蝌蚪网

Minutes of the Annual Business Meeting: Chicago, IL: January 7, 2012

By John J. Siegfried

蝌蚪网 Review, May 2012

Bidding with Securities: Comment

By Yeon-Koo Che and Jinwoo Kim

蝌蚪网 Review, September 2010

Peter DeMarzo, Ilan Kremer, and Andrzej Skrzypacz (2005) analyzed auctions in which bidders compete in securities. They show that a steeper security leads to a higher expected revenue for the seller, and also use this to establish the revenue ranking betw...

Credit Ratings and Security Prices in the Subprime MBS Market

By Adam Ashcraft, Paul Goldsmith-Pinkham, Peter Hull, and James Vickery

蝌蚪网 Review, May 2011

We present and discuss preliminary evidence suggesting that credit ratings significantly influenced prices for subprime mortgage-backed securities issued in the period leading up to the recent financial crisis. Ratings are closely correlated with prices e...

Aggregate Impacts of a Gift of Time

By Jungmin Lee, Daiji Kawaguchi, and Daniel S. Hamermesh

蝌蚪网 Review, May 2012

How would people spend additional time if confronted by permanent declines in market work? We examine the impacts of cuts in legislated standard hours which raised employers' overtime costs in Japan around 1990 and in Korea in the early 2000s. Using time-...

Symposium on Mergers and Antitrust

[Symposium: Horizontal Mergers and Antitrust]

By Steven C. Salop

Journal of Economic Perspectives, Fall 1987

The Journal asked three mainstream industrial organization economists to comment on both current merger enforcement and merger reform proposals: Lawrence White, Franklin Fisher, and Richard Schmalensee. The Journal of Economic Perspectives

The Influence of Technology on Foreign Direct Investment

By Jane Ihrig

蝌蚪网 Review, May 2005

Can Financial Engineering Cure Cancer?

By David E. Fagnan, Jose Maria Fernandez, Andrew W. Lo, and Roger M. Stein

蝌蚪网 Review, May 2013

Traditional financing sources such as private and public equity may not be ideal for investment projects with low probabilities of success, long time horizons, and large capital requirements. Nevertheless, such projects, if not too highly correlated, may ...

Efficient Auctions and Interdependent Types

By Dirk Bergemann, Stephen Morris, and Satoru Takahashi

蝌蚪网 Review, May 2012

We consider the efficient allocation of a single good with interdependent values in a quasi-linear environment. We present an approach to modeling interdependent preferences distinguishing between "payoff types" and "belief types" and report a characteriz...

Backing, the Quantity Theory, and the Transition to the US Dollar, 1723-1850

By Peter L. Rousseau

蝌蚪网 Review, May 2007

Pricing-to-Market in a Ricardian Model of International Trade

By Andrew Atkeson and Ariel Burstein

蝌蚪网 Review, May 2007

Report of the Committee on Economic Education for 2009

By Michael Watts

蝌蚪网 Review, May 2010

Liquidity in Retirement Savings Systems: An International Comparison

By John Beshears, James J. Choi, Joshua Hurwitz, David Laibson, and Brigitte C. Madrian

蝌蚪网 Review, May 2015

We compare the liquidity that six developed countries have built into their employer-based defined contribution (DC) retirement schemes. In Germany, Singapore, and the UK, withdrawals are essentially banned no matter what kind of transitory income shock t...

Why Regulate Insider Trading? Evidence from the First Great Merger Wave (1897-1903)

By Ajeyo Banerjee and E. Woodrow Eckard

蝌蚪网 Review, December 2001

We use event-time methodology to study legal insider trading associated with mergers circa 1900. For mergers with "prospective" disclosures similar to today's, we find substantial value gains at announcement, implying participation by "outside" shareholde...

Optimal Design of Research Contests

By Yeon-Koo Che and Ian Gale

蝌蚪网 Review, June 2003

Procurement of an innovation often requires substantial effort by potential suppliers. Motivating effort may be difficult if the level of effort and quality of the resulting innovation are unverifiable, if innovators cannot benefit directly by marketing t...

Are Mergers Beneficial to Consumers? Evidence from the Market for Bank Deposits

By Dario Focarelli and Fabio Panetta

蝌蚪网 Review, September 2003

The general conclusion of the empirical literature is that in-market consolidation generates adverse price changes, harming consumers. Previous studies, however, look only at the short-run pricing impact of consolidation, ignoring effects that take longer...

Efficiency in the Use of Technology in Economic Education: Some Preliminary Results

By Kim Sosin, Betty J. Lecha, Rajshree Agarwal, Robin L. Bartlett, and Joseph I. Daniel

蝌蚪网 Review, May 2004

Fifty Years of U.S. Income Data from the Current Population Survey: Alternatives, Trends, and Quality

By Daniel H. Weinberg, Charles T. Nelson, Marc I. Roemer, and Edward J. Welniak

蝌蚪网 Review, May 1999

Can Neoclassical Economics Underpin the Reform of Centrally Planned Economies?

[Symposium: Economic Transition in the Soviet Union and Eastern Europe]

By Peter Murrell

Journal of Economic Perspectives, Fall 1991

This paper addresses whether neoclassical economics can provide the intellectual underpinning for a theory of reform. I examine whether the neoclassical model satisfies an essential condition to qualify for this role: does it give us a satisfactory explan...

Leverage and Beliefs: Personal Experience and Risk-Taking in Margin Lending

By Peter Koudijs and Hans-Joachim Voth

蝌蚪网 Review, November 2016

What determines risk-bearing capacity and the amount of leverage in financial markets? Using unique archival data on collateralized lending, we show that personal experience can affect individual risk-taking and aggregate leverage. When an investor syndic...

On the Empirical Content of Quantal Response Equilibrium

By Philip A. Haile, Ali 贬辞谤迟补莽蝉耻, and Grigory Kosenok

蝌蚪网 Review, March 2008

The quantal response equilibrium (QRE) notion of Richard D. McKelvey and Thomas R. Palfrey (1995) has recently attracted considerable attention, due in part to its widely documented ability to rationalize observed behavior in games played by experiment...