经济学
We study the consequences of job markets' heavy reliance on referrals. Referrals lead to more opportunities for workers to be hired, which lead to better matches and increased productivity, but also disadvantage job-seekers with few or no…
Under heterogeneous treatment effects, the GMM weighting matrix in overidentified IV models dictates the estimand. We show that efficient GMM downeights high-variance instruments and frequently assigning negative weights that undermine…
This paper investigates the role of complex and negative roots in mixed causal-noncausal autoregressive (MAR) models. Using partial fraction decompositions, we show that seasonal roots can always be isolated in the moving average…
This paper develops a unified framework for testing monotonicity of Bayesian Nash equilibrium strategies in unobserved types in games of incomplete information. We show that, under symmetric independent private types, monotonicity of…
A principal with cheap capital optimally forces her counterparty to borrow at above-market rates. The reason: the form of finance is a screening device. Advances provide liquidity but pool types; contingent transfers separate types, but,…
Addressing the large inefficiencies generated by the Deferred Acceptance (DA) mechanism requires priority violations, but which ones are justifiable? The leading approach is to ask individuals if they consent to waive their priority…
Normalization is ubiquitous in economics, and a growing literature shows that ``normalizations'' can matter for interpretation, counterfactual analysis, misspecification, and inference. This paper provides a general framework for these…
Collective decision-making requires aggregating multiple noisy information channels about an unknown state of the world. Classical epistemic justifications of majority rule rely on homogeneity assumptions often violated when individual…
Controversy about the significance of underdetermination of theories persists in the philosophy and conduct of science. The issue has practical import when research is used to inform decision making, because scientific uncertainty yields…
Penalty shootouts play a crucial role in the knockout stage of major football tournaments. Their importance has substantially increased from the 2021/22 season, when the Union of European Football Associations (UEFA) scrapped the away goals…
Single-use plastics (SUPs) impose substantial environmental costs. Following Directive (EU) 2019/904, Austria and Germany introduced producer charges and fund payments to finance clean-up. Using a high-frequency panel of retail offer spells…
We study the equilibria of uniform price auctions where many asymmetric bidders have flat demands up to their respective quantity constraints. We present an iterative procedure that systematically finds an equilibrium outcome as well as an…
This paper develops an Afriat-type characterization of concave rationalization with an unknown ideal point. We show that a system of Afriat inequalities - where the unknown peak enters as a virtual observation with the highest utility - is…
Drafts are sequential round-robin allocation procedures for distributing heterogeneous and indivisible objects among agents subject to some priority order (e.g., allocating players' contract rights to teams in professional sports leagues).…
A central challenge in mechanism design is to identify mechanisms whose performance is robust under uncertainty about the environment. The maxmin optimality criterion is commonly used for this purpose, but it often yields a large and…
This paper studies a dominance relation among scoring rules with respect to avoiding the selection of the Condorcet loser. In a voting model with three or more alternatives, we say that a scoring rule $f$ Condorcet-loser-dominates…
We estimate the effect of cigarette price and tax increases on smoking rates using Eurobarometer survey data from 27 European Union countries between 2012 and 2020. Following a difference-in-differences approach, we compare individuals…
Household welfare dynamics are often difficult to investigate due to lack of long-term panel data. Existing methods, such as pseudo-panel and synthetic panel, offer widely used solutions based on repeated cross-section designs, but they do…
Production function estimates underpin the measurement of firm-level markups, allocative efficiency, and the productivity effects of policy interventions. Since Olley and Pakes (1996), every major proxy variable estimator has identified the…
This paper introduces a novel characteristics-based specification for linear demand to investigate endogenous product design. Characteristics are allowed to affect both consumers' product valuations and to what extent these compete. I…