Economics
In centralized assignment problems, agents may have preferences over joint rather than individual assignments, such as couples in residency matching or siblings in school choice and daycare. Standard preference estimation methods typically…
Signaling is wasteful. But how wasteful? We study the fraction of surplus dissipated in a separating equilibrium. For isoelastic environments, this waste ratio has a simple formula: $\beta/(\beta+\sigma)$, where $\beta$ is the benefit…
This paper considers quantile-welfare evaluation of social welfare as an alternative to utilitarian evaluation. Manski (1988) originally proposed and studied maximization of quantile utility as a model of individual decision making under…
A robust thermodynamic relation between inflation corrected monetary valuation and energy emerges from existing work. This is based on the energy used, the aggregate efficiency of all production processes ($\Lambda(t)$) in terms of Joules…
Post-growth has emerged as an umbrella term for various sustainability visions that advocate the pursuit of environmental sustainability, social equity, and human wellbeing, while questioning the continued pursuit of economic growth.…
Generative AI is transforming higher education, yet systematic evidence on student adoption, usage patterns, and perceived learning impacts remains scarce. Using survey data from a selective U.S. college, we document rapid generative-AI…
We extend Kuhn's Theorem to games of the extensive form with unawareness. We prove that if a game of the extensive form with unawareness has perfect recall, then for each mixed strategy there is an equivalent behavior strategy. We show that…
The breaching of planetary boundaries and the potentially catastrophic consequences of climate change are leading researchers to question the endless pursuit of economic growth. Several macroeconomic modelling studies have now examined…
Land use is a critical factor in the siting of renewable energy facilities and is often scrutinized due to perceived conflicts with other land demands. Meanwhile, substantial areas are devoted to activities such as golf, which are…
A policymaker often wants to steer a decision-maker toward one of two actions, but lacks reliable knowledge of how the decision-maker perceives uncertainty or evaluates risk. We formalize a notion of robust paternalism: a modification a' of…
We analyze how firms should design wage contracts when workers collaborate in teams and effort costs depend on colleagues through a peer network. Performance-based compensation generates incentives that cascade through the organization,…
We study the design of an auction for an income-generating asset such as an intellectual property license. Each bidder has a signal about his future income from acquiring the asset. After the asset is allocated, the winner's income from the…
We identify the distributional and quantile marginal treatment effect functions when the outcome is right-censored. Our method requires a conditionally exogenous instrument and random censoring. We propose asymptotically consistent…
Doubly robust (DR) estimators guard against model misspecification but remain sensitive to weak covariate overlap. We show that trimming propensity scores reduces variance but eliminates double robustness. We introduce DR estimators that…
Lithium is a critical material for the energy transition, but conventional procurement methods have significant environmental impacts. In this study, we utilize regional energy system optimizations to investigate the techno-economic…
An updating rule specifies how an agent reacts to information. An updating rule is Blackwell monotone if more information is always better for an agent in a decision problem and strictly Blackwell monotone if, in addition, there is always a…
Recent global events emphasize the importance of a reliable energy supply. One way to increase energy supply security is through decentralized off-grid renewable energy systems, for which a growing number of case studies are researched.…
We study what changes to an agent's decision problem increase her value for information. We prove that information becomes more valuable if and only if the agent's reduced-form payoff in her belief becomes more convex. When the…
Increases in national concentration have been a salient feature of industry dynamics in the U.S. and have contributed to concerns about increasing market power. Yet, local trends may be more informative about market power, particularly in…
The rapid uptake of renewable energy technologies in recent decades has increased the demand of energy researchers, policymakers and energy planners for reliable data on the spatial distribution of their costs and potentials. For onshore…