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Optimal Information Disclosure in Classic Auctions

By Dirk Bergemann, Tibor Heumann, Stephen Morris, Constantine Sorokin, and Eyal Winter

American Economic Review: Insights, September 2022

We characterize the revenue-maximizing information structure in the second-price auction. The seller faces a trade-off: more information improves the efficiency of the allocation but creates higher information rents for bidders. The information disclosure...

The Impact of Financial Assistance Programs on Health Care Utilization: Evidence from Kaiser Permanente

By Alyce Adams, Raymond Kluender, Neale Mahoney, Jinglin Wang, Francis Wong, and Wesley Yin

American Economic Review: Insights, September 2022

Most hospitals have financial assistance programs for low-income patients. We use administrative data from Kaiser Permanente to study the effects of financial assistance on health care utilization. Using a regression discontinuity design based on an incom...

The Historical Perspective on the Donald Trump Puzzle: A Review of Barry Eichengreen's The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era

By Konstantin Sonin

Journal of Economic Literature, September 2022

In The Populist Temptation: Economic Grievance and Political Reaction in the Modern Era, Barry Eichengreen relies on historical and contemporary evidence to analyze major episodes of populism in the twenty-first century, the Trump election in the...

The Microeconomics of Cryptocurrencies

By Hanna Halaburda, Guillaume Haeringer, Joshua Gans, and Neil Gandal

Journal of Economic Literature, September 2022

Since its launch in 2009 much has been written about Bitcoin, cryptocurrencies, and blockchains. While the discussions initially took place mostly on blogs and other popular media, we now are witnessing the emergence of a growing body of rigorous academ...

The Political Economy of Populism

By Sergei Guriev and Elias Papaioannou

Journal of Economic Literature, September 2022

We synthesize the literature on the recent rise of populism. First, we discuss definitions and present descriptive evidence on the recent increase in support for populists. Second, we cover the historical evolution of populist regimes since the late nin...