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The Econometric Society Annual Reports Report of the Secretary 计量经济学会年度报告秘书报告
IF 6.6 1区 经济学
Econometrica Pub Date : 2025-02-03 DOI: 10.3982/ECTA931SEC
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引用次数: 0
Persuasion Meets Delegation 说服与授权
IF 6.6 1区 经济学
Econometrica Pub Date : 2025-02-03 DOI: 10.3982/ECTA17051
Anton Kolotilin, Andriy Zapechelnyuk
{"title":"Persuasion Meets Delegation","authors":"Anton Kolotilin,&nbsp;Andriy Zapechelnyuk","doi":"10.3982/ECTA17051","DOIUrl":"https://doi.org/10.3982/ECTA17051","url":null,"abstract":"<div>\u0000 <p>A principal can restrict an agent's information (the persuasion problem) or discretion (the delegation problem). We study these two problems under standard single-crossing assumptions on the agent's marginal utility. We show that these problems are equivalent on the set of monotone stochastic mechanisms, implying, in particular, the equivalence of deterministic delegation and monotone partitional persuasion. We also show that the monotonicity restriction is superfluous for linear persuasion and linear delegation, implying their equivalence on the set of all stochastic mechanisms. Finally, using tools from the persuasion literature, we characterize optimal delegation mechanisms, thereby generalizing and extending existing results in the delegation literature.</p>\u0000 </div>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"93 1","pages":"195-228"},"PeriodicalIF":6.6,"publicationDate":"2025-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.3982/ECTA17051","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143111407","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Minimum Wages, Efficiency, and Welfare 最低工资、效率和福利
IF 6.6 1区 经济学
Econometrica Pub Date : 2025-02-03 DOI: 10.3982/ECTA21466
David Berger, Kyle Herkenhoff, Simon Mongey
{"title":"Minimum Wages, Efficiency, and Welfare","authors":"David Berger,&nbsp;Kyle Herkenhoff,&nbsp;Simon Mongey","doi":"10.3982/ECTA21466","DOIUrl":"https://doi.org/10.3982/ECTA21466","url":null,"abstract":"<p>Many argue that minimum wages can prevent efficiency losses from monopsony power. We assess this argument in a general equilibrium model of oligopsonistic labor markets with heterogeneous workers and firms. We decompose welfare gains into an <i>efficiency</i> component that captures reductions in monopsony power and a <i>redistributive</i> component that captures the way minimum wages shift resources across people. The minimum wage that maximizes the efficiency component of welfare lies below $8.00 and yields gains worth less than 0.2% of lifetime consumption. When we add back in Utilitarian redistributive motives, the optimal minimum wage is $11 and redistribution accounts for 102.5% of the resulting welfare gains, implying offsetting efficiency losses of −2.5%. The reason a minimum wage struggles to deliver efficiency gains is that with realistic firm productivity dispersion, a minimum wage that eliminates monopsony power at one firm causes severe rationing at another. These results hold under an EITC and progressive labor income taxes calibrated to the U.S. economy.</p>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"93 1","pages":"265-301"},"PeriodicalIF":6.6,"publicationDate":"2025-02-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143111194","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Econometric Society Annual Reports Econometrica Referees 2023–2024 计量经济学学会年度报告计量经济学评审2023-2024年
IF 6.6 1区 经济学
Econometrica Pub Date : 2025-02-03 DOI: 10.3982/ECTA931REF
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引用次数: 0
The Econometric Society Annual Reports Report of the Editors 2023–2024 计量经济学会年度报告编辑报告2023-2024
IF 6.6 1区 经济学
Econometrica Pub Date : 2025-02-03 DOI: 10.3982/ECTA931EDS
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引用次数: 0
Privacy-Preserving Signals 保护隐私的信号
IF 6.6 1区 经济学
Econometrica Pub Date : 2024-11-21 DOI: 10.3982/ECTA22017
Philipp Strack, Kai Hao Yang
{"title":"Privacy-Preserving Signals","authors":"Philipp Strack,&nbsp;Kai Hao Yang","doi":"10.3982/ECTA22017","DOIUrl":"https://doi.org/10.3982/ECTA22017","url":null,"abstract":"<p>A signal is <i>privacy-preserving</i> with respect to a collection of <i>privacy sets</i> if the posterior probability assigned to every privacy set remains unchanged conditional on any signal realization. We characterize the privacy-preserving signals for arbitrary state space and arbitrary privacy sets. A signal is privacy-preserving if and only if it is a garbling of a <i>reordered quantile signal</i>. Furthermore, distributions of posterior means induced by privacy-preserving signals are exactly mean-preserving contractions of that induced by the <i>quantile signal</i>. We discuss the economic implications of our characterization for statistical discrimination, the revelation of sensitive information in auctions and price discrimination.</p>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"92 6","pages":"1907-1938"},"PeriodicalIF":6.6,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142685352","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Frontmatter of Econometrica Vol. 92 Iss. 6 经济计量学前沿》第 92 卷第 6 期6
IF 6.6 1区 经济学
Econometrica Pub Date : 2024-11-21 DOI: 10.3982/ECTA926FM
