paper develops an alternative theory in which industries are made up of large plants producing standardized goods and small …

average returns. This rules out typical risk-based explanations and is a challenge to structural models of time …

these incremental bidders at a price below their reserve, with no time to respond. As a consequence, these incremental …

have different validity across time (e.g., banking, borrowing, and seasons) and space (e.g., zonal restrictions), and …

. The imperfect information is endogenized using a variant of the theory of "rational inattention" proposed by Sims (1998 …

Although individuals are all endowed with the same time budgets, time use patterns differ owing to heterogeneity in … human capital allocate time to physically-demanding activities that we characterize as health-producing behaviors. Our data … are drawn from multiple years of the American Time Use Survey (ATUS), which are based on daily time use diaries and …

confirm that the cost of intertemporally substituting activities is increasing over time: when alerts are issued on two …, reset these costs. Our findings imply that a time-varying decision rule that accounts for multiple day air quality forecasts …