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Heterogeneous Households under Uncertainty

Veronesi, Pietro - 2019

I characterize a dynamic economy under general distributions of households' risk tolerance, endowments, and beliefs … consumption-share increases; (b) the wealth-share of high risk-tolerant households increases; (c) richer households' wealth … risk sharing. Higher uncertainty increases stock prices, risk premiums, volatility, wealth inequality and the dispersion of …

Persistent link: https://www.econbiz.de/10012479404

Greater Than the Sum of Its Parts : Aggregate vs. Aggregated Inflation Expectations

Dietrich, Alexander M.; Knotek, Edward S.; Myrseth, … - National Bureau of Economic Research - 2023

This paper introduces a novel measure of consumer inflation expectations: We elicit and combine inflation forecasts across categories of personal consumption expenditure to form an aggregated measure of inflation expectations. Drawing on nearly 60,000 respondents, our data comprise the early...

Persistent link: https://www.econbiz.de/10014436953

Randomization for Causality, Ethnography for Mechanisms : Illiquid Savings for Liquor in an Autarkic Society

Godoy, Ricardo A.; Karlan, Dean; Zinman, Jonathan - National Bureau of Economic Research - 2021

What should researchers do when confronted with surprising results? Financial access innovations usually leave "temptation" spending unaffected or reduced. However, we found that promotion of savings lockboxes in a largely autarkic society increased alcohol consumption and blood pressure,...

Persistent link: https://www.econbiz.de/10012794594

(Almost) 200 Years of News-Based Economic Sentiment

Binsbergen, Jules H. van; Bryzgalova, Svetlana; … - National Bureau of Economic Research - 2024

Using text from 200 million pages of 13,000 US local newspapers and machine learning methods, we construct a 170-year-long measure of economic sentiment at the country and state levels, that expands existing measures in both the time series (by more than a century) and the cross-section. Our...

Persistent link: https://www.econbiz.de/10014468226

Safety Reviews on Airbnb : An Information Tale

Culotta, Aron; Jin, Ginger Zhe; Sun, Yidan; Wagman, Liad - National Bureau of Economic Research - 2023

Consumer reviews, especially those expressing concerns of product quality, are crucial for the credibility of online platforms. However, reviews that criticize a product or service may also dissuade buyers from using the platform, creating an incentive to blur the visibility of critical reviews....

Persistent link: https://www.econbiz.de/10014436986

Monetary Policy Communications and their Effects on Household Inflation Expectations

Coibion, Olivier - 2019

We study how different forms of communication influence the inflation expectations of individuals in a randomized controlled trial. We first solicit individuals' inflation expectations in the Nielsen Homescan panel and then provide eight different forms of information regarding inflation....

Persistent link: https://www.econbiz.de/10012479438

A Retrieved-Context Theory Of Financial Decisions

Wachter, Jessica - 2019

Studies of human memory indicate that features of an event evoke memories of prior associated contextual states, which in turn become associated with the current event's features. This mechanism allows the remote past to influence the present, even as agents gradually update their beliefs about...

Persistent link: https://www.econbiz.de/10012480144

Organizational Structure and Pricing : Evidence from a Large U.S. Airline

Hortaçsu, Ali; Natan, Olivia R.; Parsley, Hayden; … - National Bureau of Economic Research - 2021

We study how organizational boundaries affect pricing decisions using comprehensive data from a large U.S. airline. We document that the firm's advanced pricing algorithm, utilizing inputs from different organizational teams, is subject to multiple biases. To quantify the impacts of these...

Persistent link: https://www.econbiz.de/10012696417

When Less is More : Experimental Evidence on Information Delivery During India's Demonetization

Banerjee, Abhijit - 2018

How should policymakers disseminate information: by broadcasting it widely (e.g., via mass media), or letting word spread from a small number of initially informed "seed" individuals? While conventional wisdom suggests delivering information more widely is better, we show theoretically and...

Persistent link: https://www.econbiz.de/10012453041

Political Alignment, Attitudes Toward Government and Tax Evasion

Cullen, Julie Berry - 2018

We ask whether attitudes toward government play a causal role in the evasion of U.S. personal income taxes. We first use individual-level survey data to demonstrate a link between sharing the party of the president and trust in the administration generally and opinions on taxation and spending...

Persistent link: https://www.econbiz.de/10012453391