Economics
We consider the optimal risk sharing problem with a continuum of agents, modeled via a non-atomic measure space. Individual preferences are not assumed to be convex. We show the multiplicity of agents induces the value function to be…
We study treatment assignment problems under capacity constraints, where a planner aims to maximize social welfare by assigning treatments based on observable covariates. Such constraints, common when treatments are costly or limited in…
With the advent of generative AI (genAI), the potential scope of artificial intelligence has increased dramatically, but the future effect of genAI on productivity remains uncertain. The effect of the technology on the innovation process is…
Equal pay laws increasingly require that workers doing "similar" work are paid equal wages within firm. We study such "equal pay for similar work" (EPSW) policies theoretically and test our model's predictions empirically using evidence…
Generative AI is a technology which depends in part on participation by humans in training and improving the automation potential. We focus on the development of an "AI twin" that could complement its creator's efforts, enabling them to…
The chemicals industry accounts for about 5% of global greenhouse gas emissions today and is among the most difficult industries to abate. We model decarbonization pathways for the most energy-intensive segment of the industry, the…
How can voters induce politicians to put forth more proximate (in terms of preference) as well as credible platforms (in terms of promise fulfillment) under repeated elections? Building on the work of Aragones et al. (2007), I study how…
We study the estimation of peer effects through social networks when researchers do not observe the entire network structure. Special cases include sampled networks, censored networks, and misclassified links. We assume that researchers can…
This paper examines monthly matching efficiency in the Japanese marriage market using novel data from IBJ, the country's largest structured matching platform. Unlike administrative or dating app data, IBJ provides full search, dating, and…
This paper introduces a newly constructed individual-level dataset of prewar Japanese elites using the ``Who's Who'' directories published in 1903-1939. Covering approximately the top 0.1\% of the population, the dataset contains rich…
Identifying structural parameters in linear simultaneous-equation models is a longstanding challenge. Recent work exploits information in higher-order moments of non-Gaussian data. In this literature, the structural errors are typically…
We estimate the short-run effects of weather-related disasters on local economic activity and cross-border spillovers that operate through economic linkages between U.S. states. To this end, we use emergency declarations triggered by…
We propose an adjusted 2SLS estimator for social network models when reported binary network links are misclassified (some zeros reported as ones and vice versa) due, e.g., to survey respondents' recall errors, or lapses in data input. We…
I model a rational agent who experiences endogenous deadline pressure in the face of a fixed future deadline. The agent holds a resource stock, and opportunities to spend resources arise randomly according to a Poisson process. When the…
This study explores how refugees' destination preferences evolve during transit, with a focus on Central and Eastern Europe, particularly Romania. Using a mixed-methods approach, we analyse data from the International Organization for…
A seller posts a price for a single object. The seller's and buyer's values may be interdependent. We characterize the set of payoff vectors across all information structures. Simple feasibility and individual-rationality constraints…
A seller sells an object over time but is uncertain how the buyer learns their willingness-to-pay. We consider informational robustness under \textit{limited commitment}, where the seller offers a price \textit{each period} to maximize…
Global comparisons of wellbeing increasingly rely on survey questions that ask respondents to evaluate their lives, most commonly in the form of "life satisfaction" and "Cantril ladder" items. These measures underpin international rankings…
This paper presents the Stata community-distributed command "opl_ma_fb" (and the companion command "opl_ma_vf"), for implementing the first-best Optimal Policy Learning (OPL) algorithm to estimate the best treatment assignment given the…
Cointegration is a property of multivariate time series that determines whether its non-stationary, growing components have a stationary linear combination. Largevars R package conducts a cointegration test for high-dimensional vector…