Economics
The purpose of this article is to explore the opportunity of recent and detailed unconventional data from the tourism sector collected from {\guillemotleft} Booking.com {\guillemotright} to make a finer and more up-to-date analysis than…
Connections are made between solution concepts for games in characteristic function form and Euler's Theorem underlying the neo-classical theory of distribution in which the total output produced is imputed to the marginal products of the…
This paper introduces economists to quantum-inspired approaches for modeling firm behavior in a Cournot Duopoly, designed for accessibility and pedagogical use. We present key quantum concepts -- superposition, entanglement, and quantum…
Time series forecasting is crucial for decision-making across various domains, particularly in financial markets where stock prices exhibit complex and non-linear behaviors. Accurately predicting future price movements is challenging due to…
We introduce a regularized Generalized Covariance (RGCov) estimator as an extension of the GCov estimator to high dimensional setting that results either from high-dimensional data or a large number of nonlinear transformations used in the…
This study explores Telehealth Parity Laws (TPLs) and their heterogeneous treatment effects by policy type on outpatient utilization and Medicare costs, considering broadband and licensure infrastructure. State-specific legislative framings…
The validity of instrumental variable (IV) designs is typically tested using two types of falsification tests. We characterize these tests as conditional independence tests between negative control variables -- proxies for unobserved…
May's Theorem [K. O. May, Econometrica 20 (1952) 680-684] characterizes majority voting on two alternatives as the unique preferential voting method satisfying several simple axioms. Here we show that by adding some desirable axioms to…
We introduce a simple and tractable methodology for estimating semiparametric conditional latent factor models. Our approach disentangles the roles of characteristics in capturing factor betas of asset returns from ``alpha.'' We construct…
The desirable gambles framework provides a foundational approach to imprecise probability theory but relies heavily on linear utility assumptions. This paper introduces function-coherent gambles, a generalization that accommodates…
We study the estimation of treatment effects using samples stratified by treatment status. Standard estimators of the average treatment effect and the local average treatment effect are inconsistent in this setting. We propose consistent…
In credence goods markets such as health care or repair services, consumers rely on experts with superior information to adequately diagnose and treat them. Experts, however, are constrained in their diagnostic abilities, which hurts market…
This report addresses challenges and opportunities for innovation in the social sciences at the University of Oxford. It summarises findings from two focus group workshops with innovation experts from the University ecosystem. Experts…
Empirical regression discontinuity (RD) studies often include covariates in their specifications to increase the precision of their estimates. In this paper, we propose a novel class of estimators that use such covariate information more…
We find that, in the 21st century, democracy has persistent negative impacts on growth in GDP and night-time light intensity. This finding emerges from five different instrumental variable strategies that account for potential invalidity in…
This paper integrates deep neural networks (DNNs) into structural economic models to increase flexibility and capture rich heterogeneity while preserving interpretability. Economic structure and machine learning are complements in empirical…
In two-sided matching market, when the regional constraints are present, the deferred acceptance (DA) algorithm suffers from undesirable inefficiency due to the artificial allocation of the regional caps among hospitals. We show that, given…
This paper investigates the dynamic complementarity between school health and education reforms implemented in Denmark between 1940 and 1965: the introduction of school doctors and the expansion of secondary education. Using a staggered…
This paper investigates the relationship between trade openness and CO2 emissions in Vietnam using the data from 1986 to 2014. We examine the consistency of the environmental Kuznets curve hypothesis (EKC) and the pollution heaven…
We study how cursedness, the tendency to neglect how other people's strategies depend on their private information, affects information transmission in Spence's job market signaling game. We characterize the Cursed Sequential Equilibrium…