In this study we build a simultaneous equation model in which the measures of different aspects of globalization (attributable to KOF) and different aspects of democracy (attributable to EIU) are related in seven structural equations. A bi-directional relationship between democracy and...

The Two-Stage Least squares method for obtaining the estimated structural coefficients of a simultaneous linear equations model is a celebrated method that uses OLS at the first stage for estimating the reduced form coefficients and obtaining the expected values in the arrays of current...

I examine the role of intermediaries on the world's largest peer-to-peer online lending platform. This marketplace as well as other recently opened lending websites allow people to auction microcredit over the internet and are in line with the disintermediation in financial transactions through...

This paper studies A+B (cost-plus-time) procurement contracting with time incentives in the highway construction industry. In the presence of construction uncertainty, the contractor's actual completion time may deviate from the bid completion time, and the A+B contract design is not ex post...

We study identification and inference in first-price auctions with risk averse bidders and selective entry, building on a flexible entry and bidding framework we call the Affiliated Signal with Risk Aversion (AS-RA) model. Assuming that the econometrician observes either exogenous variation in...

The Japanese government switched the auction format from uniform to discriminatory for its 30-year Japanese government bond (JGB) in 2007. Taking advantage of this policy change, we examine data before and after this period to assess whether the switch has lowered the borrowing costs of the...

This paper develops a method for identifying and estimating student preferences in centralized matching mechanisms when students are ranked by exam scores. In these mechanisms, exam scores contain important information for inferring students' heterogeneous preferences because students have...

Weak contract enforcement may reduce the efficiency of investment in developing countries. I study how contract enforcement affects efficiency in procurement auctions for the largest power projects in India. I gather data on bidding and ex post contract renegotiation and find that the...

The strategy frequency estimation method (Dal B´o and Fr´echette, 2011) allows us to estimate the fraction of subjects playing each of a list of strategies in an infinitely repeated game. Currently, this method assumes that subjects tremble with the same probability. This paper extends this...