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作者：Levy, Gilat; Razin, Ronny
作者单位：University of London; London School Economics & Political Science
摘要：In this paper we analyze elections when voters underestimate the correlation between their information sources (correlation neglect). We find that this cognitive bias can improve political outcomes. We show that the extreme beliefs which result from correlation neglect induce some voters to base their vote on information rather than on political preferences. We characterize conditions on the distribution of preferences under which this induces higher vote shares for the optimal policies and be...
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作者：Meghir, Costas; Narita, Renata; Robin, Jean-Marc
作者单位：Yale University; National Bureau of Economic Research; Universidade de Sao Paulo; Institut d'Etudes Politiques Paris (Sciences Po); University of London; University College London
摘要：We develop an equilibrium wage-posting model with heterogeneous firms that decide to locate in the formal or the informal sector and workers who search randomly on and off the job. We estimate the model on Brazilian labor force survey data. In equilibrium, firms of equal productivity locate in different sectors, a fact observed in the data. Wages are characterized by compensating differentials. We show that tightening enforcement does not increase unemployment and increases wages, total output...
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作者：Jacobsen, Mark R.; van Benthem, Arthur A.
作者单位：University of California System; University of California San Diego; National Bureau of Economic Research; University of Pennsylvania
摘要：We estimate the sensitivity of scrap decisions to changes in used car values and show how this scrap elasticity produces emissions leakage under fuel efficiency standards, a process known as the Gruenspecht effect. We first estimate the effect of gasoline prices on used vehicle values and scrappage of vehicles with different fuel economies. We then estimate the scrap elasticity itself, which we find to be -0.7. When applied in a model of fuel economy standards, 13-16 percent of the expected fu...
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作者：Mahoney, Neale
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This paper examines the implicit health insurance that households receive from the ability to declare bankruptcy. Exploiting multiple sources of variation in asset exemption law, I show that uninsured households with a greater financial cost of bankruptcy make higher out-of-pocket medical payments, conditional on the amount of care received. In turn, I find that households with greater wealth at risk are more likely to hold health insurance. The implicit insurance from bankruptcy distorts the ...
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作者：Ketcham, Jonathan D.; Lucarelli, Claudio; Powers, Christopher A.
作者单位：Arizona State University; Arizona State University-Tempe; Universidad de los Andes - Chile; University of Pennsylvania; CMS Alliance to Modernize Healthcare; Centers for Medicare & Medicaid Services
摘要：We study whether people became less likely to switch Medicare prescription drug plans (PDPs) due to more options and more time in Part D. Panel data for a random 20 percent sample of enrollees from 2006-2010 show that 50 percent were not in their original PDPs by 2010. Individuals switched PDPs in response to higher costs of their status quo plans, saving them money. Contrary to choice overload, larger choice sets increased switching unless the additional plans were relatively expensive. Neith...
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作者：Edmans, Alex; Goldstein, Itay; Jiang, Wei
作者单位：University of London; London Business School; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); University of London; London Business School; University of Pennsylvania; Columbia University
摘要：We analyze strategic speculators' incentives to trade on information in a model where firm value is endogenous to trading, due to feedback from the financial market to corporate decisions. Trading reveals private information to managers and improves their real decisions, enhancing fundamental value. This feedback effect has an asymmetric effect on trading behavior: it increases (reduces) the profitability of buying (selling) on good (bad) news. This gives rise to an endogenous limit to arbitra...
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作者：Muehlenbachs, Lucija; Spiller, Elisheba; Timmins, Christopher
作者单位：University of Calgary; Resources for the Future; Environmental Defense Fund; Duke University
摘要：Using data from Pennsylvania and an array of empirical techniques to control for confounding factors, we recover hedonic estimates of property value impacts from nearby shale gas development that vary with water source, well productivity, and visibility. Results indicate large negative impacts on nearby groundwater-dependent homes, while piped-water-dependent homes exhibit smaller positive impacts, suggesting benefits from lease payments. Results have implications for the debate over regulatio...
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作者：Galiani, Sebastian; Murphy, Alvin; Pantano, Juan
作者单位：University System of Maryland; University of Maryland College Park; Arizona State University; Arizona State University-Tempe; Washington University (WUSTL)
摘要：We use data from a housing-assistance experiment to estimate a model of neighborhood choice. The experimental variation effectively randomizes the rents which households face and helps identify a key structural parameter. Access to two randomly selected treatment groups and a control group allows for out-of-sample validation of the model. We simulate the effects of changing the subsidy-use constraints implemented in the actual experiment. We find that restricting subsidies to even lower povert...
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作者：Bitler, Marianne; Hoynes, Hilary
作者单位：University of California System; University of California Irvine; University of California System; University of California Berkeley
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作者：Maestas, Nicole; Mullen, Kathleen J.; Strand, Alexander
作者单位：RAND Corporation
