Economics
Recent Submissions
-
Optimal Taxation with Risky Human Capital
(American Economic Association, 2019)We study optimal tax policies in a life-cycle economy with permanent ability differences and risky human capital investments that have both an unobservable component, learning effort, and an observable component, schooling. ... -
Bringing Health and the Environment into Decision-Making: The Natural Capital Approach
(Rockefeller Foundation Economic Council on Planetary Health, 8 February 2018)Planetary Health seeks to meet the health needs of present and future humans without compromising the natural systems on which that health depends1. To achieve this aim, society has to adopt a way of making decisions that ... -
Strategic Experimentation with Asymmetric Players
(Springer (part of Springer Nature), 22 April 2019)We examine a two-player game with two-armed exponential bandits à la (Keller et al. in Econometrica 73:39–68, 2005), where players operate different technologies for exploring the risky option. We characterise the set of ... -
A Varying-Coefficient Panel Data Model with Fixed Effects: Theory and An Application to U.S. Commercial Banks
(Elsevier, 1 January 2017)In this paper, we propose a semiparametric varying-coefficient categorical panel data model in which covariates (variables affecting the coefficients) are purely categorical. This model has two features: first, fixed effects ... -
The exposure problem and market design
(Oxford University Press (OUP), 21 June 2019)Markets have an exposure problem when getting to the optimal allocationrequires a sequence of transactions which if started but not completed leavesat least one trader with losses. We use laboratory experiments ...