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作者：Harrison, Glenn W.; List, John A.
作者单位：State University System of Florida; University of Central Florida; National Bureau of Economic Research; University of Chicago
摘要：We examine the relevance of experimental findings from laboratory settings that abstract from the field context of the task that theory purports to explain. Using common value auction theory as our guide, we identify naturally occurring settings in which one can test the theory. Experienced agents bidding in familiar roles do not fall prey to the winner's curse. Yet, experienced agents fall prey to the winner's curse when bidding in an unfamiliar role. We conclude that the theory predicts fiel...
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作者：Dolan, Paul; Kahneman, Daniel
作者单位：Imperial College London; Princeton University
摘要：The term 'utility' can be interpreted in terms of the hedonic experience of an outcome (experienced utility) or in terms of the preference or desire for that outcome (decision utility). It is this second interpretation that lies at the heart of the methods that economists have developed to value non-market goods, such as health. In this article, we argue that decision utility is unlikely to generate meaningful data on the utility associated with different experiences, and instead economists sh...
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作者：Linn, Joshua
作者单位：University of Illinois System; University of Illinois Chicago; University of Illinois Chicago Hospital
摘要：This article investigates the link between factor prices, technology and factor demands. Using plant-level data from the Census of Manufactures, I compare the energy intensity of entrants and incumbents from 1967-97. A 10% increase in the price of energy reduces the relative energy intensity of entrants by 1%. The estimate implies that technology adoption by incumbents explains a statistically significant but relatively small fraction of changes in aggregate energy demand in the 1970s and 1980...
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作者：Yang, Dean
作者单位：University of Michigan System; University of Michigan
摘要：How do households respond to overseas members' economic shocks? Overseas Filipinos in dozens of countries experienced sudden, heterogeneous changes in exchange rates during the 1997 Asian financial crisis. Appreciation of a migrant's currency against the Philippine peso leads to increases in household remittances from overseas. The estimated elasticity of Philippine-peso remittances with respect to the exchange rate is 0.60. Positive migrant shocks lead to enhanced human capital accumulation a...
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作者：Calzada, Joan; Valletti, Tommaso M.
作者单位：University of Barcelona; Imperial College London; Sapienza University Rome
摘要：We develop a model of logit demand that extends the traditional duopoly framework of network competition to a multi-firm industry. First, we show that incumbents establish the reciprocal access charge inefficiently below cost when they compete in prices but they behave efficiently if they compete in utilities. Secondly, we study how incumbents determine the industry-wide access charge under the threat of entry. We show that incumbents may accommodate all possible entrants, only a group of them...
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作者：Shupp, Robert S.; Williams, Arlington W.
作者单位：Michigan State University; Indiana University System; Indiana University Bloomington
摘要：This research compares lottery valuation decisions made by individuals with similar decisions made by small groups. There is an extensive social psychology literature addressing group versus individual decision making but few studies explore this issue in economic contexts with cash rewards. Willingness-to-pay data elicited from independent samples of individuals and three-person groups in a repeated-measures experimental design reveal that: the variance of risk preferences is generally smalle...
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作者：Black, Sandra E.; Devereux, Paul J.; Salvanes, Kjell G.
作者单位：University of California System; University of California Los Angeles; National Bureau of Economic Research; University College Dublin; IZA Institute Labor Economics; Norwegian School of Economics (NHH)
摘要：This article investigates whether increasing mandatory educational attainment through compulsory schooling legislation encourages women to delay childbearing. We use variation induced by changes in compulsory schooling laws in both the US and Norway to estimate the effect in two very different institutional environments. We find evidence that increased compulsory schooling does in fact reduce the incidence of teenage childbearing in both the US and Norway, and these estimates are quite robust ...
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作者：Propper, Carol; Burgess, Simon; Gossage, Denise
作者单位：Centre for Economic Policy Research - UK; University of Bristol; University of Bristol; University of Oxford
摘要：This article exploits policy change by the UK government to identify the impact of competition on quality. It uses differences in competition over time and space to examine the impact of competition in an environment with limited quality signals in which hospitals competed mainly on price. Using AMI mortality as a measure of hospital quality we find that the relationship between competition and this measure of quality is negative. We also find that competition reduced waiting times. Our result...
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作者：Lothian, James R.; Taylor, Mark P.
作者单位：Fordham University; University of Warwick; Centre for Economic Policy Research - UK
摘要：Using data since 1820 for the US, the UK and France, we test for the presence of real effects on the equilibrium real exchange rate (the Harrod-Balassa-Samuelson, HBS effect) in an explicitly nonlinear framework and allowing for shifts in real exchange rate volatility across nominal regimes. A statistically significant HBS effect for sterling-dollar captures its long-run trend and explains a proportion of variation in changes in the real rate that is proportional to the time horizon of the cha...
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作者：Paserman, M. Daniele
作者单位：Boston University; Hebrew University of Jerusalem
摘要：This article estimates the degree of hyperbolic discounting in a job search model quantitatively, using data on unemployment spells and accepted wages from the NLSY. The results point to a substantial degree of hyperbolic discounting for low and medium wage workers. The structural estimates are then used to evaluate alternative policy interventions aimed at reducing unemployment. The estimated effects of a given policy can vary by up to 40%, depending on the assumed type of time discounting. S...
