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The Essential Role of Altruism in Medical Decision Making

Gertler, Paul J.; Kwan, Ada - National Bureau of Economic Research - 2024

Patients rely on medical care providers to act in their best interests because providers understand disease pathology and appropriate treatment much better than patients. Providers, however, not only give advice (diagnose) but also deliver (sell) treatments based on that advice. This creates a...

Persistent link: https://www.econbiz.de/10014486242

The Effects of Wealth on Health Care Spending : Evidence from the Housing Market

Lovenheim, Michael F.; Yun, Jun Hyun - National Bureau of Economic Research - 2024

The U.S. healthcare system requires substantial out-of-pocket payments by most consumers, which can prevent some from receiving needed medical services. Recent policy proposals seek to address this problem by increasing government health care spending in order to reduce out-of-pocket costs. The...

Persistent link: https://www.econbiz.de/10014635692

A Theory of Fiscal Responsibility and Irresponsibility

Halac, Marina; Yared, Pierre - National Bureau of Economic Research - 2022

We propose a political economy mechanism that explains the presence of fiscal regimes punctuated by crisis periods. Our model focuses on the interaction between successive deficit-biased governments subject to i.i.d. fiscal shocks. We show that the economy transitions between a fiscally...

Persistent link: https://www.econbiz.de/10013435163

The Dynamics of Seller Reputation : Theory and Evidence from eBay

Cabral, Luis - 2004

We propose a basic theoretical model of eBay's reputation mechanism, derive a series of implications and empirically … receives a negative rating for the first time his reputation decreases and so does his effort level. This implies a decline in … more to gain from buying a reputation' by building up a record of favorable feedback through purchases rather than sales …

Persistent link: https://www.econbiz.de/10012468330

A Computable Dynamic Oligopoly Model of Capacity Investment

Gowrisankaran, Gautam; Schmidt-Dengler, Philipp - National Bureau of Economic Research - 2024

This paper analyzes dynamic oligopoly models where investment is the principal strategic variable of interest, there are a large number of investment choices, and there are privately observed shocks to the marginal cost of investment. We show that simulation methods to compute these models can...

Persistent link: https://www.econbiz.de/10014544678

The Streetlight Effect in Data-Driven Exploration

Hoelzemann, Johannes; Manso, Gustavo; Nagaraj, Abhishek; … - National Bureau of Economic Research - 2024

We examine innovative contexts like scientific research or technical R&D where agents must search across many potential projects of varying and uncertain returns. Is it better to possess incomplete but accurate data on the value of some projects, or might there be cases where it is better to...

Persistent link: https://www.econbiz.de/10014544680

Disentangling Exploration from Exploitation

Lizzeri, Alessandro; Shmaya, Eran; Yariv, Leeat - National Bureau of Economic Research - 2024

Starting from Robbins (1952), the literature on experimentation via multi-armed bandits has wed exploration and exploitation. Nonetheless, in many applications, agents' exploration and exploitation need not be intertwined: a policymaker may assess new policies different than the status quo; an...

Persistent link: https://www.econbiz.de/10014544703

Why Did Putin Invade Ukraine? A Theory of Degenerate Autocracy

Egorov, Georgij V.; Sonin, Konstantin - National Bureau of Economic Research - 2023

Many, if not most, personalistic dictatorships end up with a disastrous decision such as Hitler's attack on the Soviet Union, Hirohito's government launching a war against the United States, or Putin's invasion of Ukraine in February 2022. Even if the decision is not ultimately fatal for the...

Persistent link: https://www.econbiz.de/10014250204

Feedback and Contagion through Distressed Competition

Chen, Hui; Dou, Winston Wei; Guo, Hongye; Ji, Yan - National Bureau of Economic Research - 2023

Firms tend to compete more aggressively in financial distress; the intensified competition in turn reduces profit margins, pushing themselves further into distress and adversely affecting other firms. To study such feedback and contagion effects, we incorporate strategic competition into a...

Persistent link: https://www.econbiz.de/10013537735

Information-Constrained Coordination of Economic Behavior

Aridor, Guy; Silveira, Rava Azeredo da; Woodford, Michael - National Bureau of Economic Research - 2024

We analyze a coordination game with information-constrained players. The players' actions are based on a noisy compressed representation of the game's payoffs in a particular case, where the compressed representation is a latent state learned by a variational autoencoder (VAE). Our generalized...

Persistent link: https://www.econbiz.de/10014486205

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