Dynamic Competition With Network Externalities: Why History Matters, Hanna Halaburda, Bruno Jullien, Yaron Yehezkel
Dec 2019
Dynamic Competition With Network Externalities: Why History Matters, Hanna Halaburda, Bruno Jullien, Yaron Yehezkel
Hanna Halaburda
This paper considers dynamic platform competition in a market with network externalities. A platform that dominated the market in the previous period becomes ``focal" in the current period, in that agents play the equilibrium in which they join the focal platform whenever such equilibrium exists. We ask whether a low-quality but focal platform can maintain its focal position along time, when it faces a higher quality competitor. Under finite horizon, we find that when platforms are patient enough, the unique equilibrium is efficient. With infinite horizon, however, there are multiple equilibria in which either the low or the high quality …
Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec
Jul 2019
Local Environmental Quality And Inter-Jurisdictional Spillovers, John W. Hatfield, Katrina Kosec
Katrina Kosec
We investigate the classic question of how the provision of a local publicly-provided good--air quality--varies with the degree of decentralization of policymaking. Exploiting exogenous variation in the natural topography of the United States to instrument for the number of local government jurisdictions in a metropolitan area, we show that areas with more jurisdictions have significantly lower air quality, and significantly higher concentrations of the toxic air pollutants most closely associated with cancer and non-cancer health risks. Moreover, we estimate that this increase in pollution lowers housing values by at least 3%. By contrast, local drinking water quality--a publicly-provided good not …
Cv, Oscar E. Macchioni
May 2019
Cv, Oscar E. Macchioni
Oscar Macchioni
Last update June 2019
Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa
Dec 2017
Investor Valuations Of Japan's Adoption Of A Territorial Tax Regime: Quantifying The Direct And Competitive Effects Of International Tax Reform, Sebastien J. Bradley, Estelle Dauchy, Makoto Hasegawa
Sebastien J Bradley
Despite an extensive literature on the normative implications of different international tax regimes and an empirical literature addressing individual specific predictions, there exists little evidence encompassing the broad range of effects of taxing corporations' foreign-source income on a worldwide or territorial basis. This paper takes a more comprehensive quantitative approach by examining stock market reactions surrounding four events over the course of which Japan's 2009 adoption of a dividend exemption system was developed into proposed law. Using an event study methodology which leverages individual firm characteristics and accounts for contemporaneous financial market developments, we find that Japanese firms with less …
Simulating Hospital Merger Simulations, David J. Balan, Keith Brand
Dec 2017
Simulating Hospital Merger Simulations, David J. Balan, Keith Brand
David J. Balan
We assess the performance of three hospital merger simulation methods by means of a Monte Carlo experiment. We fi#12;rst specify a rich theoretical model of hospital markets and use it to generate "true" price eff#11;ects of a large number of hospital mergers. We then use the theoretical model to generate the data that would be available in a real-world prospective merger analysis and apply the merger simulation methods to those data. Finally, we compare the predictions of the merger simulation methods to the true price eff#11;ects. While there is some heterogeneity in performance, all three simulation methods perform reasonably well.
Competing By Restricting Choice: The Case Of Search Platforms, Hanna Halaburda, Mikolaj Jan Piskorski, Pinar Yildirim
Dec 2017
Competing By Restricting Choice: The Case Of Search Platforms, Hanna Halaburda, Mikolaj Jan Piskorski, Pinar Yildirim
Hanna Halaburda
We show that a two-sided platform can successfully compete by limiting the choice of potential matches it offers to its customers while charging higher prices than platforms with unrestricted choice. Starting from micro-foundations, we derive the strength and direction of network effect, and find that increasing the number of potential matches not only has a positive effect due to larger choice, but also a negative effect due to competition between agents on the same side. Agents with heterogeneous outside options resolve the trade-off between the two effects differently. For agents with a lower outside option, the competitive effect is stronger …
"Information, Risk Sharing And Incentives In Agency Problems", Jia Xie
Aug 2017
"Information, Risk Sharing And Incentives In Agency Problems", Jia Xie
Jia Xie
This paper studies the use of information for incentives and risk sharing in agency problems. When the principal is risk neutral or the outcome is contractible, risk sharing is unnecessary or dealt with by a contract on the outcome. In this case, information systems are ranked only according to their informativeness about the agent's action. When the outcome is noncontractible, however, the principal has to rely on imperfect information not only for incentives, but also for risk sharing. Under the first-order approach, this paper characterizes a problem-independent ranking of information systems, relaxing Gjesdal's (1982) criterion. We also find sufficient conditions …
