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作者：Che, Yeon-Koo; Koh, Youngwoo
作者单位：Columbia University; Hanyang University
摘要：We study decentralized college admissions with uncertain student preferences. Colleges strategically admit students likely to be overlooked by competitors. Highly ranked students may receive fewer admissions or have a higher chance of receiving no admissions than those ranked below. When students' attributes are multidimensional, colleges avoid head-on competition by placing excessive weight on school-specific attributes such as essays. Restricting the number of applications or wait-listing al...
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作者：Sutton, John; Trefler, Daniel
作者单位：University of London; London School Economics & Political Science; University of Toronto; Canadian Institute for Advanced Research (CIFAR); National Bureau of Economic Research
摘要：We explore the relation between a country's income and the mix of products it exports. Both are simultaneously determined by countries' capabilities, that is, by countries' productivity and quality levels for each good. Our theoretical setup has two features. (1) Some goods have fewer high-quality producers/countries than others, meaning that there is comparative advantage. (2) Imperfect competition allows high- and low-quality producers to coexist. These two features generate an inverted-U, g...
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作者：Alesina, Alberto; Michalopoulos, Stelios; Papaioannou, Elias
作者单位：Harvard University; National Bureau of Economic Research; Brown University; University of London; London Business School
摘要：This study explores the consequences and origins of between-ethnicity inequality for a large sample of countries. First, combining satellite images of nighttime luminosity with the homelands of ethnolinguistic groups, we construct measures of ethnic inequality. Second, we uncover a strong inverse association between ethnic inequality and contemporary development above and beyond its relationship with cross-region and cross-administrative unit inequality. Third, we establish that differences in...
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作者：Costinot, Arnaud; Donaldson, Dave; Smith, Cory
作者单位：Massachusetts Institute of Technology (MIT); National Bureau of Economic Research; Stanford University
摘要：A large agronomic literature models the implications of climate change for a variety of crops and locations around the world. The goal of the present paper is to quantify the macro-level consequences of these micro-level shocks. Using an extremely rich micro-level data set that contains information about the productivity-both before and after climate change-of each of 10 crops for each of 1.7 million fields covering the surface of the earth, we find that the impact of climate change on these a...
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作者：Chan, David C.
作者单位：Stanford University
摘要：I investigate how teamwork may reduce moral hazard by joint monitoring and management. I study two organizational systems differing in the extent to which physicians may mutually manage work: Physicians are assigned patients in a nurse-managed system but divide patients between themselves in a self-managed system. The self-managed system increases throughput productivity by reducing a foot-dragging moral hazard, in which physicians prolong patient stays as expected future work increases. I fin...
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作者：Gilchrist, Duncan Sheppard; Sands, Emily Glassberg
摘要：We exploit the randomness of weather and the relationship between weather and moviegoing to quantify social spillovers in movie consumption. Instrumenting for early viewership with plausibly exogenous weather shocks captured in LASSO-chosen instruments, we find that shocks to opening weekend viewership are doubled over the following five weekends. Our estimated momentum arises almost exclusively at the local level, and we find no evidence that it varies with either ex post movie quality or the...
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作者：Board, Simon; Skrzypacz, Andrzej
作者单位：University of California System; University of California Los Angeles; Stanford University
摘要：A seller wishes to sell multiple goods by a deadline, for example, the end of a season. Potential buyers enter over time and can strategically time their purchases. Each period, the profit-maximizing mechanism awards units to the buyers with the highest valuations exceeding a sequence of cutoffs. We show that these cutoffs are deterministic, depending only on the inventory and time remaining; in the continuous-time limit, the optimal mechanism can be implemented by posting anonymous prices. Wh...
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作者：Chodorow-Reich, Gabriel; Karabarbounis, Loukas
作者单位：Harvard University; National Bureau of Economic Research; University of Minnesota System; University of Minnesota Twin Cities; Princeton University
摘要：The flow opportunity cost of moving from unemployment to employment consists of forgone public benefits and the forgone consumption value of nonworking time. We construct a time series of the opportunity cost of employment using detailed microdata and administrative or national accounts data to estimate benefits levels, eligibility, take-up, consumption by labor force status, hours, taxes, and preference parameters. The opportunity cost is procyclical and volatile over the business cycle. The ...
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作者：Gill, David; Prowse, Victoria
作者单位：Purdue University System; Purdue University
摘要：We investigate how cognitive ability and character skills influence the evolution of play toward Nash equilibrium in repeated strategic interactions. We find that more cognitively able subjects choose numbers closer to equilibrium, earn more, and converge more frequently to equilibrium play. We estimate a structural model of learning based on level k reasoning and find a positive relationship between cognitive ability and levels. Furthermore, the average level of more cognitively able subjects...
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作者：Hoberg, Gerard; Phillips, Gordon
作者单位：University of Southern California; Dartmouth College; National Bureau of Economic Research
摘要：We study how firms differ from their competitors using new time-varying measures of product similarity based on text-based analysis of firm 10-K product descriptions. This year-by-year set of product similarity measures allows us to generate a new set of industries in which firms can have their own distinct set of competitors. Our new sets of competitors explain specific discussion of high competition, rivals identified by managers as peer firms, and changes to industry competitors following e...
