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The Review of Economic Studies is one of the most highly respected academic journals in the field of economics. It is known for publishing leading research in all areas of economics, from microeconomics to macroeconomics. The journal is published by the Oxford University Press.

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New

The Selective Disclosure of Evidence: An Experiment

3 July 2026

Agata Farina, Guillaume Fréchette, Alessandro Ispano, Alessandro Lizzeri, and Jacopo Perego

We conduct an experimental analysis of selective disclosure in communication. In the model, an informed sender aims to influence a receiver by disclosing verifiable evidence that is selected from a larger pool of available evidence. Our experimental design leverages this model’s rich comparative statics, allowing us to systematically quantify the effects of selection relative to concealment.

New

Smooth Diagnostic Expectations

3 July 2026

Francesco Bianchi, Cosmin Ilut, Hikaru Saijo

We show that the formalization of representativeness (Kahneman and Tversky (1972)) developed by Gennaioli and Shleifer (2010) features an intrinsic connection between uncertainty and overreaction. In the time series domain, we develop this connection in a smooth version of Diagnostic Expectations (DE), where overreaction varies smoothly with uncertainty.

New

When is Separate Sales Optimal?

1 July 2026

Changhyun Kwak

This paper studies a multi-product monopolist facing a privately informed consumer with additive and type-increasing valuations. Separate monopoly pricing is robustly optimal with respect to the type distribution if and only if the marginal rate of substitution between each pair of goods is monotone.

New

How Do People React to Income-Based Fines? Evidence from Speeding Tickets Discontinuities

26 June 2026

Martti Kaila

This paper studies the impact of income-based criminal punishments on crime. In Finland, speeding tickets become income-dependent if the driver’s speed exceeds the speeding limit by more than 20 km/h, leading to a substantial jump in the size of the speeding ticket. Contrary to predictions of a traditional Becker model, individuals do not bunch below the fine hike.

New

College, cognitive ability, and socioeconomic disadvantage: policy lessons from the UK in 1960-2004

26 June 2026

Andrea Ichino, Aldo Rustichini, and Giulio Zanella

University access has significantly expanded in OECD countries, and further growth figures prominently in political agendas. We study possible consequences of historical and future expansions in a stochastic, general equilibrium Roy model where tertiary educational attainment is determined by cognitive ability and socioeconomic disadvantage.

New

Subjective Earnings Risk

26 June 2026

Andrew Caplin, Victoria Gregory, Eungik Lee, Søren Leth-Petersen, and Johan Sæverud

We introduce a survey instrument to measure earnings risk allowing for the possibility of quitting or being fired from the current job. We find these transitions to be the key drivers of subjective risk. A link with administrative data provides multiple credibility checks and reveals that subjective earnings risk varies systematically across the population.

New

Optimal Policy Rules in HANK

22 June 2026

Alisdair McKay and Christian K. Wolf

We characterize optimal policy rules in a business-cycle model with nominal rigidities and heterogeneous households. The policymaker has access to two instruments: the short-term nominal rate, and lump-sum transfer payments. A policymaker with a traditional dual mandate that targets aggregates uses the same policy rule as is optimal in the textbook New Keynesian model.

New

Skill-Replacing Technology and Bottom-Half Inequality

22 June 2026

Oren Danieli

I propose a model of skill-replacing routine-biased technological change (SR-RBTC). In this model, technology substitutes for the use of skill in routine tasks, in contrast to standard RBTC models, which assume that technology replaces the workers themselves.

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Buyers often make choices between differentiated products and negotiate prices specific to the choice. This paper specifies a model for this setting and estimates it on transactions data for the UK brick market.

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The Review of Economic Studies

The Review was founded in 1933 by a group of Economists from leading UK and US departments. It is now managed by European-based economists.

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The Review of Economic Studies
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