Review of Economic Studies

最新文章

• Preferences and Performance in Simultaneous First-Price Auctions: A Structural Analysis AI翻译
  作者：Gentry, Matthew; Komarova, Tatiana; Schiraldi, Pasquale
  作者单位：State University System of Florida; Florida State University; University of London; London School Economics & Political Science; Center for Economic & Policy Research (CEPR)
  摘要：Motivated by the prevalence of simultaneous bidding across a wide range of auction markets, we develop and estimate a model of strategic interaction in simultaneous first-price auctions when objects are heterogeneous and bidders have non-additive preferences over combinations. We establish non-parametric identification of primitives in this model under standard exclusion restrictions, providing a basis for both estimation and testing of preferences over combinations. We then apply our model to...
• We Are All Behavioural, More, or Less: A Taxonomy of Consumer Decision-Making AI翻译
  作者：Stango, Victor; Zinman, Jonathan
  作者单位：University of California System; University of California Davis; Dartmouth College; National Bureau of Economic Research
  摘要：We examine how 17 behavioural biases relate to each other, to three standard measures of risk and time preferences, to cognitive skills, personality, and demographics, and to outcomes in household finance, well-being, and health. Most consumers in our nationally representative panel data exhibit multiple biases, with substantial cross-person heterogeneity. Biases are positively correlated within person, especially after adjusting for measurement error. From that correlation structure, we reduc...
• Economic and Social Outsiders but Political Insiders: Sweden's Populist Radical Right AI翻译
  作者：Dal Bo, Ernesto; Finan, Frederico; Folke, Olle; Persson, Torsten; Rickne, Johanna
  作者单位：University of California System; University of California Berkeley; Uppsala University; Stockholm University; Stockholm University; University of Nottingham
  摘要：We study the politicians and voters of the Sweden Democrats, a major populist radical-right party. Based on detailed administrative data, we present the first comprehensive account of which politicians are selected into such a party. Surveys show that politicians and voters of the Sweden Democrats share strong anti-establishment and anti-immigration attitudes that drastically set them apart from Sweden's other parties. Searching for individual traits that link naturally to these attitudes, we ...
• Tax Policy and Lumpy Investment Behaviour: Evidence from China's VAT Reform AI翻译
  作者：Chen, Zhao; Jiang, Xian; Liu, Zhikuo; Serrato, Juan Carlos Suarez; Xu, Daniel Yi
  作者单位：Fudan University; University of California System; University of California Davis; Duke University; National Bureau of Economic Research
  摘要：We incorporate the lumpy nature of firm-level investment into the study of how tax policy affects investment behaviour. We show that tax policies can directly impact the lumpiness of investment. Extensive-margin responses to tax policy are key to understanding the effects of different tax reforms and to designing effective stimulus policies. We illustrate these results by studying China's 2009 VAT reform, which lowered the tax cost of investment and reduced partial irreversibility-the price ga...
• Immigration and Redistribution AI翻译
  作者：Alesina, Alberto; Miano, Armando; Stantcheva, Stefanie
  作者单位：Centre for Economic Policy Research - UK; Bocconi University; National Bureau of Economic Research
  摘要：Does immigration change support for redistribution? We design and conduct large-scale surveys and experiments in six countries to investigate how people perceive immigrants and how these perceptions influence their support for redistribution. We find striking misperceptions about the number and characteristics of immigrants. In all countries, respondents greatly overestimate the total number of immigrants, think immigrants are culturally and religiously more distant from them, and economically...
• How Credit Constraints Impact Job Finding Rates, Sorting, and Aggregate Output AI翻译
  作者：Herkenhoff, Kyle; Phillips, Gordon; Cohen-Cole, Ethan
  作者单位：University of Minnesota System; University of Minnesota Twin Cities; Dartmouth College
  摘要：How do consumer credit markets affect the allocation of workers to firms, output, and labour productivity? We address this question in two steps. First, we use new micro-data to estimate empirical elasticities of job search patterns to credit. Second, we estimate our novel theory of sorting under risk aversion to match these elasticities, and then we conduct aggregate counterfactuals. Empirically, we show that an increase in credit limits worth 10% of prior annual earnings allows individuals t...
• On the Use of Outcome Tests for Detecting Bias in Decision Making AI翻译
  作者：Canay, Ivan A.; Mogstad, Magne; Mountjoy, Jack
  作者单位：Northwestern University; University of Chicago; University of Chicago; National Bureau of Economic Research
  摘要：The decisions of judges, lenders, journal editors, and other gatekeepers often lead to significant disparities across affected groups. An important question is whether, and to what extent, these group-level disparities are driven by relevant differences in underlying individual characteristics or by biased decision makers. Becker (1957, 1993) proposed an outcome test of bias based on differences in post-decision outcomes across groups, inspiring a large and growing empirical literature. The go...
• Competition and Career Advancement AI翻译
  作者：Johnsen, Julian, V; Ku, Hyejin; Salvanes, Kjell G.
  作者单位：University of Bergen; University of London; University College London; Norwegian School of Economics (NHH)
  摘要：In standard promotion tournaments, contestants are ranked based on their output or productivity. We argue that workers' career progression may also depend on their relative rankings in dimensions a priori unrelated to their job performance, such as visibility or in-person presence. Such implicit tournaments may rationalize a variety of seemingly counterproductive practices in the workplace, including long working hours, low uptake of statutory leave, and presenteeism. We illustrate the signifi...
• Evaluating the Accuracy of Counterfactuals: Heterogeneous Survival Expectations in a Life Cycle Model AI翻译
  作者：de Bresser, Jochem
  作者单位：Tilburg University; Tilburg University
  摘要：This article shows that individual-level heterogeneity in survival expectations derived from subjective survey information improves the out-of-sample predictions of a dynamic model of retirement and saving. We consider three approaches to modelling survival: life tables, average subjective expectations, and individual-specific estimates based on reported survival probabilities. The models are estimated using Dutch data from the 1990s, a period during which workers could retire from age 59 at n...
• Estimation of Discrete Games with Weak Assumptions on Information AI翻译
  作者：Magnolfi, Lorenzo; Roncoroni, Camilla
  作者单位：University of Wisconsin System; University of Wisconsin Madison; University of Warwick
  摘要：We propose a method to estimate static discrete games with weak assumptions on the information available to players. We do not fully specify the information structure of the game but allow instead for all information structures consistent with players knowing their own payoffs. To make this approach tractable, we adopt as a solution concept Bayes correlated equilibrium (BCE). We characterize the sharp identified set under BCE and unrestricted equilibrium selection, and find that in simple game...