Economics
The triple difference causal inference framework is an extension of the well-known difference-in-differences framework. It relaxes the parallel trends assumption of the difference-in-differences framework through leveraging data from an…
We study the robust regulation of contracts in moral hazard problems. A firm offers a contract to incentivise a worker protected by limited liability. A regulator restricts the set of permissible contracts to (i) improve efficiency and (ii)…
This paper studies how a large increase in the price level is transmitted to the real economy through firm balance sheets. Using newly digitized macro- and micro-level data from the German inflation of 1919-1923, we show that inflation led…
Empirical research typically involves a robustness-efficiency tradeoff. A researcher seeking to estimate a scalar parameter can invoke strong assumptions to motivate a restricted estimator that is precise but may be heavily biased, or they…
Fairness and interpretability play an important role in the adoption of decision-making algorithms across many application domains. These requirements are intended to avoid undesirable group differences and to alleviate concerns related to…
Completeness and transitivity are standard rationality conditions in economics. However, under ambiguity, decision makers sometimes violate these requirements because of the difficulty of forming accurate predictions about ambiguous events.…
As platforms increasingly deploy robots alongside human labor in last-mile logistics, little is known about how contextual features like product attributes, environmental conditions, and psychological mechanisms shape consumer preference in…
This paper estimates the effect of Hurricane Harvey on wages and employment in the construction labor industry across impacted counties in Texas. Based on data from the Quarterly Census of Employment and Wages (QCEW) for the period…
This paper studies high-dimensional curve time series with common stochastic trends. A dual functional factor model structure is adopted with a high-dimensional factor model for the observed curve time series and a low-dimensional factor…
This paper studies a matching problem in which a group of agents cooperate with agents on two sides. In environments with either nontransferable or transferable utilities, we demonstrate that a stable outcome exists when cooperations…
What is the best macroprudential regulation when households differ in their exposure to profits from the financial sector? To answer the question, I study a real business cycle model with household heterogeneity and market incompleteness.…
Background: It is unclear what the relative impacts of prevention or treatment of NCDs are on future health system expenditure. First, we estimated expenditure in Australia for prevention vs treatment pathways to achieve SDG target 3.4.…
This paper develops an economic model of the Open Source Intelligence (OSINT) attention economy in contemporary armed conflict. We conceptualize attention (e.g. social media views, followers, likes) as revenue, and time and risk spent in…
In the mid-1990s, the concept of smart growth emerged in the United States as a critical response to the phenomenon of suburban sprawl. To promote sustainable urban development, it is necessary to further investigate the principles and…
Proponents of Condorcet voting face the question of what to do in the rare case when no Condorcet winner exists. Recent work provides compelling arguments for the rule that should be applied in three-candidate elections, but already with…
We characterize incentive compatible mechanisms in environments with hidden types and flexible hidden actions. Our approach introduces extended recommendation schedules that specify prescribed actions also off-path, after misreports. This…
Large Language Models (LLMs) are increasingly used in decision-making scenarios that involve risk assessment, yet their alignment with human economic rationality remains unclear. In this study, we investigate whether LLMs exhibit risk…
This paper investigates strategic investments needed to mitigate transition risks, particularly focusing on sectors significantly impacted by the shift to a low-carbon economy. It emphasizes the importance of tailored sector-specific…
I propose the new axiom of Indifferent Points (IP) that can replace continuity axioms in classical expected utility representations under the Independence Axiom over a finite set of prices. IP asserts the existence of a set of indifferent…
We study inference on the optimal welfare in a policy learning problem and propose reporting a lower confidence band (LCB). A natural approach to constructing an LCB is to invert a one-sided t-test based on an efficient estimator for the…