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作者：Daughety, Andrew F.; Reinganum, Jennifer F.
作者单位：Vanderbilt University
摘要：A significant policy concern about the emerging plaintiff legal funding industry is that loans will undermine settlement. When the plaintiff has private information about damages, we find that the optimal (plaintiff-funder) loan induces all plaintiff types to make the same demand, resulting in full settlement; implementation may entail a very high repayment amount. Plaintiffs' attorneys with contingent-fee compensation benefit from such financing, as it eliminates trial costs. When the defenda...
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作者：Amiti, Mary; Itskhoki, Oleg; Konings, Jozef
作者单位：Federal Reserve System - USA; Federal Reserve Bank - New York; Princeton University; KU Leuven; University of Ljubljana; University of Ljubljana
摘要：Large exporters are simultaneously large importers. We show that this pattern is key to understanding low aggregate exchange rate pass-through as well as the variation in pass-through across exporters. We develop a theoretical framework with variable markups and imported inputs, which predicts that firms with high import shares and high market shares have low exchange rate pass-through. We test and quantify the theoretical mechanism using Belgian firm-product-level data on imports and exports....
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作者：Aguiar, Mark; Amador, Manuel; Farhi, Emmanuel; Gopinath, Gita
作者单位：Princeton University; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; Harvard University
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作者：Baker, Scott R.; Bloom, Nicholas; Canes-Wrone, Brandice; Davis, Steven J.; Rodden, Jonathan
作者单位：Stanford University; Princeton University; University of Chicago
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作者：Goldin, Claudia
作者单位：Harvard University
摘要：The converging roles of men and women are among the grandest advances in society and the economy in the last century. These aspects of the grand gender convergence are figurative chapters in a history of gender roles. But what must the last chapter contain for there to be equality in the labor market? The answer may come as a surprise. The solution does not (necessarily) have to involve government intervention and it need not make men more responsible in the home (although that wouldn't hurt)....
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作者：Allen, Jason; Clark, Robert; Houde, Jean-Francois
作者单位：Bank of Canada; Universite de Montreal; HEC Montreal; Universite de Montreal; University of Pennsylvania
摘要：We examine the relationship between concentration and price dispersion using variation induced by a merger in the Canadian mortgage market. Since interest rates are determined through a search and negotiation process, consolidation weakens consumers' bargaining positions. We use reduced-form techniques to estimate the mergers' distributional impact, and show that competition benefits only consumers at the bottom and middle of the transaction price distribution, and that mergers reduce the disp...
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作者：Guttman, Ilan; Kremer, Ilan; Skrzypacz, Andrzej
作者单位：New York University; Hebrew University of Jerusalem; Hebrew University of Jerusalem; University of Warwick; Stanford University
摘要：We examine a dynamic model of voluntary disclosure of multiple pieces of private information. In our model, a manager of a firm who may learn multiple signals over time interacts with a competitive capital market and maximizes payoffs that increase in both period prices. We show (perhaps surprisingly) that in equilibrium later disclosures are interpreted more favorably even though the time the manager obtains the signals is independent of the value of the firm. We also provide sufficient condi...
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作者：Ashraf, Nava; Field, Erica; Lee, Jean
作者单位：Harvard University; Duke University; New York University
摘要：We posit that household decision-making over fertility is characterized by moral hazard since most contraception can only be perfectly observed by the woman. Using an experiment in Zambia that varied whether women were given access to contraceptives alone or with their husbands, we find that women given access with their husbands were 19 percent less likely to seek family planning services, 25 percent less likely to use concealable contraception, and 27 percent more likely to give birth. Howev...
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作者：Choi, Syngjoo; Kariv, Shachar; Mueller, Wieland; Silverman, Dan
作者单位：University of London; University College London; University of California System; University of California Berkeley; University of Vienna; University of Vienna; Tilburg University; Tilburg University; Arizona State University; Arizona State University-Tempe; National Bureau of Economic Research
摘要：Revealed preference theory offers a criterion for decision-making quality: if decisions are high quality then there exists a utility function the choices maximize. We conduct a large-scale experiment to test for consistency with utility maximization. Consistency scores vary markedly within and across socioeconomic groups. In particular, consistency is strongly related to wealth: A standard deviation increase in consistency is associated with 15-19 percent more household wealth. This associatio...
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作者：Heller, Yuval
作者单位：University of Oxford
摘要：Demichelis and Weibull (2008) show that adding lexicographic lying costs to coordination games with cheap talk yields a sharp prediction: only the efficient outcome is evolutionarily stable. I show that this result is caused by the discontinuity of preferences rather than by small lying costs per se. Finally, I discuss why discontinuity may not be an appealing assumption in evolutionary models.
