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Local governments spend roughly $1.6 trillion per year to provide a variety of public services ranging from police and fire protection to public schools and public transit. However, we know little about public sector's productivity in delivering key services. To understand the productivity both...
Persistent link: https://www.econbiz.de/10012456586
This paper proposes a method for separating economic time series into a smooth component whose mean varies over time (the trend') and a stationary component (the cycle'). The aim is to make the trends as smooth as possible while also producing cycles with plausible properties. While the main...
Persistent link: https://www.econbiz.de/10012471343
modern behavioral economics. This chapter reviews theory and evidence on this topic, with the goal of facilitating more … processes, biases in belief updating, the representativeness heuristic as a possible unifying theory, and interactions between …
Persistent link: https://www.econbiz.de/10012480852
expectations with less naïve learning rules. Our results suggest that fast and frugal robust heuristics may not be a second …
Persistent link: https://www.econbiz.de/10012481880
Heuristic models have been proposed for many domains of choice. We compare heuristic models of intertemporal choice, which can account for many of the known intertemporal choice anomalies, to discounting models. We conduct an out-of-sample, cross-validated comparison of intertemporal choice...
Persistent link: https://www.econbiz.de/10012457718
thinking may be important. Our results suggest that information-processing heuristics may be important even in markets with …
Persistent link: https://www.econbiz.de/10012461629
Diesel emissions from school buses expose children to high levels of air pollution; retrofitting bus engines can substantially reduce this exposure. Using variation from 2,656 retrofits across Georgia, we estimate effects of emissions reductions on district-level health and academic achievement....
Persistent link: https://www.econbiz.de/10012479593
Two systems of bus driver compensation exist in Santiago, Chile. Most drivers are paid per passenger transported, while a second system compensates other drivers with a fixed wage. Compared with fixed-wage drivers, per-passenger drivers have incentives to engage in "La Guerra por el Boleto"...
Persistent link: https://www.econbiz.de/10012466928
The U.S. public transit system represents a multi-billion dollar industry that provides essential transit services to millions of urban residents. We study the market for new transit buses that features a set of non-profit transit agencies purchasing buses primarily from a few domestic bus...
Persistent link: https://www.econbiz.de/10012458700
-dimensional travel costs, idiosyncratic heterogeneity induced by random wait times, and inattention, matching event-study moments from …
Persistent link: https://www.econbiz.de/10014322757