经济学
This paper analyzes the effects of educational tracking and the quality of track assignment decisions. We motivate our analysis using a model of optimal track assignment under uncertainty. This model generates predictions about the average…
We propose an empirical Bayes estimator for two-way effects in linked data sets based on a novel prior that leverages patterns of assortative matching observed in the data. To capture limited mobility we model the bipartite graph associated…
Independence from non-essential changes in input information is a widely recognized axiom in social choice theory. This independence reduces the cost of specifying and/or analyzing non-essential data. This study makes a comprehensive…
We develop a monetary macro accounting theory (MoMaT) and its software specification for a consistent national accounting. In our money theory money functions primarily as a medium of payment for obligations and debts, not as a medium of…
This paper examines the effects of daily temperature fluctuations on subnational economic growth in Thailand. Using annual gross provincial product (GPP) per capita data from 1982 to 2022 and high-resolution reanalysis weather data, I…
Causal inference methods such as instrumental variables, regression discontinuity, and difference-in-differences are widely used to identify and estimate treatment effects. However, when outcomes are qualitative, their application poses…
We propose utilizing match-level suspense and surprise - which capture the entertainment utility created by competitive balance and outcome uncertainty for sports spectators - as alternative policy targets for league organizers and…
We propose a method for multilevel decomposition of generalized entropy (GE) measures that explicitly accounts for nested population structures such as national, regional, and subregional levels. Standard approaches that estimate GE…
This paper analyzes realized return behavior across a broad set of crypto assets by estimating heterogeneous exposures to idiosyncratic and systematic risk. A key challenge arises from the latent nature of broader economy-wide risk sources:…
This paper develops a formal game-theoretic model to examine how protocol mutability disrupts cooperative mining behaviour in blockchain systems. Using a repeated game framework with stochastic rule shocks, we show that even minor…
We propose a simple modification to the wild bootstrap procedure and establish its asymptotic validity for linear regression models with many covariates and heteroskedastic errors. Monte Carlo simulations show that the modified wild…
This paper integrates Austrian capital theory with repeated game theory to examine strategic miner behaviour under different institutional conditions in blockchain systems. It shows that when protocol rules are mutable, effective time…
A monopolist offers personalized prices to consumers with unit demand, heterogeneous values, and idiosyncratic costs, who differ in a protected characteristic, such as race or gender. The seller is subject to a non-discrimination…
We study the psychological and social impacts of exiting a national anti-poverty campaign, leveraging China's phase-out of its national poverty assistance as a natural experiment. Using a regression discontinuity design, we find that…
Studies of micro-level price datasets find more frequent small price increases than decreases, which can be explained by consumer inattention because time-constrained shoppers might ignore small price changes. Recent empirical studies of…
Effective climate action depends on dismantling the assumptions and oversimplifications that have become the basis of climate policy. The assumption that greenhouse gases (GHG) are fungible and the use of single-point values in normalizing…
Analyses of heterogeneous treatment effects (HTE) are common in applied causal inference research. However, when outcomes are latent variables assessed via psychometric instruments such as educational tests, standard methods ignore the…
Choice overload - in which larger choice sets are detrimental to a chooser's well-being - is potentially of great importance in the design of economic policy. Yet the current evidence on its prevalence is inconclusive. We argue that…
The process of consumer decision-making is multidimensional, and price perception is a very important but still not well-understood dimension for both marketers and consumers. Although heuristics or mental shortcuts are seen as biased and…
Intellectual property (IP) rules have the potential to shape cross-border trade far more than their legalistic origins might suggest. Drawing on three decades of evidence, this review shows that stronger IP rights simultaneously create…