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Ohio announced a Vax-a-Million Lottery in May 2021 to encourage people vaccinated. If people may avoid vaccination … because (1) they worry about rare but critical side effects or (2) they want to free ride on herd immunity, the vaccination … effectiveness of the vaccination lottery over a lump-sum transfer. Overall, vaccination lottery works better, and it particularly …
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Socially responsible behavior is crucial for slowing the spread of infectious diseases. However, economic and epidemiological models of disease transmission abstract from prosocial motivations as a driver of behaviors that impact the health of others. In an incentivized study, we show that a...
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Seminal models of herd behaviour and informational cascades point out existence of negative information externalities … behaviour more consistent with the theory that in turn produces the predicted efficiency gain. …
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A recent stream of experimental economics literature studies the factors that contribute to the emergence of financial bubbles. We consider a setting where participants sorted according to their degree of risk aversion trade in experimental asset markets. We show that risk sorting is able to...
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The Lucas (1978) Tree Model lies at the heart of modern macro-finance. At its core, it provides an analysis of the equilibrium price of a long-lived asset in an exchange economy where consumption is the objective, and the sole purpose of the asset is to smooth consumption through time....
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Using a large-scale survey of U.S. households during the Covid-19 pandemic, we study how new information about fiscal and monetary policy responses to the crisis affects households' expectations. We provide random subsets of participants in the Nielsen Homescan panel with different combinations...
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