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作者：Banerjee, Abhijit; Compte, Olivier
作者单位：Massachusetts Institute of Technology (MIT); Paris School of Economics; Institut Polytechnique de Paris; Ecole des Ponts ParisTech
摘要：We explore a model of non-Bayesian information aggregation in networks. Agents noncooperatively choose among Friedkin-Johnsen-type aggregation rules to maximize payoffs. The DeGroot rule is chosen in equilibrium if and only if there is noiseless information transmission, leading to consensus. With noisy transmission, while some disagreement is inevitable, the optimal choice of rule amplifies the disagreement: even with little noise, individuals place substantial weight on their own initial opi...
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作者：Akbarpour, Mohammad; Dworczak, Piotr; Kominers, Scott Duke
作者单位：Stanford University; Northwestern University; Harvard University
摘要：Many scarce public resources are allocated at below-market-clearing prices and sometimes for free. Such nonmarket mechanisms sacrifice some surplus, yet they can potentially improve equity. We develop a model of mechanism design with redistributive concerns. Agents are characterized by a privately observed willingness to pay for quality, a publicly observed label, and a social welfare weight. A market designer controls allocation and pricing of a set of objects of heterogeneous quality and max...
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作者：Carneiro, Pedro; Galasso, Emanuela; Garcia, Italo Lopez; Bedregal, Paula; Cordero, Miguel
作者单位：University of London; London School Economics & Political Science; University College London; Norwegian School of Economics (NHH); The World Bank; University of Southern California; IZA Institute Labor Economics; Pontificia Universidad Catolica de Chile; Universidad del Desarrollo; University of Bristol
摘要：We present results from a large-scale experimental evaluation of a national parenting program in Chile. The program is low cost: it lasts only 6-8 weeks, and it is administered to groups of eight to 12 parents. It is implemented by the national health system, taking advantage of its existing physical infrastructure and human resources. We find that 3 years after the interventions ends, children whose parents are offered the opportunity to participate in this program increase their vocabulary a...
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作者：Assad, Stephanie; Clark, Robert; Ershov, Daniel; Xu, Lei
作者单位：Queens University - Canada; University of London; University College London; University of Navarra; IESE Business School
摘要：We provide the first empirical analysis of the relationship between algorithmic pricing (AP) and competition by studying the impact of adoption in Germany's retail gasoline market, where software became widely available in 2017. Because adoption dates are unknown, we identify adopting stations by testing for structural breaks in AP markers, finding most breaks to be around the time of widespread AP introduction. Because station adoption is endogenous, we instrument using headquarter adoption. ...
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作者：Lillebo, Otto Sevaldson; Markussen, Simen; Roed, Knut; Zhao, Yuejun
作者单位：University of Edinburgh
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作者：Ortner, Juan; Sugaya, Takuo; Wolitzky, Alexander
作者单位：Boston University; Stanford University; Massachusetts Institute of Technology (MIT)
摘要：Cartels and bidding rings are often facilitated by intermediaries, who recommend prices/bids to firms and can impose penalties (such as reverting to competitive behavior in future interactions) if these recommendations are not followed. Motivated by such cases, we study correlated equilibria in first-price procurement auctions with complete information, where bidders who disobey their recommendations are penalized. Cartel-optimal profit is greater when more information about submitted bids is ...
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作者：Jagelka, Tomas
作者单位：University of Bonn; Institut Polytechnique de Paris; ENSAE Paris
摘要：I propose a method for mapping psychological personality traits to economic preferences. I use factor analysis to extract information on individuals' cognitive ability and personality and embed it within a random preference model to estimate distributions of risk and time preferences and parameters related to choice inconsistency. I explain up to 60% of variation in average risk and time preferences and individuals' capacity to make consistent choices using factors related to cognitive ability...
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作者：Braxton, J. Carter; Herkenhoff, Kyle; Phillips, Gordon M.
作者单位：University of Wisconsin System; University of Wisconsin Madison; Federal Reserve System - USA; Federal Reserve Bank - Minneapolis; University of Minnesota System; University of Minnesota Twin Cities; National Bureau of Economic Research; Dartmouth College
摘要：We empirically establish that unemployed individuals maintain significant access to credit and that upon a layoff, the unconstrained borrow while the constrained default and delever. Motivated by these findings, we develop a theory of credit lines and labor income risk to analyze optimal transfers to the unemployed. Since credit lines offer fixed interest rates and limits, credit lines are unresponsive to layoffs and provide greater consumption insurance relative to when debt is repriced perio...
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作者：Reynoso, Ana
作者单位：University of Michigan System; University of Michigan
摘要：Does easier divorce affect who marries whom? I exploit time variation in the adoption of unilateral divorce across the United States and show that it increases assortative matching among newlyweds. To unravel the underlying mechanisms, I estimate a novel life-cycle equilibrium model of marriage, labor supply, consumption, and divorce under the baseline mutual consent divorce regime. By solving the model under unilateral divorce, I find that, consistent with the data, assortative matching incre...
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作者：Oostrom, Tamar
作者单位：University System of Ohio; Ohio State University
摘要：This paper estimates the effect of financial sponsorship of clinical trials on reported drug efficacy, leveraging the insight that the exact same pairs of drugs are often compared in different trials conducted by parties with different financial interests. I assemble new psychiatric trial data to estimate that a drug appears substantially more effective when the trial is sponsored by that drug's manufacturer, compared with the same drug tested against the same combination of drugs but without ...
