CSWEP Board: Galina Hale

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CSWEP Board: Nitya Pandalai-Nayar

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CSWEP Board: Usha Nair-Reichert

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CSWEP Board: Caitlin Myers

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The returns to industrial policy

[Research Highlight]

January 22, 2025

Panle Jia Barwick and Myrto Kalouptsidi discuss how China subsidized its rise to becoming the world’s leading shipbuilder.

Report on the Status of Social Media Use in Economics and Recommendations for Best Practices

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Beating the heat

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How much are people willing to pay to avoid uncomfortable temperatures?

Front Matter

American Economic Journal: Microeconomics, February 2025

The Modern Wholesaler: Global Sourcing, Domestic Distribution, and Scale Economies

By Sharat Ganapati

American Economic Journal: Microeconomics, February 2025

Half of all transactions in the $6 trillion market for manufactured goods in the United States were intermediated by wholesalers in 2012, up from 32 percent in 1992. Seventy percent of this increase is due to the growth of "superstar" firms—the largest ...

The Inner Workings of a Hub-and-Spoke Cartel in the Automotive Fuel Industry

By Daniel Chaves and Marco Duarte

American Economic Journal: Microeconomics, February 2025

We study the inner workings of a hub-and-spoke cartel in the Brazilian automotive fuel industry. Based on court documents and detailed price and sales data, we discuss how gas station owners (spokes) operating inside the federal capital received help from...

Long-Term Relationships in the US Truckload Freight Industry

By Adam Harris and Thi Mai Anh Nguyen

American Economic Journal: Microeconomics, February 2025

This paper provides evidence on the scope and incentive mechanisms of long-term relationships in the US truckload freight industry. In this setting, shippers and carriers engage in repeated interactions under fixed-rate contracts that allow for inefficien...

Eliciting Time Preferences When Income and Consumption Vary: Theory, Validation, and Application to Job Search

By Michèle Belot, Philipp Kircher, and Paul Muller

American Economic Journal: Microeconomics, February 2025

We propose a simple method for eliciting individual time preferences without estimating utility functions even in settings where background consumption changes over time. It relies on eliciting preferences for receiving high stakes lottery tickets at diff...

Triplet Embeddings for Demand Estimation

By Lorenzo Magnolfi, Jonathon McClure, and Alan Sorensen

American Economic Journal: Microeconomics, February 2025

We propose a method to augment conventional demand estimation approaches with crowd-sourced data on the product space. Our method obtains triplets data ("product A is closer to B than it is to C") from an online survey to compute an embedding—i.e., a lo...

Eliciting Ambiguity with Mixing Bets

By Patrick Schmidt

American Economic Journal: Microeconomics, February 2025

Preferences for mixing can reveal ambiguity perception and attitude on a single event. The validity of the approach is discussed for multiple preference classes, including maxmin, maxmax, variational, and smooth second-order preferences. An experimental i...

Estimating Models of Supply and Demand: Instruments and Covariance Restrictions

By Alexander MacKay and Nathan H. Miller

American Economic Journal: Microeconomics, February 2025

We consider the identification of empirical models of supply and demand with imperfect competition. We show that a restriction on the covariance between unobserved demand and cost shocks can resolve endogeneity and identify the price parameter. We demonst...

One Man, One Vote

By Romans Pancs and Tridib Sharma

American Economic Journal: Microeconomics, February 2025

In the United States, electoral districts must be equipopulous. This requirement is known as the one man, one vote doctrine. We propose welfare-based justifications for this requirement under the economic view, according to which voters care about the pol...

Commitment and Conflict in Unanimity Bargaining

By Topi Miettinen and Christoph Vanberg

American Economic Journal: Microeconomics, February 2025

We theoretically investigate how the application of unanimity rule can lead to inefficient delay in collective decision-making. We do so in the context of a distributive multilateral bargaining model featuring strategic precommitment. Prior to each bargai...

A Random Dictator Is All You Need

By Itai Arieli, Yakov Babichenko, Inbal Talgam-Cohen, and Konstantin Zabarnyi

American Economic Journal: Microeconomics, February 2025

We study information aggregation with a decision-maker aggregating binary recommendations from symmetric agents. Each agent's recommendation depends on her private information about a hidden state. While the decision-maker knows the prior distribution ove...

Scoring Strategic Agents

By Ian Ball

American Economic Journal: Microeconomics, February 2025

I introduce a model of predictive scoring. A receiver wants to predict a sender's quality. An intermediary observes multiple features of the sender and aggregates them into a score. Based on the score, the receiver makes a decision. The sender prefers "hi...

Front Matter

American Economic Review, February 2025