibria. Then an initial dearth of liquidity may degenerate into a liquidity rout (as in a flash crash), and traders faced with the largest cost of trading are those trading more intensely at equilibrium. An increase in order flow transparency and/or in the mass of dealers who are...
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作者：Algan, Yann; Dalvit, Nicolo; Do, Quoc-Anh; Le Chapelain, Alexis; Zenou, Yves
作者单位：Hautes Etudes Commerciales (HEC) Paris; Centre for Economic Policy Research - UK; The World Bank; Monash University; Leibniz Association; Ifo Institut; University of Southampton
摘要：We examine how social interactions and friendships shape students' political opinions in a natural experiment at Sciences Po, a leading French university specializing in social and political sciences. The quasi-random assignment of students into short-term integration groups before their academic curriculum reduces political opinion gaps and fosters friendship formation. Using same-group membership as an instrumental variable for friendship, we find that friendship reduces opinion differences ...
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作者：Okeke, Edward N.
摘要：Why do health facilities in developing countries do so poorly? This paper examines the role of financial constraints. I describe an experiment in which we surprised health workers in randomly selected public health clinics in Nigeria with a (sic)600,000 grant paid out in installments over one year. Its administration was left entirely to health workers. The award led to large productivity gains. Using expenditure data combined with novel textual data, I provide an explanation for these effects...
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作者：Haegele, Ingrid
作者单位：University of Munich
摘要：Most organizations rely on managers to identify talented workers. However, managers who are evaluated on team performance have an incentive to hoard workers. This study provides the first empirical evidence of talent hoarding using personnel records and survey evidence from a large firm. Talent hoarding is self-reported by three-fourths of managers, is detectable in manager ratings of worker talent, and occurs more frequently under stronger hoarding incentives, proxied by performance-related p...
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作者：Chen, Jaden Yang
作者单位：University of North Carolina; University of North Carolina Chapel Hill
摘要：This paper investigates a sequential social learning problem in which individuals face ambiguity about others' signal structures and have max-min expected utility preferences, thereby exhibiting ambiguity aversion. Unlike previous findings, which suggest that learning outcomes depend on the specifics of the learning environment, this study establishes information cascades as a robust outcome under ambiguity. With sufficient ambiguity, cascades arise almost surely, regardless of the statistical...
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作者：Burlig, Fiona; Jina, Amir; Sudarshan, Anant
作者单位：University of Chicago; National Bureau of Economic Research; University of Warwick
摘要：Over 2 billion people lack clean drinking water. Existing solutions face high costs (piped water) or low demand (point-of-use chlorine). Using a 60,000 household cluster-randomized experiment, we test an alternative approach: decentralized treatment and home delivery of clean water to the rural poor. At low prices, take-up exceeds 90 percent, sustained throughout the experiment. High prices reduce take-up but are privately profitable. We experimentally recover revealed-preference measures of v...
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作者：Bachmann, Rudiger; Carstensen, Kai; Lautenbacher, Stefan; Menkhoff, Manuel; Schneider, Martin
作者单位：University of Michigan System; University of Michigan; Centre for Economic Policy Research - UK; Leibniz Association; Ifo Institut; Leibniz Association; Ifo Institut; Leibniz Association; DIW Berlin - Deutsches Institut fur Wirtschaftsforschung; University of Kiel; University of Munich; University of Copenhagen; Stanford University; National Bureau of Economic Research
摘要：This paper studies how managers plan under uncertainty. In a new panel survey of German manufacturing firms, we observe both forecasts of sales growth and a quantitative measure of subjective uncertainty. We show that subjective uncertainty reflects change experienced by firms: It is high when growth is either unusually low or unusually high. Subjective uncertainty is more than conditional volatility; while more volatile firms are typically more uncertain, experienced change alone increases un...
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作者：Serra-Garcia, Marta
作者单位：University of California System; University of California San Diego; Leibniz Association; Ifo Institut
摘要：How does information transmission change when it requires attracting the attention of receivers? This paper combines an experiment that varies freelance professionals' incentives to attract attention about scientific findings, with several online experiments that exogenously expose receivers to the content created. Attention incentives lead to significantly less information being transmitted, but not more factually inaccurate content. These incentives increase information demand and the knowle...
