What Explains Differences in Smoking, Drinking, and Other Health-Related Behaviors?

By David M. Cutler and Edward Glaeser

American Economic Review, May 2005

The Cost of Reducing Gasoline Consumption

By Sarah E. West and Roberton C. Williams III

American Economic Review, May 2005

Fear and Greed in Financial Markets: A Clinical Study of Day-Traders

By Andrew W. Lo, Dmitry V. Repin, and Brett N. Steenbarger

American Economic Review, May 2005

The Bundling of Academic Journals

By Aaron S. Edlin and Daniel L. Rubinfeld

American Economic Review, May 2005

Understanding European Real Exchange Rates

By Mario J. Crucini, Chris I. Telmer, and Marios Zachariadis

American Economic Review, June 2005

We study good-by-good deviations from the Law-of-One-Price (LOP) for over 1,800 retail goods and services between all European Union (EU) countries for the years 1975, 1980, 1985, and 1990. We find that for each of these years, after we control for differ...

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan

By Joe Peek and Eric S. Rosengren

American Economic Review, September 2005

We examine the misallocation of credit in Japan associated with the perverse incentives faced by banks to provide additional credit to the weakest firms. Firms are more likely to receive additional bank credit if they are in poor financial condition, beca...

Services as Experience Goods: An Empirical Examination of Consumer Learning in Automobile Insurance

By Mark Israel

American Economic Review, December 2005

Theoretical work on experience goods sets out three empirical questions. How accurate is information at initial purchase? How rapidly do consumers learn from product experiences? And how much impact does learning have on purchase decisions? I answer these...

Human Capital Formation, Life Expectancy, and the Process of Development

By Matteo Cervellati and Uwe Sunde

American Economic Review, December 2005

We provide a unified theory of the transition in income, life expectancy, education, and population size from a nondeveloped environment to sustained growth. Individuals optimally trade off the time cost of education with its lifetime returns. Initially, ...

National Treatment in the GATT

By Henrik Horn

American Economic Review, March 2006

The National Treatment (NT) clause is the first-line defense in the GATT (and in most other trade agreements) against opportunistic exploitation of the inevitable incompleteness of the agreement. This paper examines the role of NT as it applies to interna...

Social Value of Public Information: Comment: Morris and Shin (2002) Is Actually Pro-Transparency, Not Con

By Lars E. O. Svensson

American Economic Review, March 2006

The Evolution of a Global Climate Change Agreement

By William A. Pizer

American Economic Review, May 2006

Valuing Consumer Products by the Time Spent Using Them: An Application to the Internet

By Austan Goolsbee and Peter J. Klenow

American Economic Review, May 2006

The Regulatory Record of the Greenspan Fed

By Charles W. Calomiris

American Economic Review, May 2006

The Road to Price Stability

By Athanasios Orphanides

American Economic Review, May 2006

Individual versus Parental Consent in Marriage: Implications for Intra-Household Resource Allocation and Growth

By Lena Edlund and Nils-Petter Lagerlöf

American Economic Review, May 2006

Family Structure, Institutions, and Growth: The Origins and Implications of Western Corporations

By Avner Greif

American Economic Review, May 2006

Executive Turnover and Firm Performance in China

By Takao Kato and Cheryl Long

American Economic Review, May 2006

An Efficient Dynamic Auction for Heterogeneous Commodities

By Lawrence M. Ausubel

American Economic Review, June 2006

This article proposes a new dynamic design for auctioning multiple heterogeneous commodities. An auctioneer wishes to allocate K types of commodities among n bidders. The auctioneer announces a vector of current prices, bidders report quantities demand...

Paying Not to Go to the Gym

By Stefano DellaVigna and Ulrike Malmendier

American Economic Review, June 2006

How do consumers choose from a menu of contracts? We analyze a novel dataset from three U.S. health clubs with information on both the contractual choice and the day-to-day attendance decisions of 7,752 members over three years. The observed consumer b...

Pareto-Improving Social Security Reform when Financial Markets are Incomplete!?

By Dirk Krueger and Felix Kubler

American Economic Review, June 2006

This paper studies an overlapping generations model with stochastic production and incomplete markets to assess whether the introduction of an unfunded social security system leads to a Pareto improvement. When returns to capital and wages are imperfec...