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作者：Allen, Roy; Rehbeck, John
作者单位：Western University (University of Western Ontario); Ohio State University; University System of Ohio; Ohio State University
摘要：This paper provides nonparametric identification results for random coefficient distributions in perturbed utility models. We cover discrete choice and models of multiple purchases. We establish identification using variation in mean quantities. The results apply even when an analyst observes only aggregate demands but not whether goods are chosen together. The identification results use exclusion restrictions on covariates and independence between random slope coefficients and random intercep...
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作者：Chen, Li-Shiun; Wang, Ping; Yao, Yao
作者单位：Washington University (WUSTL); Washington University (WUSTL); National Bureau of Economic Research; Victoria University Wellington
摘要：Evidence suggests that smokers' responsiveness to cessation medication depends on genotypes. Whether personalized treatment based on genotypes is cost effective compared to standard treatments, however, has been unexplored. We thus construct a lifecycle model with endogenous health evolution and life expectancy and with heterogeneities in genotypes, demographics, and adolescent smoking. We examine the cost effectiveness of three intervention policies: (i) a standard policy where all smokers re...
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作者：Echenique, Federico; Robinson-Cortes, Alejandro; Yariv, Leeat
作者单位：University of California System; University of California Berkeley; University of Exeter; Princeton University
摘要：We present an experimental study of decentralized two-sided matching markets with no transfers. Experimental participants are informed of everyone's preferences and can make arbitrary nonbinding match offers that get finalized when a period of market inactivity has elapsed. Several insights emerge. First, stable outcomes are prevalent. Second, while centralized clearinghouses commonly aim at implementing extremal stable matchings, our decentralized markets most frequently culminate in the medi...
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作者：Chan, Joshua C. C.; Matthes, Christian; Yu, Xuewen
作者单位：Purdue University System; Purdue University; University of Notre Dame; Fudan University
摘要：Large VARs are increasingly used in structural analysis as a unified framework to study the impacts of multiple structural shocks simultaneously. However, the concurrent identification of multiple shocks using sign and ranking restrictions poses significant practical challenges to the point where existing algorithms cannot be used with such large VARs. To address this, we introduce a new numerically efficient algorithm that facilitates the estimation of impulse responses and related measures i...
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作者：Sakaguchi, Shosei
作者单位：University of Tokyo
摘要：Many policies involve dynamics in their treatment assignments where individuals receive sequential interventions over multiple stages. We study estimation of an optimal dynamic treatment regime that guides the optimal treatment assignment for each individual at each stage based on their history. We propose an empirical welfare maximization approach in this dynamic framework, which estimates the optimal dynamic treatment regime using data from an experimental or quasi-experimental study while s...
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作者：Aastveit, Knut Are; Bjornland, Hilde C.; Gundersen, Thomas S.
作者单位：Norges Bank; BI Norwegian Business School
摘要：We show that U.S. shale oil producers exhibit a high degree of short-run price responsiveness, primarily through the timing of well completions and refracturing. Using a novel monthly well-level panel covering over 120,000 shale wells across ten states from 2005 to 2019, we document significant supply adjustments to price signals. The response varies significantly across states and firm types, highlighting the importance of accounting for micro-level heterogeneity in production behavior. Mecha...
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作者：Chang, Yoosoon; Lu, Ye; Park, Joon Y.
作者单位：Indiana University System; Indiana University Bloomington; University of Sydney
摘要：In this paper, we analyze regressions with observations collected at small time intervals over a long period of time. For the formal asymptotic analysis, we assume that samples are obtained from continuous time stochastic processes, and let the sampling interval delta shrink down to zero and the sample span T increase up to infinity. In this setup, we show that the standard Wald statistic diverges to infinity and the regression becomes spurious as long as delta -> 0 sufficiently fast relative ...
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作者：Allen, Roy; Rehbeck, John
作者单位：Western University (University of Western Ontario); University System of Ohio; Ohio State University
摘要：This paper studies approximation error in the quasilinear utility model. Error arises because individuals do not perfectly optimize, and instead satisfice. We investigate the consequences of individual satisficing for modeling aggregate demand, providing an approximate aggregation theorem. We present a simple method for statistical inference on the minimal level of satisficing needed to explain aggregate data. In an illustrative application to scanner panel data, we find that individual-level ...
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作者：Blundell, Richard; Gu, Ran; Leth-petersen, Soren; Low, Hamish; Meghir, Costas
作者单位：Centre for Economic Policy Research - UK; University of London; London School Economics & Political Science
摘要：Private information on car quality means the sale price reflects the average quality of cars sold, which can be lower than the average quality in the population. This difference is the lemons penalty imposed on holders of high-quality cars. We estimate the evolution of the lemons penalty through an equilibrium model of car ownership with private information using Danish linked registry data on car ownership, income, and wealth. We examine the aggregate implications and distributional consequen...
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作者：Higbee, Samuel D.
作者单位：University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
摘要：I study the problem of a decision maker choosing a policy that allocates treatment to a heterogeneous population on the basis of experimental data that includes only a subset of possible treatment values. The effects of new treatments are partially identified by shape restrictions on treatment response. Policies are compared according to the minimax regret criterion, and I show that the empirical analog of the population decision problem has a tractable linear- and integer-programming formulat...
