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作者：Akerlof, Robert; Holden, Richard
作者单位：University of Warwick; University of New South Wales Sydney
摘要：Most projects, in most walks of life, require the participation of multiple parties. While it is difficult to unite individuals in a common endeavor, some people, who we call movers and shakers, seem able to do it. The article specifically examines moving and shaking of an investment project, whose return depends on its quality and the total capital invested in it. We analyze a model with two types of agents: managers and investors. Managers and investors initially form social connections. Man...
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作者：Kirkeboen, Lars J.; Leuven, Edwin; Mogstad, Magne
作者单位：Statistics Norway; University of Oslo; University of Chicago
摘要：This article examines the labor market payoffs to different types of postsecondary education, including field and institution of study. Instrumental variables (IV) estimation of the payoff to choosing one type of education compared to another is made particularly challenging by individuals choosing between several types of education. Not only does identification require one instrument per alternative, but it is also necessary to deal with the issue that individuals who choose the same educatio...
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作者：Fajgelbaum, Pablo D.; Khandelwal, Amit K.
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Columbia University
摘要：Individuals that consume different baskets of goods are differentially affected by relative price changes caused by international trade. We develop a methodology to measure the unequal gains from trade across consumers within countries. The approach requires data on aggregate expenditures and parameters estimated from a nonhomothetic gravity equation. We find that trade typically favors the poor, who concentrate spending in more traded sectors.
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作者：David, Joel M.; Hopenhayn, Hugo A.; Venkateswaran, Venky
作者单位：University of Southern California; University of California System; University of California Los Angeles; New York University
摘要：We propose a theory linking imperfect information to resource misallocation and hence to aggregate productivity and output. In our setup, firms look to a variety of noisy information sources when making input decisions. We devise a novel empirical strategy that uses a combination of firm-level production and stock market data to pin down the information structure in the economy. Even when only capital is chosen under imperfect information, applying this methodology to data from the United Stat...
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作者：Bronnenberg, Bart J.; Dube, Jean-Pierre; Gentzkow, Matthew; Shapiro, Jesse M.
作者单位：Tilburg University; University of Chicago; National Bureau of Economic Research; Stanford University; Brown University
摘要：We estimate the effect of information and expertise on consumers' willingness to pay for national brands in physically homogeneous product categories. In a detailed case study of headache remedies, we find that more informed or expert consumers are less likely to pay extra to buy national brands, with pharmacists choosing them over store brands only 9 percent of the time, compared to 26 percent of the time for the average consumer. In a similar case study of pantry staples such as salt and sug...
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作者：Bertrand, Marianne; Kamenica, Emir; Pan, Jessica
作者单位：University of Chicago; National University of Singapore
摘要：We examine causes and consequences of relative income within households. We show that the distribution of the share of income earned by the wife exhibits a sharp drop to the right of 12, where the wife's income exceeds the husband's income. We argue that this pattern is best explained by gender identity norms, which induce an aversion to a situation where the wife earns more than her husband. We present evidence that this aversion also impacts marriage formation, the wife's labor force partici...
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作者：Atkeson, Andrew; Hellwig, Christian; Ordonez, Guillermo
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Centre for Economic Policy Research - UK; University of Pennsylvania
摘要：In all markets, firms go through a process of creative destruction: entry, random growth, and exit. In many of these markets there are also regulations that restrict entry, possibly distorting this process. We study the public interest rationale for entry taxes in a general equilibrium model with free entry and exit of firms in which firm dynamics are driven by reputation concerns. In our model firms can produce high-quality output by making a costly but efficient initial unobservable investme...
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作者：Busse, Meghan R.; Pope, Devin G.; Pope, Jaren C.; Silva-Risso, Jorge
作者单位：Northwestern University; National Bureau of Economic Research; University of Chicago; Brigham Young University; University of California System; University of California Riverside
摘要：When buying durable goods, consumers must forecast how much utility they will derive from future consumption, including consumption in different states of the world. This can be complicated for consumers because making intertemporal evaluations may expose them to a variety of psychological biases such as present bias, projection bias, and salience effects. We investigate whether consumers are affected by such intertemporal biases when they purchase automobiles. Using data for more than 40 mill...
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作者：Caselli, Francesco; Morelli, Massimo; Rohner, Dominic
作者单位：University of London; London School Economics & Political Science; University of London; London School Economics & Political Science; Centre for Economic Policy Research - UK; National Bureau of Economic Research; Bocconi University; Bocconi University; University of Lausanne
摘要：We establish a theoretical and empirical framework to assess the role of resource endowments and their geographic location in interstate conflict. The main predictions of the theory are that conflict is more likely when at least one country has natural resources, when the resources in the resource-endowed country are closer to the border, and, in the case where both countries have natural resources, when the resources are located asymmetrically vis-A -vis the border. We test these predictions ...
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作者：Allcott, Hunt
作者单位：National Bureau of Economic Research; New York University
摘要：Site selection bias'' can occur when the probability that a program is adopted or evaluated is correlated with its impacts. I test for site selection bias in the context of the Opower energy conservation programs, using 111 randomized control trials involving 8.6 million households across the United States. Predictions based on rich microdata from the first 10 replications substantially overstate efficacy in the next 101 sites. Several mechanisms caused this positive selection. For example, ut...
