Hours, Occupations, and Gender Differences in Labor Market Outcomes

By Andrés Erosa, Luisa Fuster, Gueorgui Kambourov, and Richard Rogerson

American Economic Journal: Macroeconomics, July 2022

Goldin (2014) offers a narrative in which gender differences in home production responsibilities create gender gaps in labor market outcomes. We carry out a model-based quantitative assessment of this narrative and find that it can account for a significa...

Review of The Ordinary Business of Life by Backhouse

By Samuel Brittan

Journal of Economic Literature, March 2003

Roger Backhouse's book The Ordinary Business of Life is a comprehensive history of economic thought, from the ancient Greeks to the present day. It will be useful both to specialist economists and to people with a smattering of economic ideas who...

Book Reviews

Journal of Economic Literature, March 2003

Front Matter

American Economic Journal: Microeconomics, August 2022

Term Limits and Bargaining Power in Electoral Competition

By Germán Gieczewski

American Economic Journal: Microeconomics, August 2022

I study a dynamic model of electoral competition between candidates with heterogeneous valence. When the candidates' and voters' policy preferences differ, the winner extracts rents, limited only by the voters' threat of electing the weaker candidate. Thi...

Political Competition with Endogenous Party Formation and Citizen Activists

By Emanuel Hansen

American Economic Journal: Microeconomics, August 2022

This paper studies the effects of endogenous party formation on political platforms. It develops a model in which parties allow like-minded citizens to, first, share the cost of running in a public election and, second, coordinate on a policy platform. Th...

Adviser Compensation, Endogenous Entry, and the Advice Gap

By Jurre H. Thiel

American Economic Journal: Microeconomics, August 2022

To prevent biased advice, regulators increasingly ban commission payments to financial advisers. Such bans are associated with "advice gaps," meaning that advice becomes less accessible. To understand the trade-off between the quality and accessibility of...

Class Actions and Private Antitrust Litigation

By Albert H. Choi and Kathryn E. Spier

American Economic Journal: Microeconomics, August 2022

When firms collude and charge supracompetitive prices, consumers can bring antitrust lawsuits against the firms. When the litigation cost is low, firms accept the cost as just another cost of doing business, whereas when the cost is high, the firms lower ...

Annotated Listing of New Books

Journal of Economic Literature, March 2003

Contract Duration and the Costs of Market Transactions

By Alexander MacKay

American Economic Journal: Microeconomics, August 2022

The optimal duration of a supply contract balances the costs of re-selecting a supplier against the costs of being matched to an inefficient supplier when the contract lasts too long. I develop a structural model of contract duration that captures this tr...

Platform Governance

By Tat-How Teh

American Economic Journal: Microeconomics, August 2022

Platforms that intermediate trades—such as Amazon, Airbnb, and eBay—play a regulatory role in deciding how to govern the marketplaces they create. We propose a framework to analyze a platform's nonprice governance design and its incentive to act in a ...

A Theory of Crime and Vigilance

By Jorge Vásquez

American Economic Journal: Microeconomics, August 2022

This paper develops a theory of crime in which potential victims elect their vigilance levels. When vigilance expenses are greater than expected property losses, an increase in penalties raises crime, namely, a criminal Laffer curve emerges. This curve is...

Trust and Promises over Time

By Florian Ederer and Frédéric Schneider

American Economic Journal: Microeconomics, August 2022

Using a large-scale hybrid laboratory and online trust experiment with and without preplay communication, we investigate how the passage of time affects trust. Communication (predominantly through promises) raises cooperation, trust, and trustworthiness b...

Strategic Teaching and Learning in Games

By Burkhard C. Schipper

American Economic Journal: Microeconomics, August 2022

We show there is no uncoupled learning heuristic leading to Nash equilibrium in all finite games that a player has an incentive to adopt, that would be evolutionary stable, or that could "learn itself." Rather, a player has an incentive to strategically t...

Learning in Games and the Interpretation of Natural Experiments

By Drew Fudenberg and David K. Levine

American Economic Journal: Microeconomics, August 2022

We show that the treatment effect estimated by standard methods such as regression discontinuity analysis or difference-in-differences may contain a transient "learning effect" that is entangled with the long-term effect of the treatment. This learning ef...

The Focal Luce Model

By Matthew Kovach and Gerelt Tserenjigmid

American Economic Journal: Microeconomics, August 2022

We introduce the Focal Luce Model (FLM), a random choice model that generalizes Luce's (1959) model (multinomial logit) to account for menu-dependent focality of alternatives. In the FLM, focal alternatives are relatively more likely to be chosen even aft...

Waiting to Choose: The Role of Deliberation in Intertemporal Choice

By Alex Imas, Michael A. Kuhn, and Vera Mironova

American Economic Journal: Microeconomics, August 2022

We study the impact of deliberation on intertemporal choices. Using multiple experiments, including a field study in the Democratic Republic of the Congo, we show that the introduction of waiting periods—a policy that temporally separates information ab...

Acquisition, Aggregation, and Sharing of Information in Sequential-Move Aggregative Games

By Eray Cumbul

American Economic Journal: Microeconomics, August 2022

We study quadratic payoff common-value sequential-move aggregative games with signaling. Applications include Stackelberg quantity-setting, public good contribution, common resource, gas emission, and manufacturer-retailer games. Whereas efficient aggrega...

Investment and Information Acquisition

By Dimitri Migrow and Sergei Severinov

American Economic Journal: Microeconomics, August 2022

We study the interaction between productive investment and persuasion activities in a principal–agent setting with strategic disclosure. In an attempt to persuade the principal, the agent diverts substantial resources from productive activities to info...

The Rise of the Regulatory State

By Edward L. Glaeser and Andrei Shleifer

Journal of Economic Literature, June 2003

The Progressive Era of the early twentieth-century U.S. saw significant growth of government regulation of business. We model the choice of law enforcement strategy between private litigation over accidents, regulation of precautions, a combination of the...