Accepted Papers

A Network Solution to Robust Implementation: the Case of Identical but Unknown Distributions

19 December 2022

Mariann Ollár and Antonio Penta

We study robust mechanism design in environments in which agents commonly believe that others’ types are identically distributed, but we do not assume that the actual distribution is common knowledge, nor that it is known to the designer.

More than a Penny’s Worth: Left-Digit Bias and Firm Pricing

13 December 2022

Avner Strulov-Shlain, University of Chicago, Booth School of Business

Firms arguably price at 99-ending prices because of left-digit bias—the tendency of consumers to perceive a $4.99 as much lower than a $5.00. Analysis of retail scanner data on 3500 products sold by 25 US chains provides robust support for this explanation.

Unemployment Insurance in Macroeconomic Stabilization

12 December 2022

Rohan Kekre, Chicago Booth and NBER

I study unemployment insurance (UI) in general equilibrium with incomplete markets, search frictions, and nominal rigidities.

Stratification Trees for Adaptive Randomization in Randomized Controlled Trials

12 December 2022

Max Tabord-Meehan, University of Chicago

This paper proposes an adaptive randomization procedure for two-stage randomized controlled trials. The method uses data from a first-wave experiment in order to determine how to stratify in a second wave of the experiment, where the objective is to minimize the variance of an estimator for the average treatment effect (ATE).

Save, Spend or Give? A Model of Housing, Family Insurance, and Savings in Old Age

12 December 2022

Daniel Barczyk, Sean Fahle, and Matthias Kredler

How do housing and family shape the savings, spending, and inter-generational transfer behavior of the elderly?

Hazed and Confused: The Effect of Air Pollution on Dementia

4 December 2022

Kelly C. Bishop, Jonathan D. Ketcham, and Nicolai V. Kuminoff

We study whether long-term cumulative exposure to airborne small particulate matter (PM2.5) affects the probability that an individual receives a new diagnosis of Alzheimer’s disease or related dementias.

“Since You’re So Rich, You Must Be Really Smart”: Talent, Rent Sharing, and the Finance Wage Premium

4 December 2022

Michael J. Böhm, Daniel Metzger, and Per Strömberg

Financial sector wages have increased extraordinarily over the last decades. We address two potential explanations for this increase: (1) rising demand for talent and (2) firms sharing rents with their employees.

Learning from Neighbors about a Changing State

9 November 2022

Krishna Dasaratha, Benjamin Golub, and Nir Hak

Agents learn about a changing state using private signals and their neighbors’ past estimates of the state. We present a model in which Bayesian agents in equilibrium use neighbors’ estimates simply by taking weighted sums with time-invariant weights.

The Review of Economic Studies Follow

The official account of the Review of Economic Studies, one of the world's top economics journals.

"A new method for identifying and estimating consumer preferences when choice sets are constrained due to selection or search, but are not observed"

New paper by Agarwal & Somaini:

https://www.restud.com/demand-analysis-under-latent-choice-constraints/

#econtwitter #REStud

Reply on Twitter 1980556150312509620 Retweet on Twitter 1980556150312509620 20 Like on Twitter 1980556150312509620 90 Twitter 1980556150312509620

Cities surrounded by expensive farmland are denser and agricultural productivity growth has lowered urban density over time in France. Our multi-region structural change framework can explain it.

New paper by Coeurdacier, @teignier & @FlorianOswald

https://www.restud.com/structural-change-land-use-and-urban-expansion/

Reply on Twitter 1978007904528502887 Retweet on Twitter 1978007904528502887 21 Like on Twitter 1978007904528502887 78 Twitter 1978007904528502887

🏠Transaction taxes don’t just cool housing—they reshape it. Same rate, different impact: investors buy more, households less. Result: lower ownership and welfare losses of 111% of tax revenue.

New paper from Han, Ngai & Sheedy:

https://www.restud.com/to-own-or-to-rent-the-effects-of-transaction-taxes-on-housing-markets/

#econtwitter #REStud

Reply on Twitter 1977676717876805904 Retweet on Twitter 1977676717876805904 9 Like on Twitter 1977676717876805904 33 Twitter 1977676717876805904

Slum upgrading is a common policy to help residents, but it can delay redevelopment into formal neighborhoods. Evidence from the largest program highlights the tradeoff: central upgrading can entail long-run opportunity costs.

New paper by Harari & Wong:
https://www.restud.com/slum-upgrading-and-long-run-urban-development-evidence-from-indonesia/

Reply on Twitter 1977674365132227022 Retweet on Twitter 1977674365132227022 10 Like on Twitter 1977674365132227022 32 Twitter 1977674365132227022

A Network Solution to Robust Implementation: the Case of Identical but Unknown Distributions

More than a Penny’s Worth: Left-Digit Bias and Firm Pricing

Unemployment Insurance in Macroeconomic Stabilization

Stratification Trees for Adaptive Randomization in Randomized Controlled Trials

Save, Spend or Give? A Model of Housing, Family Insurance, and Savings in Old Age

Hazed and Confused: The Effect of Air Pollution on Dementia

“Since You’re So Rich, You Must Be Really Smart”: Talent, Rent Sharing, and the Finance Wage Premium

Learning from Neighbors about a Changing State

Follow us