We experimentally study the impact of adding an explicit nil vote option to the ballot in both compulsory and voluntary voting settings. We investigate this issue in an informational voting setting, in which some voters ...

A review essay of Roman Frydman & Michael D. Goldberg’s Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State.

Using data from a Canadian field experiment designed to elicit risk and time preferences and quantify financial barriers to higher education, we estimate the distribution of the value of financial aid for prospective students, ...

In 2007, Michigan began requiring all high school students to take the ACT college entrance exam. This natural experiment allows us to evaluate the performance of several parametric and semiparametric sample selection correction ...

In many contracting settings, actions costly to one party but with no direct benefits to the other (money-burning) may be part of the explicit or implicit contract. A leading example is bureaucratic procedures in ...

This paper investigates the role played by informational frictions in college and the workplace. We estimate a dynamic structural model of schooling and work decisions, where individuals have imperfect information about ...