We present a model for academia with heterogeneous author types and endogenous effort to explain changes in the publication process in Economics. We analyze the implications of these developments on research output. Lowering the precision of refereeing signals has a negative impact on able...

How do macroeconomic expectations affect consumer decisions? This paper reports results from a natural field experiment with 2,872 credit card customers from a large commercial bank to answer this question. Participants of the experiment first completed a survey that measured consumer...

How do macroeconomic expectations affect consumer decisions? This paper reports results from a natural field experiment with 2,872 credit card customers from a large commercial bank to answer this question. Participants of the experiment first completed a survey that measured consumer...

This is a study of market organization in very different settings.In the first chapter, I study how the choices by students to “rush” fraternities, and those of fraternities of whom to admit, interact with the signals that firms receive about student productivities to determine labor market...

Seasonality Analysis of Budget Expenses Related to Regional Budget Balancing

Several recent papers argue that contracts provide reference points that affect ex post behavior. We test this hypothesis in a canonical buyer-seller relationship with renegotiation. Our paper provides causal experimental evidence that an initial contract has a highly significant and...

We present an international trade model with multiproduct firms. Firms are heterogeneously endowed with two types of capabilities that jointly determine the trade-off within firms between managing a large portfolio of products and producing at low marginal cost. The model can explain many of the...

This paper reports data from a laboratory experiment on two-period moral hazard problems. The findings corroborate the contract-theoretic insight that even though the periods are technologically unrelated, due to incentive considerations principals can benefit from offering long-term contracts...