{"title":"Frontmatter of Econometrica Vol. 92 Iss. 6","authors":"","doi":"10.3982/ECTA926FM","DOIUrl":"https://doi.org/10.3982/ECTA926FM","url":null,"abstract":"","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"92 6","pages":"i-ii"},"PeriodicalIF":6.6,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142685250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Adaptive, Rate-Optimal Hypothesis Testing in Nonparametric IV Models 非参数 IV 模型中的自适应、速率最优假设检验
IF 6.6 1区 经济学
Econometrica Pub Date : 2024-11-21 DOI: 10.3982/ECTA18602
Christoph Breunig, Xiaohong Chen
{"title":"Adaptive, Rate-Optimal Hypothesis Testing in Nonparametric IV Models","authors":"Christoph Breunig,&nbsp;Xiaohong Chen","doi":"10.3982/ECTA18602","DOIUrl":"https://doi.org/10.3982/ECTA18602","url":null,"abstract":"<p>We propose a new adaptive hypothesis test for inequality (e.g., monotonicity, convexity) and equality (e.g., parametric, semiparametric) restrictions on a structural function in a nonparametric instrumental variables (NPIV) model. Our test statistic is based on a modified leave-one-out sample analog of a quadratic distance between the restricted and unrestricted sieve two-stage least squares estimators. We provide computationally simple, data-driven choices of sieve tuning parameters and Bonferroni adjusted chi-squared critical values. Our test adapts to the unknown smoothness of alternative functions in the presence of unknown degree of endogeneity and unknown strength of the instruments. It attains the adaptive minimax rate of testing in <i>L</i><sup>2</sup>. That is, the sum of the supremum of type I error over the composite null and the supremum of type II error over nonparametric alternative models cannot be minimized by any other tests for NPIV models of unknown regularities. Confidence sets in <i>L</i><sup>2</sup> are obtained by inverting the adaptive test. Simulations confirm that, across different strength of instruments and sample sizes, our adaptive test controls size and its finite-sample power greatly exceeds existing non-adaptive tests for monotonicity and parametric restrictions in NPIV models. Empirical applications to test for shape restrictions of differentiated products demand and of Engel curves are presented.</p>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"92 6","pages":"2027-2067"},"PeriodicalIF":6.6,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142685355","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Aggregate Implications of Barriers to Female Entrepreneurship 女性创业障碍的总体影响
IF 6.6 1区 经济学
Econometrica Pub Date : 2024-11-21 DOI: 10.3982/ECTA20396
Gaurav Chiplunkar, Pinelopi Koujianou Goldberg
{"title":"Aggregate Implications of Barriers to Female Entrepreneurship","authors":"Gaurav Chiplunkar,&nbsp;Pinelopi Koujianou Goldberg","doi":"10.3982/ECTA20396","DOIUrl":"https://doi.org/10.3982/ECTA20396","url":null,"abstract":"<p>We develop a framework for quantifying barriers to labor force participation (LFP) and entrepreneurship faced by women in India. We find substantial barriers to LFP, and higher costs of expanding businesses through hiring workers for women entrepreneurs. However, there is one area where female entrepreneurs have an advantage: the hiring of female workers. We show that this is not driven by the sectoral composition of female employment. Consistent with this pattern, policies promoting female entrepreneurship can significantly increase female LFP even without explicitly targeting female LFP. Counterfactual simulations indicate that removing all excess barriers faced by women entrepreneurs would substantially increase the fraction of female-owned firms, female LFP, earnings, and generate substantial gains for the economy. These gains are due to higher LFP, higher real wages and profits, and reallocation: low productivity male-owned firms previously sheltered from female competition are replaced by higher productivity female-owned firms previously excluded from the economy.</p>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"92 6","pages":"1801-1835"},"PeriodicalIF":6.6,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142692034","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Caution and Reference Effects 注意事项和参考效应
IF 6.6 1区 经济学
Econometrica Pub Date : 2024-11-21 DOI: 10.3982/ECTA21748
Simone Cerreia-Vioglio, David Dillenberger, Pietro Ortoleva
{"title":"Caution and Reference Effects","authors":"Simone Cerreia-Vioglio,&nbsp;David Dillenberger,&nbsp;Pietro Ortoleva","doi":"10.3982/ECTA21748","DOIUrl":"https://doi.org/10.3982/ECTA21748","url":null,"abstract":"<div>\u0000 <p>We introduce Cautious Utility, a new model based on the idea that individuals are unsure of trade-offs between goods and apply caution. The model yields an endowment effect, even when gains and losses are treated symmetrically. Moreover, it implies either loss aversion or loss neutrality for risk, but in a way unrelated to the endowment effect, and it captures the certainty effect, providing a novel unified explanation of all three phenomena. Cautious Utility can help organize empirical evidence, including some that directly contradicts leading alternatives.</p>\u0000 </div>","PeriodicalId":50556,"journal":{"name":"Econometrica","volume":"92 6","pages":"2069-2103"},"PeriodicalIF":6.6,"publicationDate":"2024-11-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.3982/ECTA21748","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142692033","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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