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�������""������������8�<5��oliiiii}}}%o'o'o'o'o'o'o$q��s<ko�}}}}}ko��ii4`o}f�i�i%o}%oi����@ͱl�������(ovo0�otlt�0t��k$}}}}}}}kokow�}}}�o}}}}��������������������������������������������������������������������t}}}}}}}}}"qs: the american economic review
volume 114, issue 2, february 2024
1. title: distinguishing common ratio preferences from common ratio effects using paired valuation tasks.
authors: mcgranaghan, christina; nielsen, kirby; o'donoghue, ted; somerville, jason; sprenger, charles d.
abstract: without strong assumptions about how noise manifests in choices, we can infer little from existing empirical observations of the common ratio effect (cre) about whether there exists an underlying common ratio preference (crp). we propose to solve this inferential challenge using paired valuations, which yield valid inference under common assumptions. using this approach in an online experiment with 900 participants, we find no evidence of a systematic crp. to reconcile our findings with existing evidence, we present the same participants with paired choice tasks and demonstrate how noise can generate a cre even for individuals without an associated crp.
2. title: the immigrant next door.
authors: bursztyn, leonardo; chaney, thomas; hassan, tarek a.; rao, aakaash.
abstract: we study how decades-long exposure to individuals of a given foreign descent shapes natives' attitudes and behavior toward that group. using individualized donations data, we show that long-term exposure to a given foreign ancestry leads to more generous behavior specifically toward that group's ancestral country. focusing on exposure to arab muslims to examine mechanisms, we show that long-term exposure (i) decreases explicit and implicit prejudice against arab muslims, (ii) reduces support for policies and political candidates hostile toward arab muslims, (iii) increases charitable donations to arab countries, (iv) leads to more personal contact with arab muslims, and (v) increases knowledge of arab muslims and islam.
3. title: the nurture of nature and the nature of nurture: how genes and investments interact in the formation of skills.
authors: houmark, mikkel aagaard; ronda, victor; rosholm, michael.
abstract: this paper studies the interplay between genetics and family investments in the process of skill formation. we model and estimate the joint evolution of skills and parental investments throughout early childhood. we document three genetic mechanisms: the direct effect of child genes on skills, the indirect effect of child genes via parental investments, and family genetic influences captured by parental genes. we show that genetic effects are dynamic, increase over time, and operate via environmental channels. our paper highlights the value of integrating biological and social perspectives into a single unified framework.
4. title: prolonged learning and hasty stopping: the wald problem with ambiguity.
authors: auster, sarah; che, yeon-koo; mierendorff, konrad.
abstract: this paper studies sequential information acquisition by an ambiguity-averse decision-maker (dm), who decides how long to collect information before taking an irreversible action. the agent optimizes against the worst-case belief and updates prior by prior. we show that the consideration of ambiguity gives rise to rich dynamics: compared to the bayesian dm, the dm here tends to experiment excessively when facing modest uncertainty and, to counteract it, may stop experimenting prematurely when facing high uncertainty. in the latter case, the dm's stopping rule is nonmonotonic in beliefs and features randomized stopping.
5. title: gender differences in medical evaluations: evidence from randomly assigned doctors.
authors: cabral, marika; dillender, marcus.
abstract: little is known about what drives gender disparities in health care and related social insurance benefits. using data and variation from the texas workers' compensation program, we study the impact of gender match between doctors and patients on medical evaluations and associated disability benefits. compared to differences among their male patient counterparts, female patients randomly assigned a female doctor rather than a male doctor are 5.2 percent more likely to be evaluated as disabled and receive 8.6 percent more subsequent cash benefits on average. there is no analogous gender-match effect for male patients. our estimates indicate that increasing the share of female patients evaluated by female doctors may substantially shrink gender gaps in medical evaluations and associated outcomes.
6. title: pricing power in advertising markets: theory and evidence.
authors: gentzkow, matthew; shapiro, jesse m.; yang, frank; yurukoglu, ali.
abstract: existing theories of media competition imply that advertisers will pay a lower price in equilibrium to reach consumers who multi-home across competing outlets. we generalize and extend this theoretical result and test it using data from television and social media advertising. we find that the model is a good match, qualitatively and quantitatively, to variation in advertising prices across demographic groups, outlets, platforms, and over time. we use the model to quantify the effects of competition within and across platforms.
7. title: asset-based microfinance for microenterprises: evidence from pakistan.
authors: bari, faisal; malik, kashif; meki, muhammad; quinn, simon.
abstract: we run a field experiment offering graduated microcredit clients the opportunity to finance a business asset worth four times their usual borrowing limit. we implement this using a hire-purchase contract; our control group is offered a zero interest loan at the usual borrowing limit. we find large, significant, and persistent effects: treated microenterprise owners run larger businesses with higher profits; consequently, household consumption increases, particularly on food and children's education. a dynamic structural model with nonconvex capital adjustment costs rationalizes our results and allows counterfactual analysis; this highlights the potential for welfare improvements through large capital injections that are financially sustainable.
8. title: old age risks, consumption, and insurance.
authors: blundell, richard; borella, margherita; commault, jeanne; de nardi, mariacristina.
abstract: in the united states, after age 65, households face income and health risks, and a large fraction of these risks are transitory. while consumption significantly responds to transitory income shocks, out-of-pocket medical expenses do not. in contrast, both consumption and out-of-pocket medical expenses respond to transitory health shocks. thus, most us elderly keep their out-of-pocket medical expenses close to a satiation point that varies with health. consumption responds to health shocks mostly because adverse health shocks reduce the marginal utility of consumption. the effect of health on marginal utility changes the optimal transfers due to health shocks.
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