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Innovation Adoption by Committee : Evaluating Decision-Making in the FDA
Canen, Nathan J.; Iaryczower, Matiás - National Bureau of Economic Research - 2024
The FDA is responsible for the approval of new drugs, biological products and medical devices in the United States. As part of the approval process, the FDA relies on advisory committees, which provide independent advice from outside experts. We combine a structural approach with newly collected...
Persistent link: https://www.econbiz.de/10015056111
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Bargaining in the Shadow of Uncertainty
Agranov, Marina; Eraslan, Hülya; Tergiman, Chloe - National Bureau of Economic Research - 2022
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
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Liquid Democracy : Two Experiments on Delegation in Voting
Campbell, Joseph; Casella, Alessandra; De Lara, Lucas; … - National Bureau of Economic Research - 2022
Under Liquid Democracy (LD), decisions are taken by referendum, but voters are allowed to delegate their votes to other voters. Theory shows that in common interest problems where experts are correctly identified, the outcome can be superior to simple majority voting. However, even when experts...
Persistent link: https://www.econbiz.de/10013477287
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Eliciting Thresholds for Interdependent Behavior
Janas, Moritz; Nikiforakis, Nikos; Siegenthaler, Simon - National Bureau of Economic Research - 2024
Threshold models have been widely used to analyze interdependent behavior, yet empirical research identifying people's thresholds is nonexistent. We introduce an incentivized method for eliciting thresholds and use it to study support for affirmative action in a large, stratified sample of the...
Persistent link: https://www.econbiz.de/10015056173
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'Morality and Political Economy' from the Vantage Point of Economics
Enke, Benjamin - National Bureau of Economic Research - 2024
This article calls for a greater integration of moral psychology and political economy. While these disciplines were initially deeply intertwined, cross-disciplinary exchange became rare throughout the 20th century. More recently, the tide has shifted again - social scientists of different...
Persistent link: https://www.econbiz.de/10014512133
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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
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Ends versus Means : Kantians, Utilitarians, and Moral Decisions
Bénabou, Roland; Falk, Armin; Henkel, Luca - National Bureau of Economic Research - 2024
Choosing what is morally right can be based on the consequences (ends) resulting from the decision - the Consequentialist view - or on the conformity of the means involved with some overarching notion of duty - the Deontological view. Using a series of experiments, we investigate the overall...
Persistent link: https://www.econbiz.de/10014468273
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Dynamic Optimization Meets Budgeting : Unraveling Financial Complexities
Fenig, Guidon; Petersen, Luba - National Bureau of Economic Research - 2024
This paper explores sources of complexity in dynamic optimization, examining how individuals navigate variation in incomes, prices, and returns in ten-period consumption-saving decisions. Our findings reveal that dynamic optimization poses significant challenges, resulting in suboptimal choices...
Persistent link: https://www.econbiz.de/10015056146
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Charity : Have the Rates of US Households Contributing Money or Time Declined?
Smith, Vincent Kerry - National Bureau of Economic Research - 2024
This paper uses the responses to questions about charitable contributions from the Survey of Consumer Finances (SCF) between 1992 and 2022 to consider the rates of US households contributing money or time to charitable organizations. The fraction donating $500 or more remained relatively...
Persistent link: https://www.econbiz.de/10014576621
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Communication in Vertical Markets : Experimental Evidence
Möllers, Claudia - 2016
-known commitment problem by introducing communication. Allowing the upstream firm to chat privately with each downstream firm reduces … total offered quantity from near the Cournot level (observed in the absence of communication) halfway toward the monopoly … bargaining advantage from open communication that all of the gains from monopolizing the market accrue to them. A simple …
Persistent link: https://www.econbiz.de/10012456456