Telecommunications Deregulation

By Jerry A. Hausman and William E. Taylor

American Economic Review, May 2012

From Fred Kahn's writings and experiences as a telecommunications regulator and commenter, we draw the following conclusions: prices must be informed by costs; costs are actual incremental costs; costs and prices are an outcome of a Schumpeterian competit...

The Determinants and Consequences of School Choice Errors in Kenya

By Adrienne M. Lucas and Isaac M. Mbiti

American Economic Review, May 2012

School choice systems designed to help disadvantaged groups might be hindered by information asymmetries. Kenyan elite secondary schools admit students from the entire country based on a national test score, district quotas, and stated school choices. We ...

Measuring How Fiscal Shocks Affect Durable Spending in Recessions and Expansions

By David Berger and Joseph Vavra

American Economic Review, May 2014

We estimate how durable expenditures respond to government spending shocks at different points in the business cycle using a nonlinear VAR approach that allows for the durable multiplier to vary smoothly with the state of the economy. We find strong evide...

Economists and Field Research: "You Can Observe a Lot Just by Watching."

By Susan Helper

American Economic Review, May 2000

Individual Time Preferences and Energy Efficiency

By Richard G. Newell and Juha Siikamäki

American Economic Review, May 2015

We examine the role of individual discount rates in energy efficiency decisions using evidence from an extensive survey of US homeowners to elicit preferences for energy efficiency and cash flows over time. We find considerable heterogeneity in individual...

Appeasement: Can It Work?

By Jack Hirshleifer

American Economic Review, May 2001

Product Markets and 1992: Full Integration, Large Gains?

[Symposium: Europe in 1992]

By Harry Flam

Journal of Economic Perspectives, Fall 1992

The goal of the '"1992" program is to complete by January 1, 1993, what the European Community set out to do in 1957: create a common market with a free flow of goods, services, labor, and capital. If the program is completed, the twelve member countries ...

Minutes of the Meeting of the Executive Committee: Chicago, IL, April 24, 2015

By Peter L. Rousseau

American Economic Review, May 2016

On Quitting Rights in Mechanism Design

By Olivier Compte and Philippe Jehiel

American Economic Review, May 2007

Are Speculators Unwelcome in Multi-object Auctions?

By Marco Pagnozzi

American Economic Journal: Microeconomics, May 2010

I consider a uniform-price auction under complete information. The possibility of resale attracts speculators who have no use value for the objects on sale. A high-value bidder may strictly prefer to let a speculator win some of the objects and then buy i...

How Big Are Total Individual Income Tax Expenditures, and Who Benefits from Them?

By Leonard E. Burman, Christopher Geissler, and Eric J. Toder

American Economic Review, May 2008

Moderating Political Extremism: Single Round versus Runoff Elections under Plurality Rule

By Massimo Bordignon, Tommaso Nannicini, and Guido Tabellini

American Economic Review, August 2016

We compare single round versus runoff elections under plurality rule, allowing for partly endogenous party formation. Under runoff elections, the number of political candidates is larger, but the influence of extremist voters on equilibrium policy, and he...

But Who Will Guard the Guardians?

By Leonid Hurwicz

American Economic Review, June 2008

Should the Euro Area Be Run as a Closed Economy?

By Carlo Favero and Francesco Giavazzi

American Economic Review, May 2008

Corporate Audits and How to Fix Them

By Joshua Ronen

Journal of Economic Perspectives, Spring 2010

Auditors are supposed to be watchdogs, but in the last decade or so, they sometimes looked like lapdogs -- more interested in serving the companies they audited than in assuring a flow of accurate information to investors. The auditing profession is based...

The Public and Private Sectors in the Process of Innovation: Theory and Evidence from the Mouse Genetics Revolution

By Philippe Aghion, Mathias Dewatripont, Julian Kolev, Fiona Murray, and Scott Stern

American Economic Review, May 2010

The Cabals of a Few or the Confusion of a Multitude: The Institutional Trade-Off between Representation and Governance

By Leah Brooks, Justin Phillips, and Maxim Sinitsyn

American Economic Journal: Economic Policy, February 2011

Our model illustrates how political institutions trade off between the competing goals of representation and governance, where governance is the responsiveness of an institution to a single pivotal voter. We use exogenous variation from the 30-year histor...

Prostitutes and Brides?

By Raj Arunachalam and Manisha Shah

American Economic Review, May 2008

Behind This Structural Boom: The Role of Asset Valuations

By Edmund S. Phelps

American Economic Review, May 1999

Subjective Probabilities on a State Space

By Edi Karni

American Economic Journal: Microeconomics, November 2011

This paper extends the analytical framework of Karni (2011) to include a state space and advances a choice-based definition of subjective probabilities on this space. These probabilities represent the beliefs of Bayesian decision makers regarding the lik...