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作者：Gilboa, Itzhak; Minardi, Stefania; Wang, Fan
作者单位：Hautes Etudes Commerciales (HEC) Paris; Reichman University; ESSEC Business School
摘要：We adopt a definition of rationality as robustness to analysis: A mode of behavior is rational for a decision maker if she feels comfortable with it once it has been analyzed and explained to her. With this definition in mind, is it irrational to violate continuity axioms in one's stated preferences? Specifically, does it make sense to avoid any positive probability of a negative outcome, no matter how small? Or, if a decision maker states such a zero risk policy, does she mean what she says? ...
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作者：Gomes, Renato; Mantovani, Andrea
作者单位：Universite de Toulouse; Universite Toulouse 1 Capitole; Toulouse School of Economics; Central Bank of Brazil
摘要：Online intermediaries greatly expand consumer information, but also raise sellers' marginal costs by charging high commissions. To prevent disintermediation, some platforms adopted price parity and anti-steering provisions, which restrict sellers' ability to use alternative sales channels. Whether to uphold, reform, or ban these provisions has been at the center of the policy debate, but, so far, little consensus has emerged. As an alternative, this paper studies how to cap platforms' commissi...
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作者：[Anonymous]
摘要：I examine the macroeconomic effects of two EU regional structural funds. The European regional development fund (ERDF) has positive short term average consequences, but gains typically dissipate within 3 years. The European Social Fund has insignificant average short term effects, but the medium term effect is positive and economically important. There are regional heterogeneities in terms of location, level of development, EU tenure, Euro area membership, and national borders. The reaction of...
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作者：Braga, Breno; Malkova, Olga
作者单位：Urban Institute; University of Kentucky
摘要：As children transition to adulthood, do they remain a major determinant of parental labor supply? To answer this question, we examine how college costs affect the labor supply of mothers and fathers by exploiting the roll-out of nine generous state merit aid programs in the United States from 1993 to 2004, which made college more affordable. Mothers of college-age children decreased their annual hours of work after the introduction of these state-wide programs, while fathers did not adjust the...
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作者：Epper, Thomas F.; Fehr-Duda, Helga
作者单位：IESEG School of Management; Centre National de la Recherche Scientifique (CNRS); CNRS - Institute for Humanities & Social Sciences (INSHS); Universite de Lille; University of Zurich
摘要：Standard economic models view risk taking and time discounting as two independent dimensions of decision making. However, mounting experimental evidence demonstrates striking parallels in patterns of risk taking and time discounting behavior and systematic interaction effects, which suggests that there may be common underlying forces driving these interactions. Here, we show that the inherent uncertainty associated with future prospects together with individuals' proneness to probability weigh...
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作者：Alfaro, Laura; Bloom, Nick; Conconi, Paola; Fadinger, Harald; Legros, Patrick; Newman, Andrew F.; Sadun, Raffaella; Van Reenen, John
作者单位：Harvard University; Stanford University; University of Oxford; University of Mannheim; Boston University; University of London; London School Economics & Political Science
摘要：We jointly study firm boundaries and the allocation of decision rights within them by confronting an incomplete-contracts model with data on vertical integration and delegation for thousands of firms around the world. Integration has an option value: it confers authority to delegate or centralize decision rights, depending on who can best solve problems that arise in the course of an uncertain production process. In line with the model's predictions, we find that firms are more likely to integ...
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作者：Szucs, Ferenc
作者单位：Stockholm University
摘要：This paper investigates the consequences of bureaucratic discretion in public procurement. I exploit a Hungarian policy reform, which allows a high-discretion procedure below a certain contract value. At the threshold, I document large discontinuities both in procurement outcomes and in the density of contract values, which indicates that buyers manipulate contract values to avoid auctions. I combine the reform and a structural model to find that discretion increases prices and results in the ...
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作者：Agranov, Marina; Dasgupta, Utteeyo; Schotter, Andrew
作者单位：California Institute of Technology; Fordham University; New York University
摘要：We study, both theoretically and experimentally, a communication game with and without seller competition and embed it in a psychological-game framework where players experience costs for lying, misleading others, and being disappointed. We derive the equilibrium predictions of this model, compare them to the setting without psychological payoffs, and test these predictions in a laboratory experiment, in which we induce both material and psychological payoffs. We find that the setting in which...
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作者：Rossi, Pauline; Xiao, Yun
作者单位：Institut Polytechnique de Paris; ENSAE Paris; Ecole Polytechnique; University of Gothenburg
摘要：This article uses China's family planning policies to quantify and explain spillovers in fertility decisions. We test whether ethnic minorities decreased their fertility in response to the policies, although only the majority ethnic group, the Han Chinese, were subject to birth quotas. We exploit the policy rollout and variation in pre-policy age-specific fertility levels to construct a measure of the negative shock to Han fertility. Combining this measure with variation in the local share of ...
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作者：Duernecker, Georg; Herrendorf, Berthold; Valentinyi, Akos
作者单位：Goethe University Frankfurt; Arizona State University; Arizona State University-Tempe; University of Manchester; Corvinus University Budapest
摘要：In his seminal work, Baumol observed that developed economies suffer from cost disease, i.e., aggregate productivity growth falls because structural change reallocates production to services with low productivity growth. We document that cost disease importantly contributed to the productivity growth slowdown in the postwar U.S. To assess how severe cost disease may become, we build a model of structural change among the goods sector and broad services sectors. Calibrating the model to the pos...
