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Congestion is a common failure mode of markets, where consumers compete inefficiently on the same subset of goods (e.g., chasing the same small set of properties on a vacation rental platform). The typical economic story is that prices…
We introduce and study a simple model for the dynamics of voting intention in a population of agents that have to choose between two candidates. The level of indecision of a given agent is modeled by its propensity to vote for one of the…
Emotion and fairness play a key role in mediating socioeconomic decisions in humans; however, the underlying neurocognitive mechanism remains largely unknown. This exploratory study unraveled the interplay between agents' emotions and the…
We calculate measures of economic complexity for US metropolitan areas for the years 2007-2015 based on industry employment data. We show that the concept of economic complexity translates well from the cross-country to the regional…
This study explores the interdependent relationship between consumer credit and consumer confidence in the United States using monthly data from January 1978 to August 2024. Utilizing a Vector Error Correction Model (VECM), the analysis…
A tailor-made internet survey experiment provides individuals with information on their income positions to examine their effects on subjective well-being. In the first survey, respondents were asked about their household income and…
A key promise of democratic voting is that, by accounting for all constituents' preferences, it produces decisions that benefit the constituency overall. It is alarming, then, that all deterministic voting rules have unbounded distortion:…
In this short article, I leverage the National Crime Victimization Survey from 1992 to 2022 to examine how income, education, employment, and key demographic factors shape the type of crime victims experience (violent vs property). Using…
How do incentive levels affect strategic behaviour? We address this with an experiment that separately identifies own- and opponent-incentive effects in two dominance-solvable games that differ in strategic complexity. Higher own incentives…
This paper provides a comprehensive examination of the evolution of credit cards in the United States, tracing their historical development, causes, consequences, and impact on both individuals and the economy. It delves into the…
We study how the general public perceives the link between monetary policy and housing markets. Using a large-scale, cross-country survey experiment in Austria, Germany, Italy, Sweden, and the United Kingdom, we examine households'…
We propose a nonparametric method for estimating the distribution of consumer welfare from cross-sectional data with no restrictions on individual preferences. First demonstrating that moments of demand identify the curvature of the…
Public perceptions of climate change arguably contribute to shaping private adaptation and support for policy intervention. In this paper, we propose a novel Climate Concern Index (CCI), based on disaggregated web-search volumes related to…
There has been much recent discussion, and some confusion, regarding the use of existing observational data to estimate the likelihood that next-generation cosmic microwave background (CMB) polarization experiments might detect a nonzero…
This paper explains why, despite a marked increase in available political information on cable television and the Internet, citizens' levels of political knowledge have, at best, remained stagnant (Delli Carpini & Keeter, 1996). Since the…
This paper examines the effects of U.S. presidential election cycles on sectoral stock markets. Using a high-frequency identification approach, I construct a novel "election shock'' series, which captures exogenous surprises in election…
We test for the long-run relationship between stock prices, inflation and its uncertainty for different U.S. sector stock indexes, over the period 2002M7 to 2015M10. For this purpose we use a cointegration analysis with one structural break…
We propose an approach to estimate how individuals' expectations influence their responses to a counterfactual change. The approach relies on average partial effects, which recover counterfactual impacts under conditions that we specify. We…
The outcome of an election depends not only on which candidate is more popular, but also on how many of their voters actually turn out to vote. Here we consider a simple model in which voters abstain from voting if they think their vote…
This paper investigates how institutional rigidities shape inflation persistence in transition economies, focusing on labor market institutions and exchange rate regimes. Using a large panel of transition countries over the period…