Economics

In priority-based matching, serial dictatorship (SD) is simple, strategyproof, and Pareto efficient, but not free of justified envy (i.e. fair). This paper studies how to fairly order agents in SD as a function of their priorities. I show…

This paper develops a nonlinear theoretical framework to analyze the dynamics of public expenditure reallocation in Uruguay. Motivated by recent debates on fiscal reform and expenditure efficiency, the paper models fiscal adjustment as a…

Task-based models of AI and labor hold organizational structure fixed. We introduce agent capital: AI that reduces coordination costs, expanding spans of control and enabling endogenous task creation. Five propositions characterize how…

Nonparametric regression and regression-discontinuity designs suffer from smoothing bias that distorts conventional confidence intervals. Solutions based on robust bias correction (RBC) are now central to the economist's toolbox. In this…

We study linear regression models with clustered data, high-dimensional controls, and intricate exclusion restrictions. We propose a correctly centered internal instrument IV estimator that accommodates a broad class of exclusion…

Many economic parameters are identified by ``thin sets'' (submanifolds with Lebesgue measure zero) and hence difficult to recover from data in an ambient space. This paper provides a unified theory for estimation and inference of such…

We study the monotonicity of information costs: more informative experiments must be more costly. As criteria for informativeness, we consider the standard information orders introduced by Blackwell (1951, 1953) and Lehmann (1988). We…

We conduct experiments with algorithmic pricing agents based on Large Language Models (LLMs). In oligopoly settings, LLM-based pricing agents quickly and autonomously reach supracompetitive prices and profits. Variation in seemingly…

Through the reinterpretation of housing data as candlesticks, we extend Nature Scientific Reports' article by Liang and Unwin [LU22] on stock market indicators for COVID-19 data, and utilize some of the most prominent technical indicators…

We study how idiosyncratic firm-level shocks generate aggregate volatility and tail risk when they propagate through a production network under overlapping adjustment: new productivity draws arrive before the economy reaches the static…

This paper analyses how firms' skill development strategies affect their propensity to introduce innovation. We develop an adjustment-cost framework that links human capital theory and institutionalist and evolutionary approaches,…

This paper studies patenting trends in artificial intelligence (AI) and robotics from 1980 to 2019. We introduce a novel distinction between traditional robotics and robotics embedding AI functionalities. Using patent data and a time-series…

Structural break identification methods are an important tool for evaluating the effectiveness of climate change mitigation policies. In this paper, we introduce a unified probabilistic framework for detecting structural breaks with unknown…

Latin America's education systems are fragmented and segregated, with substantial differences by school type. The concept of school efficiency (the ability of school to produce the maximum level of outputs given available resources) is…

The learning crisis in the Latin American region (i.e., higher rates of students not reaching basic competencies at secondary level) is worrying, particularly post-pandemic given the stronger role of inequality behind achievement. Within…

We investigate whether and why people might adjust compensation for workers who use AI tools. Across 13 studies (N = 4,956), participants consistently lowered compensation for workers who used AI compared to those who did not. This "AI…

The United States leads the world in the number of mass shootings that occur each year, even as policy making on firearms remains polarized along party lines. In the face of increasing violence and public demand for policy action, we ask…

The aim of the research paper is to understand the sustainability challenges faced by resorts mainly luxury in Maldives and to implement the sustainable tourism practices. The Maldives economy is dependent mostly on the fishing, boat…

This paper studies a linear model for multidimensional panel data of three or more dimensions with unobserved interactive fixed-effects. The main estimator uses a Neyman-orthogonal approach, and requires two preliminary steps. First, the…

The theory of Monotone Comparative Statics (MCS) has traditionally required a lattice structure, excluding certain multidimensional environments such as mixed-strategy games where this property fails. We show that this structure is not…