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作者：Bergemann, Dirk; Bonatti, Alessandro
作者单位：Yale University; Massachusetts Institute of Technology (MIT)
摘要：A monopolist platform uses data to match heterogeneous consumers with multiproduct sellers. The consumers can purchase the products on the platform or search off the platform. The platform sells targeted ads to sellers that recommend their products to consumers and reveals information to consumers about their match values. The revenue-optimal mechanism is a managed advertising campaign that matches products and preferences efficiently. In equilibrium,sellers offer higher qualities at lower uni...
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作者：Kaya, Ayca; Roy, Santanu
作者单位：University of Miami; Southern Methodist University
摘要：We analyze the effect of transparency of past trading volumes in markets where an informed long-lived seller can repeatedly trade with short-lived uninformed buyers. Transparency allows buyers to observe previously sold quantities. In markets with intraperiod monopsony ( single buyer each period), ), transparency reduces welfare if the ex ante expected quality is low but improves welfare if the expected quality is high. The effect is reversed in markets with intraperiod competition ( multiple ...
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作者：Karahan, Fatih; Pugsley, Benjamin; Sahin, Aysegul
作者单位：Amazon.com; University of Notre Dame; University of Texas System; University of Texas Austin; National Bureau of Economic Research
摘要：We propose a simple explanation for the long-run decline in the US start-up rate. It originates from a slowdown in labor supply growth since the late 1970s , largely predetermined by demographics. This channel can explain roughly half of the decline and why incumbent firm survival and average growth over the life cycle have changed little. We show these results in a standard model of firm dynamics and test the mechanism using cross-state variation in labor supply growth. Finally , we show that...
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作者：Choi, Jiwon; Kuziemko, Ilyana; Washington, Ebonya; Wright, Gavin
作者单位：Brandeis University; Princeton University; National Bureau of Economic Research; Columbia University; Stanford University
摘要：Why have white , less -educated voters left the Democratic Party? We highlight the role of the 1994 North American Free Trade Agreement ( NAFTA ) . In event -study analysis , we demonstrate that counties whose 1990 employment depended on industries vulnerable to NAFTA suffered large and persistent employment losses after its implementation. Voters in these counties ( and protectionist voters regardless of geography ) turned away from the party of President Clinton , who promoted the agreement....
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作者：Baum-Snow, Nathaniel; Gendron-Carrier, Nicolas; Pavan, Ronni
作者单位：University of Toronto; McGill University; University of Rochester
摘要：Using Canadian administrative data, this paper presents evidence of revenue and productivity spillovers across firms at fine spatial scales. Accounting for the endogenous sorting of firms across space, we estimate an average elasticity of firm revenue and productivity with respect to the average quality of other firms within 75 meters of 0.024. We find scant evidence that the average firm benefits from being surrounded by a greater amount of economic activity at this spatial scale. Sorting of ...
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作者：Bari, Faisal; Malik, Kashif; Meki, Muhammad; Quinn, Simon
作者单位：Lahore University of Management Sciences; University of Oxford; University of Oxford; Imperial College London
摘要：We run a field experiment offering graduated microcredit clients the opportunity to finance a business asset worth four times their usual borrowing limit. We implement this using a hire-purchase contract; our control group is offered a zero interest loan at the usual borrowing limit. We find large, significant, and persistent effects: treated microenterprise owners run larger businesses with higher profits; consequently, household consumption increases, particularly on food and children's educ...
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作者：McGranaghan, Christina; Nielsen, Kirby; O'Donoghue, Ted; Somerville, Jason; Sprenger, Charles d.
作者单位：University of Delaware; California Institute of Technology; Cornell University; Federal Reserve System - USA; Federal Reserve Bank - New York
摘要：Without strong assumptions about how noise manifests in choices, we can infer little from existing empirical observations of the common ratio effect (CRE) about whether there exists an underlying common ratio preference (CRP). We propose to solve this inferential challenge using paired valuations, which yield valid inference under common assumptions. Using this approach in an online experiment with 900 participants, we find no evidence of a systematic CRP. To reconcile our findings with existi...
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作者：De Ridder, Maarten
作者单位：University of London; London School Economics & Political Science
摘要：This paper offers a unified explanation for the slowdown of productivity growth, the decline in business dynamism, and the rise of market power. Using a quantitative framework, I show that the rise of intangible inputs, such as software, can explain these trends. Intangibles reduce marginal costs and raise fixed costs, which gives firms with high -intangible adoption a competitive advantage, in turn deterring other firms from entering. I structurally estimate the model on French and US micro d...
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作者：Haltiwanger, John; Hyatt, Henry R.; Spletzer, James R.
作者单位：University System of Maryland; University of Maryland College Park
摘要：Most of the rise in overall earnings inequality from 1996 to 2018 is accounted for by rising between-industry dispersion. The contribution of industries is right-skewed with the top 10 percent of four-digit NAICS industries dominating. The top 10 percent are clustered in high-paying high-tech and low-paying retail sectors. In the top industries, , high-wage workers are increasingly sorted to high-wage industries with rising industry premia. In the bottom industries, , low-wage workers are incr...
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作者：Angelucci, Charles; Prat, Andrea
作者单位：Massachusetts Institute of Technology (MIT); Columbia University
摘要：To investigate general patterns in news information in the United States, we combine a protocol for identifying major political news stories, 11 monthly surveys with 15,000 participants, and a model of news discernment. When confronted with a true and a fake news story, 47 percent of subjects confidently choose the true story, 3 percent confidently choose the fake story, and the remaining half are uncertain. Socioeconomic differences are associated with large variations in the probability of s...
