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Regulating Misinformation
Glaeser, Edward L. - 2006
The government has responded to misleading advertising by banning it, engaging in counter-advertising and taxing the product. In this paper, we consider the social welfare effects of those different responses to misinformation. While misinformation lowers consumer surplus, its effect on social...
Persistent link: https://www.econbiz.de/10012465878
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Secrecy Rules and Exploratory Investment : Theory and Evidence from the Shale Boom
Covert, Thomas R.; Sweeney, Richard L. - National Bureau of Economic Research - 2022
We analyze how information disclosure policy affects investment efficiency in non-cooperative settings with information externalities. In a two-firm, two-period model, we characterize equilibrium behavior under policies which disclose whether investment returns exceed a predefined level. These...
Persistent link: https://www.econbiz.de/10013435110
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Political Adverse Selection
Bursztyn, Leonardo; Kolstad, Jonathan; Rao, Aakaash; … - National Bureau of Economic Research - 2022
We study how the politicization of policies designed to correct market failures can undermine their effectiveness. The Patient Protection and Affordable Care Act (ACA) was among the most politically divisive expansions of the US government. We examine whether partisanship distorted enrollment...
Persistent link: https://www.econbiz.de/10013334432
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Information Acquisition and Rating Agencies
Cole, Harold L.; Cooley, Thomas F. - National Bureau of Economic Research - 2023
importance of risk-weighted capital in prudential regulation have more likely contributed to distorted ratings than the matter of …
Persistent link: https://www.econbiz.de/10014322691
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On the Ends of the State : Stationary Bandits and the Time Horizon in Eastern Congo
Henn, Soeren J.; Mugaruka, Christian M.; Ortiz, Miguel; … - National Bureau of Economic Research - 2021
We show that armed actors refrain from using their power to arbitrarily steal from an economy if, and only if, the armed actors' property rights over stealing from that economy are secure. By 2009, armed actors taxed, administered, and protected various villages in Democratic Republic of the...
Persistent link: https://www.econbiz.de/10012510510
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Hold-up, Asset Ownership, and Reference Points
Hart, Oliver - 2007
cooperation. We show that a judicious allocation of asset ownership can help by reducing the incentives to engage in hold up. In …
Persistent link: https://www.econbiz.de/10012465106
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How Large Is the Housing Wealth Effect? A New Approach
Carroll, Christopher D. - 2006
This paper presents a simple new method for estimating the size of 'wealth effects' on aggregate consumption. The method exploits the well-documented sluggishness of consumption growth (often interpreted as 'habits' in the asset pricing literature) to distinguish between short-run and long-run...
Persistent link: https://www.econbiz.de/10012465914
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Real and Private-Value Assets
Goetzmann, William N.; Spaenjers, Christophe; … - National Bureau of Economic Research - 2021
Real and private-value assets--defined here as the sum of real estate, infrastructure, collectibles, and non-corporate business equity--is an investment class worth an estimated $85 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such...
Persistent link: https://www.econbiz.de/10012496134
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Property Rights and Urban Form
Djankov, Simeon; Glaeser, Edward L.; Perotti, Valeria; … - National Bureau of Economic Research - 2021
How do the different elements in the standard bundle of property rights, including those of possession and transfer, influence the shape of cities? This paper incorporates insecure property rights into a standard model of urban land prices and density, and makes predictions about investment in...
Persistent link: https://www.econbiz.de/10012533342
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State Versus Private Ownership
Shleifer, Andrei - 1998
addressed through government contacting and regulation without resort to government ownership. The case for private provision …Private ownership should generally be preferred to public ownership when the incentives to innovate and to contain … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of …
Persistent link: https://www.econbiz.de/10012472146