Copyright Infringement in the Market for Digital Images

By Hong Luo and Julie Holland Mortimer

American Economic Review, May 2016

Digital technologies for sharing creative goods create new opportunities for copyright infringement and challenge established enforcement methods. We establish several important facts about the nature of copyright infringement and efforts to settle past i...

Economic Development and the Regulation of Morally Contentious Activities

By Julio J. Elías, Nicola Lacetera, Mario Macis, and Paola Salardi

American Economic Review, May 2017

The regulation of many activities depends on whether societies consider them morally controversial or "repugnant." Not only have regulation and related ethical concerns changed over time, but there is also heterogeneity across countries at a given time. W...

Investment in General Human Capital and Turnover Intention

By Colleen Flaherty Manchester

American Economic Review, May 2010

Matching with Contracts: Comment

By Orhan Aygün and Tayfun Sönmez

American Economic Review, August 2013

The matching with contracts model (Hatfield and Milgrom 2005) is widely considered to be one of the most important advances of the last two decades in matching theory. One of their main messages is that the set of stable allocations is non-empty under a s...

Repression or Civil War?

By Timothy Besley and Torsten Persson

American Economic Review, May 2009

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Appropriation, Property Rights Institutions, and International Trade

By Christodoulos Stefanadis

American Economic Journal: Economic Policy, November 2010

In producer-friendly economies—economies that are ruled by productive agents and have strong property rights institutions—international trade causes an institutional improvement and an aggregate shift of talent towards production, and away fro...

Insiders versus Outsiders in Monetary Policymaking

By Timothy Besley, Neil Meads, and Paolo Surico

American Economic Review, May 2008

Inferior Good and Giffen Behavior for Investing and Borrowing

By Felix Kubler, Larry Selden, and Xiao Wei

American Economic Review, April 2013

The standard assumption that asset demand increases in income and decreases in price has its origin in Arrow's classic model with one risky and one risk free asset, where both are held long, and preferences exhibit decreasing absolute and increasing relat...

An Efficient Dynamic Auction for Heterogeneous Commodities

By Lawrence M. Ausubel

American Economic Review, June 2006

This article proposes a new dynamic design for auctioning multiple heterogeneous commodities. An auctioneer wishes to allocate K types of commodities among n bidders. The auctioneer announces a vector of current prices, bidders report quantities demand...

The Effect of the TseTse Fly on African Development

By Marcella Alsan

American Economic Review, January 2015

The TseTse fly is unique to Africa and transmits a parasite harmful to humans and lethal to livestock. This paper tests the hypothesis that the TseTse reduced the ability of Africans to generate an agricultural surplus historically. Ethnic groups inhabiti...

When Ideas Trump Interests: Preferences, Worldviews, and Policy Innovations

By Dani Rodrik

Journal of Economic Perspectives, Winter 2014

Ideas are strangely absent from modern models of political economy. In most prevailing theories of policy choice, the dominant role is instead played by "vested interests"—elites, lobbies, and rent-seeking groups which get their way at the expense of ...

Identification and Semiparametric Estimation of Equilibrium Models of Local Jurisdictions

By Dennis Epple, Michael Peress, and Holger Sieg

American Economic Journal: Microeconomics, November 2010

We develop a new model of household sorting in a system of residential neighborhoods. We show that this model is partially identified without imposing parametric restrictions on the distribution of unobserved tastes for neighborhood quality and the shape...

Trying to Understand the PPPs in ICP 2011: Why Are the Results So Different?

By Angus Deaton and Bettina Aten

American Economic Journal: Macroeconomics, January 2017

Purchasing power parity exchange rates, or PPPs, are price indexes that summarize prices in each country relative to a numeraire country, typically the United States. These numbers are used to compare living standards across countries, by academics in stu...

Partially Specified Probabilities: Decisions and Games

By Ehud Lehrer

American Economic Journal: Microeconomics, February 2012

The paper develops a theory of decision making based on partially specified probabilities. It takes an axiomatic approach using Anscombe and Aumann's (1963) setting, and is based on the concave integral for capacities. This theory is then expanded to inte...

Reforming Payments to Healthcare Providers: The Key to Slowing Healthcare Cost Growth While Improving Quality?

[Symposium: Constraining Healthcare Costs]

By Mark McClellan

Journal of Economic Perspectives, Spring 2011

This paper focuses on a broad movement toward a fundamentally different way of paying healthcare providers. The approach reaches beyond the old dichotomies about whether healthcare providers are reimbursed on a fee-for-service or a "capitated" or per-pers...

The Fundamental Surplus

By Lars Ljungqvist and Thomas J. Sargent

American Economic Review, September 2017

To generate big responses of unemployment to productivity changes, researchers have reconfigured matching models in various ways: by elevating the utility of leisure, by making wages sticky, by assuming alternating-offer wage bargaining, by introducing co...

Decentralized Exchange

By Semyon Malamud and Marzena Rostek

American Economic Review, November 2017

Most assets are traded in multiple interconnected trading venues. This paper develops an equilibrium model of decentralized markets that accommodates general market structures with coexisting exchanges. Decentralized markets can allocate risk among trad...

Capital Flows: Expansionary or Contractionary?

By Olivier Blanchard, Jonathan D. Ostry, Atish R. Ghosh, and Marcos Chamon

American Economic Review, May 2016

The workhorse open-economy macro model suggests that capital inflows are contractionary because they appreciate the currency and reduce net exports. Emerging market policy makers, however, believe that inflows lead to credit booms and rising output; the e...

Do Consumers Exploit Commitment Opportunities? Evidence from Natural Experiments Involving Liquor Consumption

By B. Douglas Bernheim, Jonathan Meer, and Neva K. Novarro

American Economic Journal: Economic Policy, November 2016

This paper provides evidence concerning the extent to which consumers of liquor employ commitment devices. One widely recommended commitment strategy is to regulate alcohol consumption by deliberately manipulating availability. The paper assesses the prev...