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James K. Hammitt, Lisa A. Robinson, and Richard Zeckhauser
vol. 10, n. 2, September 2016, pp. 308–328
Before promulgating a major environmental, health, or safety regulation, U.S. government agencies are generally expected to analyze the distribution of its impacts as well as its total costs and benefits. We review several regulatory analyses to determine whether this expectation is being met. We...
Mohamed Saleh
vol. 76, n. 3, September 2016, pp. 697–735
Juan-Manuel Anaya, David Bardey, John Castiblanco, Carolina Duarte-Rey, Adriana Rojas-Villarraga, and Juan-C Sarmiento-Monroy
vol. 15, n. 8, August 2016, pp. 833–842
Bruno Biais, Florian Heider, and Marie Hoerova
vol. 71, n. 4, August 2016, pp. 1669–1698
Derivatives activity, motivated by risk-sharing, can breed risk taking. Bad news about the risk of the asset underlying the derivative increases the expected liability of a protection seller and undermines her risk prevention incentives. This limits risk-sharing, and may create endogenous...
Daniel L. Chen, Tobias J. Moskowitz, and Kelly Shue
vol. 131, n. 3, August 2016, pp. 1181–1241
We find consistent evidence of negative autocorrelation in decision making that is unrelated to the merits of the cases considered in three separate high-stakes field settings: refugee asylum court decisions, loan application reviews, and Major League Baseball umpire pitch calls. The evidence is...
Alexandre Cornière (de)
vol. 8, n. 3, August 2016, pp. 156–188
Search engines enable advertisers to target consumers based on the query they have entered. In a framework in which consumers search sequentially after having entered a query, I show that targeting reduces search costs, improves matches and intensifies price competition. However, a profit-...
James K. Hammitt, and Lisa A. Robinson
vol. 25, n. 8, August 2016, pp. 1039–1052
The value of mortality risk reductions, conventionally expressed as the value per statistical life (VSL), is an important determinant of the net benefits of many government policies. U.S. regulators currently rely primarily on studies of fatal injuries, raising questions about whether different...
Guillaume Cheikbossian
vol. 47, n. 2, August 2016, pp. 315–348
This paper provides a political economy analysis of (de)centralization when local public goods -- with spillovers effects -- can be substitutes or complements. Depending on the degree of complementarity between local public goods, median voters strategically delegate policy to either `conservative...
G. Dhaene, and Koen Jochmans
vol. 145, August 2016, pp. 98–103
Laurent Gobillon, and Thierry Magnac
vol. 98, n. 3, July 2016, pp. 535–551
In this paper, we investigate the use of interactive effect or linear factor models in regional policy evaluation. We contrast treatment effect estimates obtained using Bai (2009) with those obtained using difference in differences and synthetic controls (Abadie and coauthors). We show that...
