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作者：Chen, Chia-Hui; Ishida, Junichiro; Suen, Wing
作者单位：Kyoto University; University of Osaka; University of Hong Kong
摘要：High-ability agents are more likely to achieve early success in risky experimentation, but learn faster that their project is not promising. These counteracting effects give rise to a signaling model with double-crossing property. This property tends to induce homogenization of quitting times between types, which in turn leads to some pooling in equilibrium. Low-ability agents may hold out to continue their project for the prospect of pooling with the high type, despite having a negative insta...
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作者：Goette, Lorenz; Tripodi, Egon
作者单位：University of Bonn; National University of Singapore; University of Essex
摘要：We propose a novel experiment that prevents social learning, thus allowing us to disentangle the underlying mechanisms of social influence. Subjects observe their peer's incentives, but not their behavior. We find evidence of conformity: When individuals believe that incentives make others contribute more, they also increase their contributions. Conformity is driven by individuals who feel socially close to their peer. However, when incentives are not expected to raise their peer's contributio...
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作者：Kopp, Daniel; Siegenthaler, Michael
作者单位：Swiss Federal Institutes of Technology Domain; ETH Zurich
摘要：We study whether the Swiss short-time work (STW) program reduced unemployment in and after the Great Recession using quarterly establishment-level panel data linking administrative data sources. We compare changes in layoffs into unemployment, employment, and establishment survival between establishments that applied successfully and establishments that applied unsuccessfully for STW at cantonal employment agencies. The unsuccessful establishments provide a valid counterfactual for the success...
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作者：Blattman, Christopher; Green, Donald P.; Ortega, Daniel; Tobon, Santiago
作者单位：University of Chicago; Columbia University; Universidad EAFIT
摘要：In 2016, the city of Bogota doubled police patrols and intensified city services on high-crime streets. They did so based on a criminological consensus that such place-based programs not only decrease crime, but also have beneficial spillovers for nearby streets. To test this, we worked with Bogota to experiment on an unprecedented scale. We randomly assigned 1,919 streets to either 8 months of doubled police patrols, greater municipal services, both, or neither. Such scale brings econometric ...
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作者：Lorentzon, Louise; Pettersson-Lidbom, Per
作者单位：Stockholm University
摘要：This paper estimates the causal effect of a historical midwifery policy experiment on maternal mortality, infant mortality, and stillbirth during the period of 1830-1894 in Sweden. Exploiting sharp changes or discontinuities across time and place in the availability of trained and licensed midwives as an exogenous source of variation, we find that a doubling of trained midwives led to a 20%-40% reduction in maternal mortality and a 20% increase in the uptake of midwife-assisted homebirths. The...
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作者：Imas, Alex; Loewenstein, George; Morewedge, Carey K.
作者单位：University of Chicago; Carnegie Mellon University; Boston University
摘要：People exploit flexibility in mental accounting to relax psychological constraints on spending. Four studies demonstrate this in the context of moral behavior. The first study replicates prior findings that people donate more money to charity when they earned it through unethical versus ethical means. However, when the unethically earned money is first laundered-the cash is physically exchanged for the same amount but from a different arbitrary source-people spend it as if it was earned ethica...
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作者：Yu, Pei Cheng
摘要：This paper incorporates quasi-hyperbolic discounting into a Mirrlees taxation model to study the design of retirement policies for present-biased agents. I show that the government can improve the screening of productivity by exploiting time inconsistency. This is done by providing commitment to sophisticated agents and taking advantage of the incorrect beliefs of naive agents. This can be achieved even if the degrees of present bias and sophistication are private information. I also demonstra...
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作者：Nistic, Salvatore
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作者：Saporta-Eksten, Itay; Shurtz, Ity; Weisburd, Sarit
作者单位：Tel Aviv University; Ben-Gurion University of the Negev
摘要：We study the effects of public pension systems on the retirement timing of older workers and, in turn, the health consequences of delaying retirement by those workers. Causal inference relies on a social security reform in Israel that shifted payments from husbands to their (nonworking) wives, thereby substantially reducing the implied tax on the husband's employment while keeping overall household wealth constant. Using administrative social security data, we estimate extensive-margin labor s...
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作者：Ellison, Martin; Tischbirek, Andreas
作者单位：University of Oxford; University of Lausanne
摘要：A novel decomposition highlights the scope for information to influence the term structure of interest rates. Based on the law of total covariance, we show that real term premia in macroeconomic models contain a component that depends on covariances of realised stochastic discount factors and a component that depends on covariances of expectations of those stochastic discount factors. The covariance of expectations is typically low in macrofinance models, which contributes to the real term pre...
