Economic policies often involve dynamic interventions, where individuals receive repeated interventions over multiple periods. This dynamics makes past responses informative to predict future responses and ultimate outcomes depend on the history of interventions. Despite these phenomena,...

This study investigates how to use regression adjustment to reduce variance in experimental data. We show that the estimators recommended in the literature satisfy an orthogonality property with respect to the parameters of the adjustment. This observation greatly simplifies the derivation of...

In organizations, teams are ubiquitous. "Weakest Link" and "Best Shot" are incentive schemes that tie a group member's compensation to the output of their group's least and most productive member, respectively. In this paper, we test the impact of these incentive schemes by conducting two pilot...

This paper proposes a new way of displaying and analyzing macroeconomic time series to form recession forecasts. The proposed data displays contain the last three years of each expansion. These allow observers to see for themselves what is different about the last year before recession. Based on...

We examine the preferences of low-income households in Kenya over the structure of unconditional cash transfers. We find, first, that most prefer lumpier transfers, and many prefer delayed receipt--unlike the structures typical of safety-net programs, but consistent with evidence on the...

This article examines the risks faced by China's real estate sector within its distinct hybrid economy, which combines market mechanisms with comprehensive state planning and government intervention. The real estate sector holds particular importance as land sale revenues are a crucial source of...

This paper develops a dynamic model of technology adoption featuring strategic complementarities: the benefits of usage increase with the number of adopters. We study the diffusion of new means of payments, where such complementarities are pervasive. We show that complementarities give rise to...

We use a longitudinal dataset measuring beliefs and behaviors to study the dynamics of model - or narrative - adoption during the Covid-19 pandemic. We show that individuals switch beliefs about the effectiveness of preventive behaviors following changes in perceived risk. The adoption of...

We explore the mechanics of empathy. In a controlled immersive virtual reality experiment, we show that neutral information on unauthorized immigration magnifies the empathetic response of subjects when they witness the struggles of unauthorized migrants. We conjecture that perceiving others as...

We measure individual-level loss aversion using three incentivized, representative surveys of the U.S. population (combined N=3,000). We find that around 50% of the U.S. population is loss tolerant, with many participants accepting negative-expected-value gambles. This is counter to earlier...