综合经济学
This paper studies firms' optimal response to a trade liberalization shock in terms of export and product innovation both theoretically and empirically. We find that trade liberalization, namely China's WTO accession, reduces trade cost and…
This paper examines how age at migration affects cultural assimilation by studying convergence in gender role attitudes between immigrants and the UK-born population. Although cultural values are central to policy debates about integration…
Scientific innovation often comes from researchers who pivot across disciplines. However, prior work found that established researchers face productivity penalties when pivoting. Here, we investigate the consequences of pivoting at the…
How do entrepreneurs act on their beliefs when probabilities of outcomes are unknown but subjectively perceived? We theorize that two distinct dimensions of ambiguity attitudes influence entrepreneurial action: ambiguity aversion - the…
How much macroeconomic information is contained in a single input-output table? We feed FIGARO 64-sector symmetric tables into DEPLOYERS, a Darwinian agent-based simulator, producing genuine out-of-sample GDP forecasts. For each year, the…
The payback period is unambiguously defined for conventional investment projects, projects in which a series of cash outflows is followed by a series of cash inflows. Its definition for nonconventional projects is more challenging, since…
When designing product rankings, online retailers and platforms choose which outcome to maximize: revenues from commissions or markups, the number of transactions, or consumer welfare. These objectives need not align, creating potential…
We study how a first heart-failure hospitalization, an adverse health shock, changes patients' care, and whether a nurse-led chronic-care program sustains those post-shock investments. Using linked population-wide administrative records…
This survey (re)introduces reinforcement learning methods to economists. The curse of dimensionality limits how far exact dynamic programming can be effectively applied, forcing us to rely on suitably "small" problems or our ability to…
The foundation model industry exhibits unprecedented concentration in critical inputs: semiconductors, energy infrastructure, elite talent, capital, and training data. Despite extensive sectoral analyses, no comprehensive framework exists…
As the development and use of artificial intelligence (AI) continues to grow, policymakers are increasingly grappling with the question of how to regulate this technology. The most far-reaching international initiative is the European Union…
We study the associations between everyday economic decision-making quality and people's emotional states. Using high-frequency, highly disaggregated consumer "scanner" data, we show that the cost of poor decision-making is substantial, on…
This paper investigates the barriers to gender convergence using Japan as a salient environment to explore the interactive effects of labor market structures and social norms. I develop a quantitative model of household labor supply where…
The Nobel Memorial Prize in Economics has been awarded annually since 1969. Who wins the prize is a topic of much interest and tracks the whole course of the academic discipline over the last 57 years. Explaining who wins the prize in any…
We study the causes and consequences of bank runs using a novel dataset of bank runs in the United States from 1863 to 1934. Applying large language models to historical newspapers, we identify 3,421 runs on individual banks. The resulting…
Integrating electric mobility, including electric vehicles (EVs), electric trucks (ETs), and renewable energy sources (RES) with the power grid is paramount for decarbonization, efficiency, and stability. A critical gap remains, however:…
We investigate the impact of judges' gender on the outcome of domestic violence cases. Using data from S\~ao Paulo, Brazil, between 2011 and 2019, we find that a domestic violence case assigned to a female judge is 28% (9.7 p.p.) more…
Flexibility is a cornerstone of operations management, crucial to hedge stochasticity in product demands, service requirements, and resource allocation. In two-sided platforms, flexibility is also two-sided and can be viewed as the…
Algorithms increasingly automate bidding in online auctions, raising concerns about tacit bid suppression and revenue shortfalls. Prior work identifies individual mechanisms behind algorithmic bid suppression, but it remains unclear which…
This paper studies how platform design shapes strategic behavior in decentralized electricity trading. We develop a finite-horizon dynamic game in which photovoltaic- and battery-equipped players ("prosumers") trade on a platform that maps…