经济学
Instrumental variable (IV) methods rely critically on the exclusion restriction, which is untestable in exactly-identified models under standard assumptions. We propose a framework combining IV analysis with the LiNGAM method to test this…
Despite the scale of capital being deployed toward AI initiatives, no empirical framework currently exists for benchmarking where a firm stands relative to competitors in AI readiness and deployment, or for translating that position into…
This paper develops a simple model of the world supply chain to estimate the effects of sanctions that restrict the flow of inputs from one country to another. Such restrictions operate through changes in the weights of the global…
We propose a model of whataboutism -- a rhetorical strategy that deflects criticism by citing similar misconduct that goes uncriticized on the critic's side -- and study its implications for social norms governing offensive speech. In an…
This paper examines how loss aversion affects wages offered by employers and accepted by job seekers. I introduce a behavioral search model with monopsonistic firms making wage offers to job seekers who experience steeper disutility from…
We develop a deep learning algorithm for constructing globally accurate approximations to functional rational expectations equilibria of dynamic stochastic economies in the sequence space. We use deep neural networks to parameterize key…
We introduce Delphos, a deep reinforcement learning framework for assisting the discrete choice model specification process. Delphos aims to support the modeller by providing automated, data-driven suggestions for utility specifications,…
How labor markets adjust immediately after minimum wage hikes remains an open, policy-relevant question. This paper studies short-run minimum-wage effects in Japan's spot labor market using Timee data and a wage-bin…
Online marketplaces frequently run pricing experiments in environments where users choose from a list of items. In these settings, items compete for users' limited attention and demand, creating interference among items within a list:…
We show how to identify the distributions of the latent components in the two-way dyadic model for bipartite networks $y_{i,\ell}= \alpha_i+\eta_{\ell}+\varepsilon_{i,\ell}$. This is achieved by a repeated application of the extension of…
We study competitive equilibria in exchange economies when a continuum of goods is conflated into a finite set of commodities. The design of conflation choices affects the allocation of scarce resources among agents, by constraining trading…
We provide and axiomatize a representation for preferences over lotteries that generalizes the expected utility model. Since the representation uses different utility functions to evaluate different lotteries, the preferences can be…
We study statistical inference on unit roots and cointegration for time series in a Hilbert space. We develop statistical inference on the number of common stochastic trends embedded in the time series, i.e., the dimension of the…
Using rich Swedish administrative data, we apply causal machine learning methods to study how earnings losses after job displacement vary with observable characteristics that may be relevant for targeting policy interventions for workers.…
Machine-learning (ML) methods now routinely generate regressors used in subsequent econometric analyses, for example, estimated propensity scores, control-function residuals, imputed covariates, learned proxies, or low-dimensional…
We study a public good game with N citizens and a Governor who allocates resources from a common fund. Citizens may voluntarily contribute or be compelled to do so if audited, in which case shirkers face a penalty. The Governor decides how…
Decision makers often opt for the deferral outside option when they find it difficult to make an active choice. Contrary to existing logit models with an outside option where the latter is assigned a fixed value exogenously, this paper…
A vocabulary is a list of words designating subsets from a grand set X. We model a vocabulary as a partition of X and study the aggregation of individual vocabularies into a collective one. We characterize aggregation rules when X is…
Scientists agree about the urgency of the problem of climate change. Most citizens, however, pay little attention to gradually increasing temperature levels. Growing numbers of natural disasters in the world might then play a fundamental…
The rise of foundation models has driven the emergence of AI supply chains, where upstream foundation model providers offer fine-tuning and inference services to downstream firms developing domain-specific applications. Downstream firms pay…