Economics
This paper develops a unifying theory of peer effects that treats the peer aggregator (the social norm mapping peers' actions into a scalar exposure) as the central behavioral primitive. We formulate peer influence as a norm game in which…
This paper develops inference methods for ratios of deterministic trend slopes in systems of pairs of time series. Hypotheses based on linear cross-equation restrictions are considered with particular interest in tests that trend ratios are…
We construct a stochastic dynamical systems theory in which sustainability is a structural boundary property of a fully coupled Earth--Human--Production system. Each subsystem is modelled as a vector-valued process governed by stochastic…
In this paper, we characterize the extreme points of a class of multidimensional monotone functions. This result is then applied to large contests, where it provides a useful representation of optimal allocation rules under a broad class of…
I consider an environment in which a decision maker faces uncertainty and privately holds information in the form of a signal about the true state of the world. The decision maker purchases additional information from a data broker before…
This paper studies nonparametric local (over-)identification and the semiparametric efficiency in modern causal frameworks. We develop a unified approach that begins by translating structural models with latent variables into their induced…
We study how increases in remote work opportunities for men affect their spouses' labor supply. Exploiting variation in the change in work-from-home (WFH) exposure across occupations before and after the COVID-19 pandemic, we find that…
We propose a method for defining, identifying, and estimating the marginal treatment effect (MTE) without imposing the instrumental variable (IV) assumptions of independence, exclusion, and separability (or monotonicity). Under a new…
How does transport cost affect the spatial organization of economic activities? This study develops a theoretical framework that distinguishes between two types of dispersion forces in spatial models: "local" dispersion forces acting within…
We re-examine the traditional Mean-Squared Error (MSE) forecasting paradigm by formally integrating an accuracy-timeliness trade-off: accuracy is defined by MSE (or target correlation) and timeliness by advancement (or phase excess). While…
This paper embeds a signaling friction into the continuous-time heterogeneous agent framework. A continuum of producers operate Cobb-Douglas technologies with regime-specific productivity $A_j \in \{A_L, A_H\}$. Stochastic arrival of…
We present an entirely new physics founded approach to estimating the social cost of carbon (SCC). For this, we developed our Ocean-Heat-Content Physics and Time Macro Economic Model (OPTiMEM) to estimate future heat content (separately…
Despite well-meaning scenarios that propose global CO2 emissions will decline presented in every IPCC report since 1988, the trend of global CO2 increase continues without significant change. Even if any individual nation manages to flatten…
In many auctions, bidders may be reluctant to reveal private information to the auctioneer and other bidders. Among deterministic bilateral communication protocols, reducing what bidders learn requires increasing what the auctioneer learns.…
This study investigates the non-monetary rewards associated with artificial intelligence (AI) skills in the U.S. labour market. Using a dataset of approximately ten million online job vacancies from 2018 to 2024, we identify AI…
Analysis of effect heterogeneity at the group level is standard practice in empirical treatment evaluation. However, treatments analyzed are often aggregates of multiple underlying treatments which are themselves heterogeneous, e.g.…
The Swiss-system is an increasingly popular competition format as it provides a favourable trade-off between the number of matches and ranking accuracy. However, there is no empirical study on the potential unfairness of Swiss-system chess…
We study the impact of endogenous attention in a dynamic social media model. Each period, a user observes a random story and decides whether to share it. Users like sharing true and interesting stories, but identifying false stories…
Crypto donations now represent a significant fraction of charitable giving worldwide. Nonfungible token (NFT) charity fundraisers, which involve the sale of NFTs of artistic works with the proceeds donated to philanthropic causes, have…
Despite tremendous growth in the volume of new scientific and technological knowledge, the popular press has recently raised concerns that disruptive innovation is slowing. These dire prognoses were driven in part by Park et al. (2023), a…