6dewa.Net Agen Judi Bandarq Domino99 Capsa Susun Aduq Dan Bandar Poker Online Indonesia, Defaonline Com
Jun 2017
6dewa.Net Agen Judi Bandarq Domino99 Capsa Susun Aduq Dan Bandar Poker Online Indonesia, Defaonline Com
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Kebunpoker.Com Agen Judi Domino99 Agen Poker Bandarq Online Terpercaya Di Indonesia, Defa Online
Jun 2017
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Agen Bola Terpercaya Warung757.Net, Defaonline Blog
May 2017
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Jual Obat Aborsi, Defaonline Blog
May 2017
Jual Obat Aborsi, Defaonline Blog
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Aslidomino.Com Agen Domino Online Uang Asli Terpercaya Indonesia, Defaonline Blog
May 2017
Aslidomino.Com Agen Domino Online Uang Asli Terpercaya Indonesia, Defaonline Blog
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6dewa.Net Agen Judi Bandarq Domino99 Capsa Susun Aduq Dan Bandar Poker Online Indonesia, Defaonline Blog
May 2017
6dewa.Net Agen Judi Bandarq Domino99 Capsa Susun Aduq Dan Bandar Poker Online Indonesia, Defaonline Blog
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Inulpoker.Net Agen Poker Online Dan Bandar Ceme Online Terbaik Terpercaya, Defaonline Blog
Mar 2017
Inulpoker.Net Agen Poker Online Dan Bandar Ceme Online Terbaik Terpercaya, Defaonline Blog
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Integrated Assessment Models And The Social Cost Of Carbon: A Review And Assessment, Gilbert E. Metcalf, James Stock
Feb 2017
Integrated Assessment Models And The Social Cost Of Carbon: A Review And Assessment, Gilbert E. Metcalf, James Stock
Gilbert E. Metcalf
We consider the role of integrated assessment models (IAMs) in estimating the social cost of carbon (SCC) for U.S. regulatory purposes. Our approach is rooted in the needs of U.S. institutions responsible for making and implementing climate policy, specifically regulatory agencies within the Executive Branch and Congress should it choose to take up climate legislation. We argue, first, that policy makers need a numerical value for the SCC for policy evaluation and implementation. This cannot be done credibly without sophisticated computer models that incorporate climate and economic considerations, that is, without IAMs. Second, whatever the true value of the SCC …
Inattention To Deferred Increases In Tax Bases: How Michigan Homebuyers Are Paying For Assessment Limits, Sebastien J. Bradley
Feb 2017
Inattention To Deferred Increases In Tax Bases: How Michigan Homebuyers Are Paying For Assessment Limits, Sebastien J. Bradley
Sebastien J Bradley
The Michigan property tax system gives rise to wide variation in taxable basis across comparable homes due to the application of acquisition-value based assessment limits. Exploiting the fact that the resulting differences in property tax liability are temporarily inherited by new homebuyers, I estimate the degree of capitalization of these largely-idiosyncratic tax differences in a setting free of many of the econometric problems that typically plague estimation of property tax capitalization in order to evaluate whether homebuyers understand the tax implications of their home purchases. Consistent with anecdotal evidence, I find that homebuyers are woefully inattentive to the temporary nature …
The Social And Political Consequences Of Group Empathy, Cigdem V. Sirin, Nicholas A. Valentino, José D. Villalobos
Dec 2016
The Social And Political Consequences Of Group Empathy, Cigdem V. Sirin, Nicholas A. Valentino, José D. Villalobos
José D. Villalobos
No abstract provided.
Identifying And Investigating The “Best” Schools: A Network-Based Analysis, Priyadarshani Joshi
Dec 2016
Identifying And Investigating The “Best” Schools: A Network-Based Analysis, Priyadarshani Joshi
Priyadarshani Joshi
This paper aims to provide a fresh perspective to the predominantly negative discourse on schooling quality in low-income countries by focusing on the research questions: how can one identify great schools, and what makes them special? Using a network-based perspective, I measure peer evaluations of quality in two districts in Nepal. Specifically, I ask principals to mention three schools they view as the “best” schools in their district, and then map the interconnections between schools as a result of this response. I additionally analyze the differentiating characteristics of these schools, and qualitatively investigate the most frequently cited “best” school in …
Determinants Of Homeownership Among Immigrants: Changesduring The Great Recession And Beyond, Kusum Mundra, Ruth Uwaifo Oyelere
Dec 2016
Determinants Of Homeownership Among Immigrants: Changesduring The Great Recession And Beyond, Kusum Mundra, Ruth Uwaifo Oyelere
Ruth Uwaifo Oyelere
No abstract provided.
