Economics

I propose a new approach to solving standard screening problems when the monotonicity constraint binds. A simple geometric argument shows that when virtual values are quasi-concave, the optimal allocation can be found by appropriately…

Monotonicity and recursivity are central assumptions in intertemporal consumption problems under ambiguity. We show that monotone recursive preferences admit both a recursive and an ex-ante representation, and that the certainty equivalent…

Many economic environments involve units linked by a network. I develop an econometric framework that derives the dynamics of cross-sectional variables from the lagged innovation transmission along bilateral links and that can accommodate…

The local projection-instrumental variable (LP-IV) literature has been largely silent on cases in which impulse responses are set-identified, arising when the shock of interest is composite and instruments are correlated with multiple…

Estimation and inference procedures for synthetic control methods often do not allow for the existence of spillover effects, which are plausible in many applications. In this paper, we consider estimation and inference for synthetic control…

We examine the new production function developed by Chilarescu, and prove that under certain restrictions, the values of the elasticity can also be less than one. We will also prove that under certain restrictions on the parameters, the…

This study introduces a novel framework to model cost overruns associated with four key stakeholders in nuclear power plant construction: equipment suppliers, construction subcontractors, the design and management team, and creditors. The…

We investigate whether risk and time preferences differ when individuals make decisions for others compared to making decisions for themselves. We introduce a novel ``skin in the game'' experimental design, where choices for others incur a…

In this paper I derive a set of testable implications for econometric models defined by three assumptions: (i) the existence of strictly exogenous discrete instruments, (ii) restrictions on how the instruments affect adoption of a finite…

A recent Douglas fir management investigation is repeated in terms of accounting measures. The rotation times become much shorter than in earlier results. Thinnings do not become feasible, provided the thinning effects on the volumetric…

This article examines the law of the tendency of the rate of profit to fall in the Spanish economy between 1960 and 2024, considering the organic composition of capital and the rate of surplus value as central variables. Its aim is to…

Blockchain-based smart contracts offer a new take on credible commitment, where players can commit to actions in reaction to actions of others. Such reaction-function games extend on strategic games with players choosing reaction functions…

We study the design of information acquisition games-environments where a designer contracts their action on Sender's choice of experiment and the realized signals about some state-and identify which predictions can be made absent knowledge…

Semidiscrete optimal transport is a challenging generalization of the classical transportation problem in linear programming. The goal is to design a joint distribution for two random variables (one continuous, one discrete) with fixed…

How do authoritarian regimes strengthen global support for nondemocratic political systems? Roughly half of the users of the social media platform TikTok report getting news from social media influencers. Against this backdrop,…

We estimate the national social cost of carbon using a recent meta-analysis of the total impact of climate change and a standard integrated assessment model. The average social cost of carbon closely follows per capita income, the national…

We study how radiologists use AI to diagnose pulmonary embolism (PE), tracking over 100,000 scans interpreted by nearly 400 radiologists during the staggered rollout of a real-world FDA-approved diagnostic platform in a hospital system.…

This paper examines a competition game whose key variables are the R&D efforts (e.g. R&D expenditures) and accumulated knowledge of firms located in a specific region. The most significant element of accumulated knowledge is knowledge…

We introduce a novel model for time-varying, asymmetric, tail-dependent copulas in high dimensions that incorporates both spectral dynamics and regularization. The dynamics of the dependence matrix' eigenvalues are modeled in a score-driven…

We inspect how accurate machine learning (ML) is at forecasting realized variance of the Dow Jones Industrial Average index constituents. We compare several ML algorithms, including regularization, regression trees, and neural networks, to…