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Bias and Sensitivity under Ambiguity

By Zhen Huo, Marcelo Pedroni, and Guangyu Pei

American Economic Review, December 2024

This paper characterizes the effects of ambiguity aversion under dispersed information. The equilibrium outcome is observationally equivalent to a Bayesian forecast of the fundamental with increased sensitivity to signals and a pessimistic bias. This equi...

Social Protection in the Developing World

By Abhijit Banerjee, Rema Hanna, Benjamin A. Olken, and Diana Sverdlin Lisker

Journal of Economic Literature, December 2024

Social protection programs have become increasingly widespread in low- and middle-income countries, with their own distinct characteristics to match the environments in which they are operating. This paper reviews the growing literature on the design and ...

The Economics of Social Media

By Guy Aridor, Rafael Jiménez-Durán, Ro'ee Levy, and Lena Song

Journal of Economic Literature, December 2024

We provide a guide to the burgeoning literature on the economics of social media. We first define social media platforms and highlight their unique features. We then synthesize the main lessons from the empirical economics literature and organize them aro...