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作者：Parker, Jonathan A.; Vissing-Jorgensen, Annette
作者单位：Northwestern University
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作者：Chen, Yan; Li, Sherry Xin
作者单位：University of Michigan System; University of Michigan; University of Texas System; University of Texas Dallas
摘要：We present a laboratory, experiment that measures the effects of induced group identity, on social preferences. We find that when participants are matched with an ingroup member, they show a 47 percent increase in charity concerns and a 93 percent decrease in envy. Likewise, participants are 19 percent more likely to reward an ingroup match for good behavior, but 13 percent less likely to punish an ingroup match for misbehavior. Furthermore, participants are significantly more likely to choose...
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作者：Heap, Shaun P. Hargreaves; Zizzo, Daniel John
作者单位：University of East Anglia
摘要：We present the results of an experiment that attempts to measure the social value of groups. In the experiment, group membership is induced artificially: subjects interact with insiders and outsiders in trust games and periodically enter markets where they can trade group membership. We find that trust falls with groups because of negative discrimination against outsiders. Against this, however, there is evidence that group membership provides a psychological benefit, albeit one that may induc...
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作者：Cai, Hongbin; Chen, Yuyu; Fang, Hanming
作者单位：Peking University; Duke University; National Bureau of Economic Research
摘要：We report results from a randomized natural field experiment conducted in a restaurant dining setting to distinguish the observational learning effect from the saliency effect. We find that, when customers are given ranking information of the five most popular dishes, the demand for those dishes increases by 13 to 20 percent. We do not find a significant saliency effect. We also find modest evidence that the observational learning effects are stronger among infrequent customers, and that dinin...
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作者：Krugman, Paul
作者单位：Princeton University
摘要：Thirty years have passed since a small group of theorists began applying concepts and tools from industrial organization to the analysis of international trade. The new models of trade that emerged from that work didn't supplant traditional trade theory so much as supplement it, creating an integrated view that made sense of aspects of world trade that had previously posed major puzzles. The new trade theory-an unfortunate phrase, now quite often referred to as the old new trade theory-also he...
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作者：Mackowiak, Bartosz; Wiederholt, Mirko
作者单位：European Central Bank; Northwestern University
摘要：This paper presents a model in which price setting firms decide what to pay attention to, subject to a constraint on information flow. When idiosyncratic conditions are more variable or more important than aggregate conditions, 'firms pay more attention to idiosyncratic conditions than to aggregate conditions. When we calibrate the model to match the large average absolute size of price changes observed in micro data, prices react fast and by large amounts to idiosyncratic shocks, but only slo...
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作者：Case, Anne; Paxson, Christina
作者单位：Princeton University
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作者：Gayle, George-Levi; Miller, Robert A.
作者单位：Carnegie Mellon University
摘要：We estimate a principal-agent model of moral hazard with longitudinal data on firms and managerial compensation over two disjoint periods spanning 60 years to investigate increased value and variability in managerial compensation. We find exogenous growth in firm size largely explains these secular trends in compensation. In our framework, exogenous from size works through two channels. First, conflicts of interest between shareholders and managers are magnified in large firms, so optimal comp...
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作者：Lorenzoni, Guido
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research
摘要：This paper presents a model of business cycles driven by shocks to consumer expectations regarding aggregate productivity. Agents are hit by heterogeneous productivity shocks, they observe their own productivity and a noisy public signal regarding aggregate productivity. The public signal gives rise to noise shocks, which have the features of aggregate demand shocks: they increase output, employment, and inflation in the short run and have no effects in the long run. Numerical examples suggest...
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作者：Brunnermeier, Markus K.; Yogo, Motohiro
作者单位：Princeton University; National Bureau of Economic Research; University of Pennsylvania
