Distributed Computation as an Economic System

By Bernardo A. Huberman and Tad Hogg

Journal of Economic Perspectives, Winter 1995

As computer networks grow and blanket the planet, they become a community of concurrent processes, which, in their interactions, strategies, and lack of perfect knowledge, become analogous to human market economies. Economics may thus offer new ways of de...

Sharing Demographic Risk--Who Is Afraid of the Baby Bust?

By Alexander Ludwig and Michael Reiter

American Economic Journal: Economic Policy, November 2010

We model the reaction of a PAYG pension system to demographic shocks. We compare the ex ante first best and second best solution of a Ramsey planner with full commitment to the outcome under simple third best rules. The model is calibrated to the German e...

Kwacha Gonna Do? Experimental Evidence about Labor Supply in Rural Malawi

By Jessica Goldberg

American Economic Journal: Applied Economics, January 2016

I use a field experiment to estimate the wage elasticity of employment in the day labor market in rural Malawi. Once a week for 12 consecutive weeks, I make job offers for a workfare-type program to 529 adults. The daily wage varies from the tenth to the ...

Report: American Economic Association Committee on Statistics

By Robert Feenstra

American Economic Review, May 2013

U.S. Economic Growth since 1870: One Big Wave?

By Robert J. Gordon

American Economic Review, May 1999

An Introduction to Vote-Counting Schemes

[Symposium: Economics of Voting]

By Jonathan Levin and Barry Nalebuff

Journal of Economic Perspectives, Winter 1995

Many researchers, following Kenneth Arrow's lead, have concerned themselves with stating various desirable or undesirable criteria and attempting to classify vote-counting systems. This paper moves away from theoretical discussions: the authors illustrate...

Incentive-Compatible Matching Mechanisms: Consistency with Various Stability Notions

By M. Bumin Yenmez

American Economic Journal: Microeconomics, November 2013

I study the consistency of incentive compatibility with several stability notions for a one-to-one matching market with transfers. Ex post stability, studied in the matching literature, is too strong to be satisfied together with incentive compatibilit...

Treatment Effect Bounds under Monotonicity Assumptions: An Application to Swan-Ganz Catheterization

By Jay Bhattacharya, Azeem M. Shaikh, and Edward Vytlacil

American Economic Review, May 2008

An Introduction to Applicable Game Theory

By Robert Gibbons

Journal of Economic Perspectives, Winter 1997

This paper offers an introduction to game theory for applied economists. The author gives simple definitions and intuitive examples of four kinds of games and their corresponding solution concepts: Nash equilibrium in static games of complete information;...

Why Tie a Product Consumers Do Not Use?

By Dennis W. Carlton, Joshua S. Gans, and Michael Waldman

American Economic Journal: Microeconomics, August 2010

We provide an explanation for tying not based on any of the standard arguments: efficiency, price discrimination, or exclusion. In our analysis a monopolist ties a complementary good to its monopolized good, but consumers do not use the tied good. The tie...

Financial Knowledge and Financial Literacy at the Household Level

By Alan L. Gustman, Thomas L. Steinmeier, and Nahid Tabatabai

American Economic Review, May 2012

There is evidence of a relation between numeracy and wealth held outside of pensions and Social Security. With pensions and Social Security accounting for half of wealth at retirement, and evidence that those with pensions save more in other forms, one wo...

What the Stock Market Decline Means for the Financial Security and Retirement Choices of the Near-Retirement Population

[Symposium: Retirement and Work Choices]

By Alan L. Gustman, Thomas L. Steinmeier, and Nahid Tabatabai

Journal of Economic Perspectives, Winter 2010

This paper investigates the effect of the current recession on the retirement age population. Data from the Health and Retirement Study suggest that those approaching retirement age (early boomers ages 53 to 58 in 2006) have only 15.2 percent of their wea...

Financial Innovation and Asset Price Volatility

By Felix Kubler and Karl Schmedders

American Economic Review, May 2012

We compare asset prices in an overlapping generations model for incomplete and complete markets. Individuals within a generational cohort have heterogeneous beliefs about future states of the economy and thus would like to make bets against each other. In...

Economic Insights from "Neuroeconomic" Data

By Andrew Caplin and Mark Dean

American Economic Review, May 2008

Antidumping Investigations and the Pass-Through of Antidumping Duties and Exchange Rates: Comment

By Brian D. Kelly

American Economic Review, June 2010

Blonigen and Haynes (2002) calculated that pass-through of antidumping duty estimates to U.S. pricing of 200% would be required to eliminate potential antidumping duties. However, this calculation was based on an error in interpretation of U.S. antidumpin...

The Impact of Targeting Technology on Advertising Markets and Media Competition

By Susan Athey and Joshua S. Gans

American Economic Review, May 2010

Preference Signaling in Matching Markets

By Peter Coles, Alexey Kushnir, and Muriel Niederle

American Economic Journal: Microeconomics, May 2013

Many labor markets share three stylized facts: employers cannot give full attention to all candidates, candidates are ready to provide information about their preferences for particular employers, and employers value and are prepared to act on this inf...

A Note from the President-Elect

By Zvi Griliches

Journal of Economic Perspectives, Fall 1992

A few months ago, Congress overruled the peer review process of the National Science Foundation. A congressional aide looked over the list of NSF grants, decided that 31 of them had titles unworthy of funding, and a conference committee voted on May 21 to...

Correspondence

By Paul A. Samuelson

Journal of Economic Perspectives, Fall 1992

Correspondence and response regarding: Graduated Income Taxation, Which Reduces Inequality, Leaves Pareto's Coefficient Invariant: A Pseudo-paradox That Debunks Pareto's Coefficient More on Keynes and Probability

Distinguished Fellow: In Honor of Victor Fuchs

By Joseph P. Newhouse

Journal of Economic Perspectives, Summer 1992

Victor Fuchs is a towering figure. His contributions to economics have spanned nearly 35 years. As his career has progressed, he has increasingly come to write on subjects of broad interest in a style that is accessible to noneconomists, thereby magnifyin...