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作者：Almagro, Milena; Dominguez-Iino, Tomas
作者单位：University of Chicago; National Bureau of Economic Research
摘要：This paper shows the endogeneity of amenities plays a crucial role in determining the welfare distribution of a city's residents. We quantify this mechanism by building a dynamic model of residential choice with heterogeneous households, where consumption amenities are the equilibrium outcome of a market for non-tradables. We estimate our model using Dutch microdata and leveraging variation in Amsterdam's spatial distribution of tourists as a demand shifter, finding significant heterogeneity i...
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作者：Basteck, Christian; Ehlers, Lars
作者单位：Universite de Montreal; Universite de Montreal
摘要：We study random assignment of indivisible objects among a set of agents, when each agent is to receive one object and has strict preferences over the objects. Random Serial Dictatorship (RSD) satisfies equal treatment of equals, ex post efficiency, and strategy-proofness. Answering a longstanding open question, we show that RSD is not characterized by those properties-there are other mechanisms satisfying equal treatment of equals, ex post efficiency, and strategy-proofness which are not welfa...
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作者：Alonso, Ricardo; Padro I Miquel, Gerard
作者单位：University of London; London School Economics & Political Science; Yale University; Yale University
摘要：Two opposed interested parties (IPs) compete to influence citizens with heterogeneous priors which receive news items produced by a variety of sources. The IPs fight to capture the coverage conveyed in these items. We characterize the equilibrium level of capture of item as well as the equilibrium level of information transmission. Capture increases the prevalence of the ex ante most informative messages and can explain the empirical distribution of slant at the news-item level. Opposite captu...
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作者：Buchholz, Nicholas; Doval, Laura; Kastl, Jakub; Matejka, Filip; Salz, Tobias
作者单位：Princeton University; Columbia University; University of Cambridge; Centre for Economic Policy Research - UK; Charles University Prague; Czech Academy of Sciences; Economics Institute of the Czech Academy of Sciences; Massachusetts Institute of Technology (MIT)
摘要：We recover valuations of time using detailed data from a large ride-hail platform, where drivers bid on trips and consumers choose between a set of rides with different prices and wait times. Leveraging a consumer panel, we estimate demand as a function of both prices and wait times and use the resulting estimates to recover heterogeneity in the value of time across consumers. We study the welfare implications of personalized pricing and its effect on the platform, drivers, and consumers. Taki...
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作者：Cesa-Bianchi, Nicolo; Colomboni, Roberto; Kasy, Maximilian
作者单位：University of Milan; Polytechnic University of Milan; University of Oxford
摘要：We consider the problem of repeatedly choosing policies to maximize social welfare. Welfare is a weighted sum of private utility and public revenue. Earlier outcomes inform later policies. Utility is not observed, but indirectly inferred. Response functions are learned through experimentation.We derive a lower bound on regret, and a matching adversarial upper bound for a variant of the Exp3 algorithm. Cumulative regret grows at a rate of T2/3. This implies that (i) welfare maximization is hard...
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作者：Sadler, Evan
作者单位：Columbia University
摘要：I propose a method for selecting seeds to maximize contagion. First, fit a random graph model using a coarse categorization of individuals. Next, compute a seed multiplier for each category-this is the average number of new infections a seed generates. Finally, seed the category with the highest multiplier. Relative to the most common methods, my approach requires far less granular data, and it consumes less computing power-the problem scales with the number of categories, not the number of in...
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作者：Wager, Stefan
作者单位：Stanford University
摘要：We use the martingale construction of Luedtke and van der Laan (2016) to develop tests for the presence of treatment heterogeneity. The resulting sequential validation approach can be instantiated using various validation metrics, such as BLPs, GATES, QINI curves, etc., and provides an alternative to cross-validation-like cross-fold application of these metrics. This note was prepared as a comment on the Fisher-Schultz paper by Chernozhukov, Demirer, Duflo, and Fern & aacute;ndez-Val, forthcom...
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作者：Imbens, Guido W.; Bandiera, Oriana; Halac, Marina; Ho, Kate; Jones, Charles I.; Pathak, Parag; Trebbi, Francesco; Yariv, Leeat
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作者：Lau, Morten I.; Yoo, Hong Il
作者单位：Copenhagen Business School; Durham University; Loughborough University; University of Cape Town
摘要：Structural measures of higher order risk attitudes have well-developed foundations in Expected Utility Theory (EUT), but little is known about their empirical magnitudes. We introduce a novel experimental design and a companion econometric model that allows us to structurally estimate indices of risk aversion, prudence, and temperance under EUT without imposing restrictions on their interdependence. We find that indices of absolute risk aversion, prudence, and temperance exhibit distinct patte...
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作者：Breunig, Christoph; Liu, Ruixuan; Yu, Zhengfei
作者单位：University of Bonn; Chinese University of Hong Kong; University of Tsukuba
摘要：We propose a double robust Bayesian inference procedure on the average treatment effect (ATE) under unconfoundedness. For our new Bayesian approach, we first adjust the prior distributions of the conditional mean functions, and then correct the posterior distribution of the resulting ATE. Both adjustments make use of pilot estimators motivated by the semiparametric influence function for ATE estimation. We prove asymptotic equivalence of our Bayesian procedure and efficient frequentist ATE est...
