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作者：Coey, Dominic
作者单位：Stanford University
摘要：Using a large set of private health insurance claims, we estimate how physicians' financial incentives affect their treatment choices in heart attack management. Different insurance plans pay physicians different amounts for the same services, generating the required variation in financial incentives. We begin by presenting evidence that, unconditionally, plans that pay physicians more for more invasive treatments are associated with a larger fraction of such treatments. To interpret this corr...
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作者：Gordon, Grey
作者单位：Indiana University System; Indiana University Bloomington
摘要：More debt forgiveness directly benefits households but indirectly makes credit more expensive. How does aggregate risk affect this trade-off? In a calibrated general equilibrium life-cycle model, aggregate risk reduces the welfare benefit of making default very costly when the costs are borne by all households at all times. The result does not necessarily extend to state-contingent policies. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 in particular generates a small wel...
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作者：de Nicola, Francesca
作者单位：The World Bank
摘要：I develop and estimate a dynamic stochastic optimization model to assess the impact of weather insurance on the consumption, investment, and welfare of farmers in developing countries. Weather insurance has the potential to provide large welfare gains, equivalent to a permanent increase in consumption of almost 17%. Moreover, it can allow for the adoption of riskier but more productive seeds, further enhancing welfare. The interplay with other uninsured risks, the presence of liquidity constra...
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作者：Egesdal, Michael; Lai, Zhenyu; Su, Che-Lin
作者单位：Harvard University; University of Chicago
摘要：We investigate the estimation of models of dynamic discrete-choice games of incomplete information, formulating the maximum-likelihood estimation exercise as a constrained optimization problem that can be solved using state-of-the-art constrained optimization solvers. Under the assumption that only one equilibrium is played in the data, our approach avoids repeatedly solving the dynamic game or finding all equilibria for each candidate vector of the structural parameters. We conduct Monte Carl...
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作者：Song, Suyong; Schennach, Susanne M.; White, Halbert
作者单位：University of Iowa; Brown University; University of California System; University of California San Diego
摘要：We study the identification and estimation of covariate-conditioned average marginal effects of endogenous regressors in nonseparable structural systems when the regressors are mismeasured. We control for the endogeneity by making use of covariates as control variables; this ensures conditional independence between the endogenous causes of interest and other unobservable drivers of the dependent variable. Moreover, we recover distributions of the underlying true causes from their error-laden m...
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作者：Collins, Sean M.; James, Duncan
作者单位：Fordham University
摘要：Informed by Grether and Plott (1979) and Cox and Grether (1996), we implement various preference elicitation procedures over a parameter grid. First, we find a lower incidence of preference reversals for probability equivalents from the dual-to-selling version of Becker, Degroot, and Marschak (1964; BDM) than for certainty equivalents from traditional BDMconsistent with conjectures regarding response mode. Second, the Blavatskyy (2009, 2012) model of probabilistic choice can explain the incide...
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作者：Miao, Jianjun; Wang, Pengfei; Xu, Zhiwei
作者单位：Boston University; Jinan University; Zhejiang University; Hong Kong University of Science & Technology; Shanghai Jiao Tong University
摘要：We present an estimated dynamic stochastic general equilibrium model of stock market bubbles and business cycles using Bayesian methods. Bubbles emerge through a positive feedback loop mechanism supported by self-fulfilling beliefs. We identify a sentiment shock that drives the movements of bubbles and is transmitted to the real economy through endogenous credit constraints. This shock explains most of the stock market fluctuations and sizable fractions of the variations in real quantities. It...
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作者：Richards-Shubik, Seth
作者单位：Lehigh University
摘要：Most work on social interactions studies a single, composite effect of interactions within a group. Yet in the case of sexual initiation, there are two distinct social mechanismspeer-group norms and partner availabilitywith separate effects and different potential interventions. Here I develop an equilibrium search and matching model for first sexual partners that specifies distinct roles for these two mechanisms as part of demand and supply. I estimate the model using a national sample of hig...
