Browsing by Type "Scholarly edition"

Now showing 1 - 12 of 12
  • No Thumbnail Available
    ItemMetadata only
  • Thumbnail Image
    ItemOpen Access
  • Thumbnail Image
    ItemOpen Access
    Balancing Cost and Emissions Certainty: An Allowance Reserve for Cap-and-Trade
    (2008-07-15) Murray, BC; Newell, RG; Pizer, WA
  • Thumbnail Image
    ItemOpen Access
    Designing Climate Mitigation Policy
    (2009-06) Aldy, JE; Krupnick, AJ; Newell, RG; Parry, IWH; Pizer, WA
  • Thumbnail Image
    ItemOpen Access
    Environmental and Technology Policy Options in the Electricity Sector: Interactions and Outcomes
    (2014-04-14) Fischer, Carolyn; Newell, Richard G; Preonas, Louis
  • Thumbnail Image
    ItemOpen Access
    Gender, Friendship and
    (2016-08-01) Felmlee, Diane; Peoples, Crystal
    Gender interacts in noteworthy ways with the vital bond of friendship. Women tend to emphasize self‐disclosure in friendships more often than men, whereas men stress shared activities and instrumentality. Patterns emerge among the social norms or expectations that characterize friendships. Thus women react more negatively than men to violations of trust and intimacy and have higher expectations from their friends, especially regarding communion; men have higher expectations concerning friends' agency. Both sociocultural and contextual structural factors contribute to gender discrepancies. Differences can be exaggerated, however, and it remains important not to discount similarities between women and men. Friendship ties also tend to be segregated by gender – that is, to exhibit gender homophily (i.e., friendships with those of the same gender); and this type of homophily contributes to the development of societal gender inequality. Cross‐gender and cross‐sexual orientation friendships, however, challenge traditional gender assumptions. Finally, the Internet represents a novel frontier in research on the intersections between gender and the crucial ties of friendship.
  • Thumbnail Image
    ItemOpen Access
    Indexed Regulation
    Newell, RG; Pizer, WA
    Seminal work by Weitzman (1974) revealed prices are preferred to quantities when marginal benefits are relatively flat compared to marginal costs. We extend this comparison to indexed policies, where quantities are proportional to an index, such as output. We find that policy preferences hinge on additional parameters describing the first and second moments of the index and the ex post optimal quantity level. When the ratio of these variables' coefficients of variation divided by their correlation is less than approximately two, indexed quantities are preferred to fixed quantities. A slightly more complex condition determines when indexed quantities are preferred to prices. Applied to climate change policy, we find that the range of variation and correlation in country-level carbon dioxide emissions and GDP suggests the ranking of an emissions intensity cap (indexed to GDP) compared to a fixed emission cap is not uniform across countries; neither policy clearly dominates the other.
  • Thumbnail Image
    ItemOpen Access
    “Nash-in-Nash” Bargaining: A Microfoundation for Applied Work
    (2019-02-01) Collard-Wexler, A; Gowrisankaran, G; Lee, RS
    © 2019 by The University of Chicago. All rights reserved. A “Nash equilibrium in Nash bargains” has become a workhorse bargaining model in applied analyses of bilateral oligopoly. This paper proposes a noncooperative foundation for “Nash-in-Nash” bargaining that extends Rubinstein’s alternating offers model to multiple upstream and downstream firms. We provide conditions on firms’ marginal contributions under which there exists, for sufficiently short time between offers, an equilibrium with agreement among all firms at prices arbitrarily close to Nash-in-Nash prices, that is, each pair’s Nash bargaining solution given agreement by all other pairs. Conditioning on equilibria without delayed agreement, limiting prices are unique. Unconditionally, they are unique under stronger assumptions.
  • Thumbnail Image
    ItemOpen Access
    New Minimum Chi-Square Methods in Empirical Finance
    (1996-04) Tauchen, George
  • Thumbnail Image
    ItemOpen Access
    Specification Analysis of Continuous Time Models in Finance
    (1995-10) Gallant, A Ronald; Tauchen, George
  • Thumbnail Image
    ItemOpen Access
    The Earned Income Tax Credit
    Hotz, V Joseph; Scholz, John Karl
    Since its inception in 1975, the Earned Income Tax Credit (EITC) has grown into the largest, Federally-funded means-tested cash assistance program in the United States. In this chapter, we review the political history of the EITC, its rules and goals and provide a broad set of program statistics on its growth and coverage. We summarize conceptual underpinnings of much of the recent economic research on the EITC, discussing participation in the credit and compliance with its provisions, and its effects on labor force participation and hours of work, marriage and fertility, skill formation and consumption. We note that participation rates of the credit are high, rates of credit noncompliance are also high, and that there are theoretical reasons to prefer the EITC to other anti-poverty programs if one's objective is to encourage work among the poor. We also note that the predicted effects of the EITC are not all pro-work, especially with respect to hours and its labor market incentives for two-earner couples. We then summarize the existing empirical research on the behavioral effects of the EITC, paying particularly emphasis to the effects of the 1986, 1990 and 1993 expansions of the credit on labor force participation and hours of work. The literature provides consistent evidence, generated from a variety of empirical approaches, that the EITC positively affects labor force participation. The literature also finds smaller, negative effects on hours of work for people already in the labor market and for secondary workers. We conclude the chapter with a discussion of the ongoing EITC-related policy debates and highlight what, if any, critical economic issues underlie these debates.
  • Thumbnail Image
    ItemOpen Access
    Tom Sawyer and the construction of value
    (2006-05-01) Ariely, D; Loewenstein, G; Prelec, D
    This paper challenges the common assumption that economic agents know their tastes. After reviewing previous research showing that valuation of ordinary products and experiences can be manipulated by non-normative cues, we present three studies showing that in some cases people do not have a pre-existing sense of whether an experience is good or bad-even when they have experienced a sample of it. © 2005 Elsevier B.V. All rights reserved.