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作者：Ho, Kate; Pakes, Ariel
作者单位：Columbia University; Harvard University
摘要：We estimate an insurer-specific preference function which rationalizes hospital referrals for privately insured births in California. The function is additively separable in: a hospital price paid by the insurer, the distance traveled, and plan-and severity-specific hospital fixed effects (capturing hospital quality). We use an inequality estimator that allows for errors in price and detailed - hospital-severity interactions and obtain markedly different results than those from a logit. The es...
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作者：Al-Najjar, Nabil; Pomatto, Luciano; Sandroni, Alvaro
作者单位：Northwestern University
摘要：Hume (1748) challenged the idea that a general claim (e.g., all swans are white) can be validated by empirical evidence, no matter how compelling. We examine this issue from the perspective of a tester who must accept or reject the forecasts of a potential expert. If experts can be skeptical about the validity of claims then they can evade rejection strategically. In contrast, if experts are required to conclude that claims backed by sufficient evidence are likely to be true, then they can be ...
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作者：Kubler, Felix; Selden, Larry; Wei, Xiao
作者单位：University of Zurich; Columbia University; University of Pennsylvania; University of Pennsylvania
摘要：We provide conditions under which contingent claim and asset demands are consistent with state independent Expected Utility maximization. The paper focuses on the case of a single commodity and demands are allowed to be functions of probabilities and not just prices and income. We extend prior analyses by deriving three distinct tests for demands to be rationalized by Expected Utility: (i) a contingent claim analogue to the certainty strong axiom of revealed preference, (ii) a characterization...
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作者：Bourgeon, Jean-Marc; Picard, Pierre
作者单位：INRAE; Institut Polytechnique de Paris; Ecole Polytechnique
摘要：Insurers have the reputation of being bad payers who nitpick whenever an opportunity arises. However, this nitpicking activity has a positive impact on their auditing strategy since auditing may prove profitable when claims are not fraudulent. We show that reducing the indemnity payments of audited claims induces a lower fraud rate at equilibrium and that some degree of nitpicking is socially optimal when insurance fraud is a concern. Its remains optimal even if it induces adverse effects on p...
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作者：Martin, Ralf; Muuls, Mirabelle; de Preux, Laure B.; Wagner, Ulrich J.
作者单位：Imperial College London; Universidad Carlos III de Madrid
摘要：When regulated firms are offered compensation to prevent them from relocating, efficiency requires that payments be distributed across firms so as to equalize marginal relocation probabilities, weighted by the damage caused by relocation. We formalize this fundamental economic logic and apply it to analyzing compensation rules proposed under the EU Emissions Trading Scheme, where emission permits are allocated free of charge to carbon-intensive and trade-exposed industries. We show that this p...
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作者：Gourio, Francois; Rudanko, Leena
作者单位：Federal Reserve System - USA; Federal Reserve Bank - Chicago; National Bureau of Economic Research; Federal Reserve System - USA; Federal Reserve Bank - Philadelphia
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作者：Kessler, Judd B.; Roth, Alvin E.
作者单位：University of Pennsylvania; Stanford University
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作者：Jessoe, Katrina; Rapson, David
作者单位：University of California System; University of California Davis; University of California System; University of California Davis
摘要：Imperfect information about product attributes inhibits efficiency in many choice settings, but can be overcome by providing simple, low-cost information. We use a randomized control trial to test the effect of high-frequency information about residential electricity usage on the price elasticity of demand. Informed households are three standard deviations more responsive to temporary price increases, an effect that is not attributable to price salience. Conservation extends beyond pricing eve...
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作者：Gopinath, Gita; Neiman, Brent
作者单位：Harvard University; University of Chicago
摘要：We empirically characterize the mechanics of trade adjustment during the Argentine crisis. Though imports collapsed by 70 percent from 2000 to 2002, the entry and exit of firms or products at the country level played a small role. The within-firm churning of imported inputs, however, played a sizeable role. We build a model of trade in intermediate inputs with heterogeneous firms, fixed import costs, and roundabout production. Import demand is non-homothetic and the implications of an import p...
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作者：Ossa, Ralph
作者单位：University of Chicago
摘要：How large are optimal tariffs? What tariffs would prevail in a worldwide trade war? How costly would a breakdown of international trade policy cooperation be? And what is the scope for future multilateral trade negotiations? I address these and other questions using a unified framework which nests traditional, new trade, and political economy motives for protection. I find that optimal tariffs average 62 percent, world trade war tariffs average 63 percent, the government welfare losses from a ...
