经济学
This article reviews the empirical evidence on the use of patent citations as a proxy for invention importance. It distinguishes between technical merit, private economic value, and social value, and surveys validation studies using expert…
Big data has exponentially dilated consumption demand and speed, but can they all be converted to utility? We argue about the measures of consumption and utility acquisition in CRRA utility function under the condition of big data…
We study dynamic delegation with reputation feedback: a long-lived expert advises a sequence of implementers whose effort responds to current reputation, altering outcome informativeness and belief updates. We solve for a recursive,…
We present a decision-theoretic justification for viewing the question of how to best choose where to experiment in order to optimize external validity as a $k$-median problem, a popular problem in computer science and operations research.…
Different proxy variables used in fiscal policy SVARs lead to contradicting conclusions regarding the size of fiscal multipliers. Our analysis suggests that the conflicting results may stem from violations of the proxy exogeneity…
The paper proposes a causal supervised machine learning algorithm to uncover treatment effect heterogeneity in sharp and fuzzy regression discontinuity (RD) designs. We develop a criterion for building an honest ``regression discontinuity…
The forecasting combination puzzle is a well-known phenomenon in forecasting literature, stressing the challenge of outperforming the simple average when aggregating forecasts from diverse methods. This study proposes a Reinforcement…
Colombia's prolonged conflict has made the country one of the most affected by forced internal displacement (FID) in the world. This study examines the impact of the FARC's 2014 unilateral and permanent ceasefire on FID. We use a…
The thesis of this essay is that, in heterogeneous agent macroeconomics, the assumption of rational expectations about equilibrium prices is unrealistic and should be replaced. Rational expectations imply that decision makers forecast…
Regional civil servants in Indonesia, especially in the eastern regions, are now required to exhibit innovative work behavior (IWB) as mandated by national regulations. While transformational leadership (TFL) and work engagement (WE) are…
Economics has long been a science of static equilibria, in which time is a second-order rather than first-order concern. Without time, economic modelers may neglect or obscure the role of time-dependent phenomena, e.g. path-dependency, and…
This paper derives a novel representation of the exponential discounting model that allows one to assess departures from the model via a measure of efficiency. The approach uses a revealed preference methodology that does not make any…
Fragmentation of matching markets is a ubiquitous problem across countries and across applications. In order to study the implications of fragmentation and possibilities for integration, we first document and discuss a variety of…
We characterize the extreme points of multidimensional monotone functions from $[0,1]^n$ to $[0,1]$, as well as the extreme points of the set of one-dimensional marginals of these functions. These characterizations lead to new results for…
This paper exploits the linkage of German administrative social security data (German: Integrierte Erwerbsbiografien) and survey data from the socio-economic panel (Sozio-\"okonomisches Panel, SOEP) for the characterization of measurement…
This paper develops a two-stage method for inference on partially identified parameters in moment inequality models with separable nuisance parameters. In the first stage, the nuisance parameters are estimated separately, and in the second…
We model competition on a credence goods market governed by an imperfect label, signaling high quality, as a rank-order tournament between firms. In this market interaction, asymmetric firms jointly and competitively control the aggregate…
Supplemental Nutrition Assistance Program (SNAP) aims to improve food security of low-income households in the U.S. A new, continuous food security measure called the Probability of Food Security (PFS), which proxies for the official food…
A long-standing discussion is to what extent patents can be used to monitor trends in innovation activity. This study quantifies the amount and quality of information about actual innovation contained in the patent system, based on 4,460…
The notion of the "adjacent possible" has been advanced to theorize the generation of novelty across many different research domains. This study is an attempt to examine in what way the notion can be made empirically useful for innovation…