Committee Design With Endogenous Participation, Volker Hahn
Dec 2016
Committee Design With Endogenous Participation, Volker Hahn
Volker Hahn
We analyze different committee designs in a model with the endogenous participation of experts who have private information about their own abilities. Each committee design involves a test of abilities whose accuracy influences experts’ decisions to participate. We derive the following findings. First, higher wages lead to lower quality experts. Second, an increase in transparency improves the quality of experts on the committee. Third, larger committees attract less able experts than smaller ones, unless the committee operates under full transparency. Fourth, we derive the properties of optimal committees. They involve low wages and can be transparent or opaque.
Who Is Misleading Whom In Real Estate Transactions?, Jia Xie
Dec 2016
Who Is Misleading Whom In Real Estate Transactions?, Jia Xie
Jia Xie
The observation that real estate agents sell their clients' homes cheaper and faster than their own homes has been well identified in the literature and interpreted as evidence of an agency problem originated from information asymmetry. This article studies whether this well-known result holds true for all types of agents and clients, and whether information asymmetry is the full story. By using the Multiple Listing Service (MLS) data from Indiana, we find that, after controlling for observables, mainly homes owned by institutional clients are sold cheaper and faster than agent-owned homes, and the differences are mainly driven by less and …
Mimesis: Foot Washing From Luke To John, Keith L. Yoder
Nov 2016
Mimesis: Foot Washing From Luke To John, Keith L. Yoder
Keith L. Yoder
In this paper I argue that the Foot Washing of John 13:1–17, as literary composition, is a creative imitation of the Foot Washing and Anointing of Luke 7:36–50. Comparison of the respective settings, action descriptions, dialogs, and transitions brings to light a large array of mostly unexplored literary connections between these two texts. Analysis of the parallel features reveals a high level of density, order, and distinctiveness that clearly establishes an intertextual relationship of creative imitation, that combination of mimēsis and zēlōsis widely practiced by authors in antiquity. Key markers of directionality arising from the evidence points to Luke's text …
What Is Answer Set Programming To Propositional Satisfiability, Yuliya Lierler
Nov 2016
What Is Answer Set Programming To Propositional Satisfiability, Yuliya Lierler
Yuliya Lierler
Propositional satisfiability (or satisfiability) and answer set programming are two closely related subareas of Artificial Intelligence that are used to model and solve difficult combinatorial search problems. Satisfiability solvers and answer set solvers are the software systems that find satisfying interpretations and answer sets for given propositional formulas and logic programs, respectively. These systems are closely related in their common design patterns. In satisfiability, a propositional formula is used to encode problem specifications in a way that its satisfying interpretations correspond to the solutions of the problem. To find solutions to a problem it is then sufficient to use a …
Enhancing Public Engagement On Offshore Wind Energy Using Genius Loci: A Case Study From A Lake Michigan Coastal Community, Erik Edward Nordman, Daniel O'Keefe, Erika Arndt
Sep 2016
Enhancing Public Engagement On Offshore Wind Energy Using Genius Loci: A Case Study From A Lake Michigan Coastal Community, Erik Edward Nordman, Daniel O'Keefe, Erika Arndt
Erik Edward Nordman
We describe a novel approach to public engagement on offshore wind energy based on genius loci (“spirit of a place”). North America lacks offshore wind farms but they could be viable in the Great Lakes. Cultural ties between coastal Michigan, USA and the Netherlands offered opportunities to learn from the Dutch offshore wind experience. Residents from a Lake Michigan coastal community with Dutch heritage videoconferenced with a Dutch tourism specialist regarding the Egmond aan Zee offshore wind farm. Important differences and similarities between the regions emerged, including the clustering of technological expertise, tourism effects, and perspectives on working seascapes. Michigan …
Constraint Cnf: A Sat And Csp Language Under One Roof, Broes De Cat, Yuliya Lierler
Sep 2016
Constraint Cnf: A Sat And Csp Language Under One Roof, Broes De Cat, Yuliya Lierler
Yuliya Lierler
A new language, called constraint CNF, is proposed. It integrates propositional logic with constraints stemming from constraint programming (CP). A family of algorithms is designed to solve problems expressed in constraint CNF. These algorithms build on techniques from both propositional satisfiability (SAT) and CP. The result is a uniform language and an algorithmic framework, which allow us to gain a deeper understanding of the relation between the solving techniques used in SAT and in CP and apply them together.
