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McFadden, Daniel - National Bureau of Economic Research - 2023

The elegant economic picture of rational consumers achieving Pareto optimality through trade in decentralized self-organized markets is blurred by market imperfections and choices inconsistent with consumer self-interest. Behavioral economics has documented these errors in choice, and considered...

Persistent link: https://www.econbiz.de/10014250182

Moral Boundaries

Enke, Benjamin - National Bureau of Economic Research - 2023

This article reviews the growing economics literature that studies the politico-economic impacts of heterogeneity in moral boundaries across individuals and cultures. The so-called universalism-versus-particularism cleavage has emerged as a main organizing principle behind various salient...

Persistent link: https://www.econbiz.de/10014372458

A Cognitive Foundation for Perceiving Uncertainty

Bohren, J. Aislinn; Hascher, Josh; Imas, Alex; … - National Bureau of Economic Research - 2024

We propose a framework where perceptions of uncertainty are driven by the interaction between cognitive constraints and the way that people learn about it--whether information is presented sequentially or simultaneously. People can learn about uncertainty by observing the distribution of...

Persistent link: https://www.econbiz.de/10014486240

Diminishing Marginal Utility Revisited

Kimball, Miles S.; Reck, Daniel; Zhang, Fudong; Ōtake, … - National Bureau of Economic Research - 2024

How quickly does marginal utility fall with increasing consumption? It depends on the dimension along which we consider concavity of the utility function. This paper estimates the distribution of heterogeneous curvature parameters in individuals' utility functions from hypothetical choice data,...

Persistent link: https://www.econbiz.de/10014468277

Confidence, Self-Selection and Bias in the Aggregate

Enke, Benjamin; Graeber, Thomas Wilhelm; Oprea, Ryan - National Bureau of Economic Research - 2022

The influence of behavioral biases on aggregate outcomes like prices and allocations depends in part on self-selection: whether rational people opt more strongly into aggregate interactions than biased individuals. We conduct a series of betting market, auction and committee experiments using 15...

Persistent link: https://www.econbiz.de/10013334479

Superiority-Seeking and the Preference for Exclusion

Imas, Alex; Madarász, Kristóf - National Bureau of Economic Research - 2022

cannot have it. We term this motive superiority-seeking, and show that it generates preferences for exclusion that help …, which generates a motive for firms and organizations to cater to such preferences by engaging in exclusionary policies …-seeking generates 'Veblen effects,' rationalizes attitudes against redistribution, and provides a novel motive for social stratification …

Persistent link: https://www.econbiz.de/10013361988

Stress Testing Structural Models of Unobserved Heterogeneity : Robust Inference on Optimal Nonlinear Pricing

Bodoh-Creed, Aaron L.; Hickman, Brent R.; List, John A.; … - National Bureau of Economic Research - 2023

In this paper, we provide a suite of tools for empirical market design, including optimal nonlinear pricing in intensive-margin consumer demand, as well as a broad class of related adverse-selection models. Despite significant data limitations, we are able to derive informative bounds on demand...

Persistent link: https://www.econbiz.de/10014337879

Effects of the Expanded Child Tax Credit on Household Spending : Estimates Based on U.S. Consumer Expenditure Survey Data

Schild, Jake; Collyer, Sophie M.; Garner, Thesia; … - National Bureau of Economic Research - 2023

The Child Tax Credit (CTC) was substantially expanded through the American Rescue Plan Act of 2021, making the benefit more generous, fully refundable, and more periodic. Early studies documented the positive impact of the expanded CTC on reducing poverty and food insufficiency, but there is...

Persistent link: https://www.econbiz.de/10014322799

Policy Diffusion Through Elections

Shigeoka, Hitoshi; Watanabe, Yasutora - National Bureau of Economic Research - 2023

Staggered difference-in-differences designs are pervasive in policy evaluations but little is known about the mechanisms of policy diffusion: How and why do such policies spread across jurisdictions? In this study, we highlight the role of elections in policy diffusion in settings where...

Persistent link: https://www.econbiz.de/10014322828

M&A and Technological Expansion

Jin, Ginger Zhe; Leccese, Mario; Wagman, Liad - National Bureau of Economic Research - 2023

We examine how public firms listed in North American stock exchanges acquire technology companies during 2010-2020. Combining data from S&P, Refinitiv, Compustat, and CRSP, and utilizing a unique S&P taxonomy that classifies tech M&As by tech categories and business verticals, we show that 13.1%...

Persistent link: https://www.econbiz.de/10014250144