This paper reports the first test of how exogenous health shocks impact people's longevity expectations. The analysis exploits the panel structure of the Health and Retirement Study and tests whether smokers, former smokers and those who never smoked react differently to serious, smoking related...

Using four waves of the Health and Retirement Survey (HRS) this paper tests whether longevity expectations predict actual mortality at the individual level. The results suggest longevity expectations do predict mortality reasonably well. Serious health shocks and new activity limitations do...

This study investigates the effects of Medicaid and strategic behavior on (1) the probability of entering a nursing home, (2) amounts of formal and informal care provided elderly persons in the community, and (3) asset accumulation. We find that Medicaid subsidies increase the probabilyt of...

For the steel import quota bill of 1999, our answer to the question posed in the title is that each word in the Congressional Record costs $39 in campaign contributions from the steel industry. Consequently, our answer is "Yes."

Evidence suggests that donors have little demand for information before giving to charity. To understand this behavior and its policy implications, we present a model in which each individual can acquire costly information about her true value of charity. We observe that an individual who...

This paper uses data from over 700 felony trials in Sarasota and Lake Counties in Florida from 2000-2010 to examine the role of age in jury selection and trial outcomes. The results of the analysis imply that prosecutors are more likely to use their peremptory challenges to exclude younger...

This paper sets out a new research design to test for price discrimination by sellers in the housing market. The design controls carefully for unobserved differences in the quality of neighborhoods and homes purchased by buyers of each race, using novel panel data from over two million...

Many dynamic problems in economics are characterized by large state spaces which make both computing and estimating the model infeasible. We introduce a method for approximating the value function of high-dimensional dynamic models based on sieves and establish results for the: (a) consistency,...

We consider dynamic games that can have state variables that are partially observed, serially correlated, endogenous, and heterogeneous. We propose a Bayesian method that uses a particle filter to compute an unbiased estimate of the likelihood within a Metropolis chain. Unbiasedness guarantees...