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M.G Shrime, M.C. Weinstein, James K. Hammitt, Jessica Cohen, and Joshua Salomon
vol. 21, n. 1, January 2018, pp. 95–104
Although nearly two-third of bankruptcy in the United States is medical in origin, a common assumption is that individuals facing a potentially lethal disease opt for cure at any cost. This assumption has never been tested, and knowledge of how the American population values a trade-off between...
Dana Galizia, Franck Portier, and Paul Beaudry
vol. 85, n. 1, January 2018, pp. 119–156
Recessions often happen after periods of rapid accumulation of houses, consumer durables and business capital. This observation has led some economists, most notably Friedrich Hayek, to conclude that recessions often reflect periods of needed liquidation resulting from past over-investment....
Renato Gomes, Jean-Marie Lozachmeur, and Alessandro Pavan
vol. 85, n. 1, January 2018, pp. 511–557
We develop a framework to study optimal sector-specific taxation, where each agent chooses an occupation by comparing her skill differential with the tax burden differential across sectors. Because skills are not perfectly transferable, the Diamond-Mirrlees theorem (according to which the second-...
Jianyu Yu, Zohra Bouamra-Mechemache, and Angelo Zago
vol. 100, n. 1, January 2018, pp. 286–310
Collective labels are widespread in food markets, either separated or nested with private brands; the latter known as nested names. We propose a model to explain the rationale of nested names, with collective labels being effective in reaching unaware consumers while individual brands help firms to...
Christophe Lévêque, and Mohamed Saleh
vol. 67, January 2018, pp. 40–61
We investigate the impact of state industrialization on residential segregation between Muslims and non-Muslims in nineteenth-century Cairo using individual-level census samples from 1848 and1868. We measure local segregation by a simple inter-group isolation index, where Muslims' (non-Muslims')...
Stefan Ambec, and Jessica Coria
vol. 87, January 2018, pp. 114–134
We analyze the interplay between policies aimed to control transboundary and local pollu- tants such as greenhouse gases and particulate matter. The two types of pollution interact in the abatement cost function of the polluting firms through economies or diseconomies of scope. They are regulated...
Roberta Dessi, and Xiaojian Zhao
n. 145, January 2018, pp. 474–494
The available evidence from numerous studies suggests that overconfidence varies significantly across countries. We develop a model that endogenizes these differences and examines their economic consequences. A crucial determinant of difierences in overconfidence is the degree of expected stability...
Vessela Daskalova
vol. 107, January 2018, pp. 238–252
This paper presents an experiment investigating whether decision makers discriminate between members of their own group and members of another group. I focus on two aspects of this question: First, I compare behavior in individual and in joint decisions; Second, I test whether the identity of the...
James K. Hammitt, and Daniel Herrera-Araujo
vol. 87, January 2018, pp. 165–189
We develop validity tests for application to stated-preference estimates of WTP to reduce mortality risk, i.e., value per statistical life (VSL), and apply these to data obtained by surveying a representative sample of French adults over the internet. These tests (WTP nearly proportional to risk...
Simon Dietz, Christian Gollier, and Louise Kessler
vol. 87, January 2018, pp. 258–274
Mitigation reduces the expected future damages from climate change,flbut how does it affect the aggregate risk borne by future generations?flThis raises the question of the ‘climate beta’, i.e., the elasticity of climatefldamages with respect to a change in aggregate consumption. Inflthis paper we...