Group Empathy Theory: The Effect Of Group Empathy On U.S. Intergroup Attitudes And Behavior In The Context Of Immigration Threats, Cigdem Sirin, Nicholas Valentino, José Villalobos
Aug 2016
Group Empathy Theory: The Effect Of Group Empathy On U.S. Intergroup Attitudes And Behavior In The Context Of Immigration Threats, Cigdem Sirin, Nicholas Valentino, José Villalobos
José D. Villalobos
Group Empathy Theory posits empathy felt by members of one group can boost support for another even when the groups are in direct competition for rights, security, and resources. We employ our theory to explain divergent reactions of majority versus minority groups to immigration threats. We conduct a two-wave national survey experiment with 1,799 participants consisting of a randomized sample of Anglos and randomized, stratified oversamples of African Americans and Latinos. The experiment manipulates racial/ethnic cues in a vignette depicting an ambiguous yet potentially threatening incident at an immigrant detention center. African Americans and Latinos are significantly more likely to …
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Aug 2016
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Persistence In Industrial Policy Impacts: Evidence From Depression-Era Mississippi, Matthew Freedman
Jul 2016
Persistence In Industrial Policy Impacts: Evidence From Depression-Era Mississippi, Matthew Freedman
Matthew Freedman
This paper studies the effects of a large-scale industrial policy implemented in 1930s Mississippi on contemporaneous and modern-day labor market outcomes. Attracted by unprecedented government incentives under Mississippi’s Balance Agriculture with Industry (BAWI) Program, 13 large manufacturing plants established operations in the state between 1936 and 1940. Using difference-in-differences and synthetic control matching techniques, I estimate that counties that received these plants experienced an over 15% increase in female labor force participation on average in the short run. Moreover, these effects persisted decades into the future, well after many of the original companies shut down. I also find suggestive evidence …
The Position Of The Eastern Association For The Surgery Of Trauma On The Future Of Trauma Surgery., Michael F Rotondo, Thomas J Esposito, Patrick M Reilly, Philip S Barie, J Wayne Meredith, Virginia A Eddy, Reuven Rabinovici, Lenworth M Jacobs, Paul R G Cunningham, Eric R Frykberg, Michael Rhodes, Michael D. Pasquale Md, Facs, Fccm, Blaine L Enderson, John J Locurto, Nabil A Atweh, Rao R Ivatury
Jun 2016
The Position Of The Eastern Association For The Surgery Of Trauma On The Future Of Trauma Surgery., Michael F Rotondo, Thomas J Esposito, Patrick M Reilly, Philip S Barie, J Wayne Meredith, Virginia A Eddy, Reuven Rabinovici, Lenworth M Jacobs, Paul R G Cunningham, Eric R Frykberg, Michael Rhodes, Michael D. Pasquale Md, Facs, Fccm, Blaine L Enderson, John J Locurto, Nabil A Atweh, Rao R Ivatury
Michael D Pasquale MD, FACS, FCCM
No abstract provided.
Utility Of Chest Radiographs After Guidewire Exchanges Of Central Venous Catheters., P Frassinelli, Michael D. Pasquale Md, Facs, Fccm, M D Cipolle, M Rhodes
Jun 2016
Utility Of Chest Radiographs After Guidewire Exchanges Of Central Venous Catheters., P Frassinelli, Michael D. Pasquale Md, Facs, Fccm, M D Cipolle, M Rhodes
Michael D Pasquale MD, FACS, FCCM
OBJECTIVE: To determine whether chest radiographs are warranted after uncomplicated guidewire exchanges of central venous catheters in patients admitted to a Level I trauma intensive care unit.
DESIGN: Prospective study performed in two phases.
SETTING: Intensive care unit in a Level I trauma center.
PATIENTS: Patients admitted to a Level I trauma center intensive care unit who required central venous catheter guidewire exchanges.
INTERVENTIONS: Criteria for uncomplicated guidewire exchanges were established and followed. A catheter exchange checklist was completed at each procedure, and a chest radiograph was performed after each guidewire exchange. The complications followed were catheter malposition, pneumothorax, hemothorax, …
