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作者：Cole, Harold L.; Krueger, Dirk; Mailath, George J.; Park, Yena
作者单位：University of Pennsylvania; National Bureau of Economic Research; Center for Economic & Policy Research (CEPR); Australian National University; Seoul National University (SNU)
摘要：We analyse efficient risk-sharing arrangements when the value from deviating is determined endogenously by another risk-sharing arrangement. Coalitions form to insure against idiosyncratic income risk. Self-enforcing contracts for both the original coalition and any coalition formed (joined) after deviations rely on a belief in future cooperation which we term trust. We treat the contracting conditions of original and deviation coalitions symmetrically and show that higher trust tightens incen...
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作者：Bhattacharya, Debopam; Dupas, Pascaline; Kanaya, Shin
作者单位：University of Cambridge; Stanford University; University of Essex; Kyoto University
摘要：Many real-life settings of individual choice involve social interactions, causing targeted policies to have spillover effects. This article develops novel empirical tools for analysing demand and welfare effects of policy interventions in binary choice settings with social interactions. Examples include subsidies for health-product adoption and vouchers for attending a high-achieving school. We show that even with fully parametric specifications and unique equilibrium, choice data, that are su...
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作者：Ghili, Soheil; Handel, Ben; Hendel, Igal; Whinston, Michael D.
作者单位：Yale University; University of California System; University of California Berkeley; Northwestern University; Massachusetts Institute of Technology (MIT); Massachusetts Institute of Technology (MIT)
摘要：Reclassification risk is a major concern in health insurance where contracts are typically 1 year in length but health shocks often persist for much longer. While most health systems with private insurers pair short-run contracts with substantial pricing regulations to reduce reclassification risk, long-term contracts with one-sided insurer commitment have significant potential to reduce reclassification risk without the negative side effects of price regulation, such as adverse selection. We ...
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作者：Ager, Philipp; Feigenbaum, James J.; Hansen, Casper W.; Tan, Hui Ren
作者单位：University of Mannheim; Center for Economic & Policy Research (CEPR); Boston University; National Bureau of Economic Research; University of Copenhagen; National University of Singapore
摘要：Fears of immigrants as a threat to public health have a long and sordid history. At the turn of the 20th century, when immigrants made up one-third of the population in crowded American cities, contemporaries blamed high urban mortality rates on the newest arrivals. We evaluate how the implementation of country-specific immigration quotas in the 1920s affected urban health. Cities with larger quota-induced reductions in immigration experienced a persistent decline in mortality rates, driven by...
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作者：Borusyak, Kirill; Jaravel, Xavier; Spiess, Jann
作者单位：University of California System; University of California Berkeley; University of London; London School Economics & Political Science; Stanford University
摘要：We develop a framework for difference-in-differences designs with staggered treatment adoption and heterogeneous causal effects. We show that conventional regression-based estimators fail to provide unbiased estimates of relevant estimands absent strong restrictions on treatment-effect homogeneity. We then derive the efficient estimator addressing this challenge, which takes an intuitive imputation form when treatment-effect heterogeneity is unrestricted. We characterize the asymptotic behavio...
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作者：Gieczewski, German; Kosterina, Svetlana
作者单位：Princeton University; Amazon.com
摘要：We study policy experimentation in organizations with endogenous membership. An organization decides when to stop a policy experiment based on its results. As information arrives, agents update their beliefs, and enter or leave the organization based on their expected flow payoffs. Unsuccessful experiments make all agents more pessimistic, but also drive out conservative members. We identify sufficient conditions under which the latter effect dominates, leading to excessive experimentation. In...
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作者：Aryal, Gaurab; Murry, Charles; Williams, Jonathan W.
作者单位：Washington University (WUSTL); Boston College; University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：We develop a model of inter-temporal and intra-temporal price discrimination by monopoly airlines to study the ability of different discriminatory pricing mechanisms to increase efficiency and the associated distributional implications. To estimate the model, we use unique data from international airline markets with flight-level variation in prices across time, cabins, and markets and information on passengers' reasons for travel and time of purchase. The current pricing practice yields appro...
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作者：Andre, Peter
作者单位：Goethe University Frankfurt
摘要：Meritocracies aspire to reward hard work and promise not to judge individuals by the circumstances into which they were born. However, circumstances often shape the choice to work hard. I show that people's merit judgments are shallow and insensitive to this effect. They hold others responsible for their choices, even if these choices have been shaped by unequal circumstances. In an experiment, U.S. participants judge how much money workers deserve for the effort they exert. Unequal circumstan...
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作者：Davis, Morris A.; Ghent, Andra C.; Gregory, Jesse
作者单位：Rutgers University System; Rutgers University New Brunswick; Utah System of Higher Education; University of Utah; University of Wisconsin System; University of Wisconsin Madison
摘要：We study the impact of widespread adoption of work-from-home (WFH) technology using an equilibrium model where people choose where to live, how to allocate their time between working at home and at the office, and how much space to use in production. Motivated by cross-sectional evidence on WFH, we model WFH as a complement to work at the office. Simulations of the model indicate that the pandemic induced a large change to the relative productivity of WFH that substantially increased home pric...
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作者：He, Xiaoqi; Song, Kyungchul
作者单位：Central University of Finance & Economics; University of British Columbia
摘要：This article introduces a measure of the diffusion of binary outcomes over a large, sparse network, when the diffusion is observed in two time periods. The measure captures the aggregated spillover effect of the state-switches in the initial period on their neighbours' outcomes in the second period. This article introduces a causal network that captures the causal connections among the cross-sectional units over the two periods. It shows that when the researcher's observed network contains the...
