Browsing Faculty of Arts and Sciences by FAS Department "Economics"
Now showing items 41-60 of 1283
-
Axiomatic Foundations of Multiplier Preferences
(The Econometric Society, 2011)This paper axiomatizes the robust control criterion of multiplier preferences introduced by Hansen and Sargent (2001). The axiomatization relates multiplier preferences to other classes of preferences studied in decision ... -
Axiomatization and Measurement of Quasi-Hyperbolic Discounting
(Oxford University Press (OUP), 2014)This article provides an axiomatic characterization of quasi-hyperbolic discounting and a more general class of semi-hyperbolic preferences. We impose consistency restrictions directly on the intertemporal trade-offs by ... -
Bad Beta, Good Beta
(American Economic Association, 2004)This paper explains the size and value "anomalies" in stock returns using an economically motivated two-beta model. We break the beta of a stock with the market portfolio into two components, one reflecting news about the ... -
Bailout or Bankruptcy?
(Cato Institute, Washington, DC, 2009) -
Bailout or Bankruptcy? A Libertarian Perspective on the Financial Crisis
(Cato Institute, 2009) -
Barbed Wire: Property Rights and Agricultural Development
(Oxford University Press, 2010)This paper examines the impact on agricultural development from the introduction of barbed wire fencing to the American Plains in the late 19th century. Without a fence, farmers risked uncompensated damage by others’ ... -
Bargaining in Markets
(2017-05-11)In the first chapter I describe a method to construct fair—or symmetry-preserving—stable sets of compound simple games from fair stable sets of their quotient and components, and I discuss how it contributes to the ... -
Bayesian inference in a class of partially identified models
(The Econometric Society, 2016)This paper develops a Bayesian approach to inference in a class of partially identified econometric models. Models in this class are characterized by a known mapping between a point identified reduced-form parameter µ, and ... -
Behavioral Economics and Marketing in Aid of Decision Making Among the Poor
(American Marketing Association, 2006)This article considers several aspects of the economic decision making of the poor from the perspective of behavioral economics, and it focuses on potential contributions from marketing. Among other things, the authors ... -
Behavioral Economics and Public Policy: A Pragmatic Perspective
(American Economic Association, 2015)The debate about behavioral economics – the incorporation of insights from psychology into economics – is often framed as a question about the foundational assumptions of economic models. This paper presents a more pragmatic ... -
A Behavioral Economics View of Poverty
(American Economic Association, 2004) -
A Behavioral New Keynesian Model
(2016)This paper presents a framework for analyzing how bounded rationality affects monetary and fiscal policy. The model is a tractable and parsimonious enrichment of the widely-used New Keynesian model – with one main new ... -
Being Surveyed Can Change Later Behavior and Related Parameter Estimates
(National Academy of Sciences, 2011)Does completing a household survey change the later behavior of those surveyed? In three field studies of health and two of microlending, we randomly assigned subjects to be surveyed about health and/or household finances ... -
Belief Disagreements and Collateral Constraints
(Econometric Society, 2012-09-17)Belief disagreements have been suggested as a major contributing factor to the recent financial crisis. This paper theoretically evaluates this hypothesis. I assume that optimists have limited wealth and take on leverage ... -
Belief Flipping in a Dynamic Model of Statistical Discrimination
(Elsevier, 2007)The literature on statistical discrimination shows that ex-ante identical groups may be differentially treated in discriminatory equilibria. This paper constructs a dynamic model of statistical discrimination and explores ... -
Bilateral Contracts
(Elsevier Science B.V., 1983)A mathematical characterization of self-enforcing bilateral contracts is given. Contracts where both parties exercise some control over the quantity traded can sometimes be superior to contracts that rest control entirely ... -
The Birth and Growth of the Social Insurance State: Explaining Old-Age and Medical Insurance Across Countries
(Springer Verlag, 2004)We seek to explain why countries have adopted national Old-Age Insurance and Health Insurance programs. Theoretical work has posited several factors that could lead to this adoption: the strain from expanding capitalism; ... -
Birthplace Diversity and Economic Prosperity
(2015)We propose an index of population diversity based on peopleís birthplaces and decompose it into a size (share of immigrants) and a variety (diversity of immigrants) component. We show that birthplace diversity is largely ... -
Bond and Stock Returns in a Simple Exchange Model
(MIT Press, 1986)This paper studies asset pricing in a general equilibrium representative agent exchange model. The assumptions of isoelastic period utility and lognormal endowment allow the derivation of closed-form solutions for asset ...