Showing 1 - 10 of 524
This paper shows that the ancestry composition shaped by century-long immigration to the US can explain the current structure of global supply chain networks. Using an instrumental variable strategy, combined with a novel dataset that links firm-to-firm global supply chain information with a US...
Persistent link: https://www.econbiz.de/10014250174
China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in … during the post globalization period (2003-2019) increased by 11.5% of the corresponding pre-globalization period (1984 … contrast, following globalization, the average aggregate domestic profitability of US firms remained flat, and firms employed …
Persistent link: https://www.econbiz.de/10014512056
overall catch quota to a voluntary cooperative, with the remainder exploited as a commons by those choosing to fish …
Persistent link: https://www.econbiz.de/10012462317
Social capital can facilitate community governance, but not all social capital is alike. We distinguish bonding social …
Persistent link: https://www.econbiz.de/10012459468
Much has been written about deterrence, the process of committing to punish an adversary to prevent an attack. But in sufficiently rich environments where attacks evolve over time, formulating a strategy involves not only deterrence but also appeasement, the less costly process of not responding...
Persistent link: https://www.econbiz.de/10014512134
We provide a method to measure welfare, in money-metric terms, taking into account expectations about the future. Our two key assumptions are that (1) the expenditure function is separable between the present and the future, and (2) there are some households that do not face idiosyncratic...
Persistent link: https://www.econbiz.de/10014576596
This paper develops an asset market based test for preference for the timing of resolution of uncertainty. Our main theorem provides a characterization of preference for early resolution of uncertainty in terms of the risk premium of assets realized during the period when the informativeness of...
Persistent link: https://www.econbiz.de/10014248005
Newly-developed large language models (LLM)--because of how they are trained and designed--are implicit computational models of humans--a homo silicus. LLMs can be used like economists use homo economicus: they can be given endowments, information, preferences, and so on, and then their behavior...
Persistent link: https://www.econbiz.de/10014250140
Forecasters predicting how people change their behavior in response to a treatment or intervention often consider a set of alternatives. In contrast, those who are treated are typically exposed to only one of the treatment alternatives. For example, managers selecting a wage schedule consider a...
Persistent link: https://www.econbiz.de/10013435173
We experimentally study unanimity and majority voting rules in multilateral bargaining environments with stochastic future surplus. In these settings, reaching agreement when expected future surplus is sufficiently higher than the current surplus is inefficient. Theoretically, such...
Persistent link: https://www.econbiz.de/10013388790