经济学
Thomas Piketty's Capital in the Twenty-First Century puts forth a logically consistent explanation for changes in income and wealth inequality patterns. However, while rich in data, the book provides no formal empirical testing for its…
The importance of maritime heritage in providing benefits such as a sense of place and identity has been widely discussed. However, there remains a lack of comprehensive quantitative analysis, particularly regarding monetary valuation and…
This paper proposes a new lens for studying threshold games played on networks when the thresholds are heterogeneous. These are games where agents have two possible actions, and prefer action 1 if and only if enough of their neighbours…
Heterogeneous treatment effects are of major interest in economics. For example, a poverty reduction measure would be best evaluated by its effects on those who would be poor in the absence of the treatment, or by the share among the poor…
We study a full implementation problem with a state unknown to the designer but known to agents, where agents have uncertain evidence privately drawn from state-dependent distributions. Stochastic evidence enables ``perfect deceptions,''…
We study the performance of different methods for processing information, incorporating narrative selection within an evolutionary model. All agents update their beliefs according to Bayes' Rule, but some strategically choose the narrative…
We show that the ability to lead groups of humans is predicted by leadership skill with Artificially Intelligent agents. In a large pre-registered lab experiment, human leaders worked with AI agents to solve problems. Their performance on…
This paper develops a data-driven approach to Bayesian persuasion. The receiver is privately informed about the prior distribution of the state of the world, the sender knows the receiver's preferences but does not know the distribution of…
A fundamental challenge in the design of nonconvex markets is the absence of existence guarantees for Walrasian equilibria. Despite this lack of guarantees, we observed that the European day-ahead electricity auction attained equilibrium on…
We explore the international transmission of monetary policy and central bank information shocks originating from the United States and the euro area. Employing a panel vector autoregression, we use macroeconomic and financial variables…
We propose a structural approach to extrapolate average partial effects away from the cutoff in regression discontinuity designs (RDDs). Our focus is on applications that exploit closely contested school district referenda to estimate the…
In this work, we provide empirical evidence on organized criminal groups' (OCGs) behavior across the Liverpool area in the U.K. (Merseyside). We find that violent crimes concerning OCGs concentrate in the areas yielding the highest revenue,…
Most research questions in agricultural and applied economics are of a causal nature, i.e., how one or more variables (e.g., policies, prices, the weather) affect one or more other variables (e.g., income, crop yields, pollution). Only some…
Behavioural finance offers a valuable framework for examining foreign exchange (FX) market dynamics, including puzzles such as excess volatility and fat-tailed distributions. Yet, when it comes to their interaction with the `real' side of…
Using a panel payment system dataset of thirty-three provinces in Indonesia, we examine the impact of digital payment on the regional economy, considering structural breaks induced by unprecedented events and policies. Digital payments were…
This article develops a covariate balancing approach for the estimation of treatment effects on the treated (ATT) in a difference-in-differences (DID) research design when panel data are available. We show that the proposed covariate…
A central challenge in any study of the effects of beliefs on outcomes, such as decisions and behavior, is the risk of omitted variables bias. Omitted variables, frequently unmeasured or even unknown, can induce correlations between beliefs…
We study a long-run persuasion problem where a long-lived Sender repeatedly interacts with a sequence of short-lived Receivers who may adopt a misspecified model for belief updating. The Sender commits to a stationary information structure,…
We examine receiver-optimal mechanisms for aggregating information divided across many biased senders. Each sender privately observes an unconditionally independent signal about an unknown state, so no sender can verify another's report. A…
Several key states in various regions of the U.S. have experienced recent sawtimber as well as pulp and paper mill closures, which raises an important policy question: how have and will key macroeconomic and industry specific indicators…