formalize this cognitive bias in a simple model of distorted Bayesian updating. We then examine strategy changes made by … professional football coaches. We find they are more likely to revise their strategy after a loss than a win -- even for narrow … expected, and the offensive strategy is revised even when failure is attributable to the defense. These results are consistent …

previous Boston mechanism, a priority matching mechanism, and the case in favor of the change to a strategy-proof mechanism … unassigned students could have been assigned to one of their stated choices with a different strategy under the current mechanism …. This interaction between sophisticated and unsophisticated players identifies a new rationale for strategy-proof mechanisms …

The pace of innovation is related both to the level of investment in innovation and the pool of knowledge from which … innovators can draw. Both of these are endogenous: Investments in innovations are affected by the pool of knowledge and the … and design of IPR affects the extent to which any innovation adds to or subtracts from the pool of ideas that are …

Innovation is often predicated on discovering useful new combinations of existing knowledge in highly complex knowledge …. Separate parameters control the extent of individual-researcher knowledge access, the effects of fishing out/complexity, and …, and particle physics. We develop a combinatorial-based knowledge production function and embed it in the classic Jones …

knowledge accumulates as technology progresses, then successive generations of innovators may face an increasing educational … negative implications for growth. I develop a formal model of this "knowledge burden mechanism" and derive six testable … sufficiently rapid increase in the burden of knowledge. In cross-section, the model predicts that specialization and teamwork will …

information. We also find that the relative importance of knowledge sources varies systematically with the type of innovation … organization that one of the main drivers of differences in productivity is differences in knowledge. We examine a new data set of … detailed measures of knowledge outputs, knowledge investments, and sources of existing knowledge. We find that globally engaged …

This paper analyzes the timing, pace and efficiency of the on- going job reallocation that results from product and … process innovation. There are strong reasons why an efficient economy ought to concentrate both job creation and destruction … policies can restore economic efficiency …

the decrease in control by the media and other monitors might have made it easier for incumbent congressmen to collect …

3000 households, we find little support for the negative consequences of control in naturally-occurring labor markets. In …