We study data linkages among heterogeneous firms and examine how they shape the outcome of privacy regulation. A single consumer interacts sequentially with two firms: one firm collects data on consumer behavior, and the other firm leverages the data to set a quality level and a price. Privacy-conscious consumers distort their purchases from a data-collecting firm to manipulate the data-using firm's beliefs. We identify conditions under which data linkages increase total firm profits. Therefore, if firms can trade consumer data efficiently, our setting provides a rationale for the existence of data markets even with privacy-conscious consumers.
{"title":"Data Markets with Privacy-Conscious Consumers","authors":"Rossella Argenziano, A. Bonatti","doi":"10.1257/pandp.20231083","DOIUrl":"https://doi.org/10.1257/pandp.20231083","url":null,"abstract":"We study data linkages among heterogeneous firms and examine how they shape the outcome of privacy regulation. A single consumer interacts sequentially with two firms: one firm collects data on consumer behavior, and the other firm leverages the data to set a quality level and a price. Privacy-conscious consumers distort their purchases from a data-collecting firm to manipulate the data-using firm's beliefs. We identify conditions under which data linkages increase total firm profits. Therefore, if firms can trade consumer data efficiently, our setting provides a rationale for the existence of data markets even with privacy-conscious consumers.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"72 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83906670","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
How does protecting consumers' privacy affect the value of their personal data? We model an intermediary that uses consumers' data to influence prices set by a seller. When privacy is protected, consumers choose whether to disclose their data to the intermediary. When privacy is not protected, the intermediary can access consumers' data without their consent. We illustrate that protecting privacy has complex effects. It can increase the value of some consumers' data while decreasing that of others. It can have redistributive effects, by benefiting some consumers at the expense of others. Finally, it can increase average prices and reduce trade.
{"title":"Privacy and the Value of Data","authors":"S. Galperti, Jacopo Perego","doi":"10.1257/pandp.20231084","DOIUrl":"https://doi.org/10.1257/pandp.20231084","url":null,"abstract":"How does protecting consumers' privacy affect the value of their personal data? We model an intermediary that uses consumers' data to influence prices set by a seller. When privacy is protected, consumers choose whether to disclose their data to the intermediary. When privacy is not protected, the intermediary can access consumers' data without their consent. We illustrate that protecting privacy has complex effects. It can increase the value of some consumers' data while decreasing that of others. It can have redistributive effects, by benefiting some consumers at the expense of others. Finally, it can increase average prices and reduce trade.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"41 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85322606","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The shift of working time from the household to the market, or marketization, was one of the most important changes in the US economy. This paper estimates US household production (HP) by product and examines the marketization of these products. I find that most HP products show little marketization despite a decline in HP's importance relative to GDP. Only cooking had significant marketization between 1965 and 2021. The COVID-19 pandemic led to a demarketization of most products, consistent with market options being disrupted.
{"title":"A Disaggregated View of Household Production Trends","authors":"Benjamin Bridgman","doi":"10.1257/pandp.20231105","DOIUrl":"https://doi.org/10.1257/pandp.20231105","url":null,"abstract":"The shift of working time from the household to the market, or marketization, was one of the most important changes in the US economy. This paper estimates US household production (HP) by product and examines the marketization of these products. I find that most HP products show little marketization despite a decline in HP's importance relative to GDP. Only cooking had significant marketization between 1965 and 2021. The COVID-19 pandemic led to a demarketization of most products, consistent with market options being disrupted.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"9 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82120100","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Report of the Committee on the Job Market","authors":"","doi":"10.1257/pandp.113.789","DOIUrl":"https://doi.org/10.1257/pandp.113.789","url":null,"abstract":"","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89917435","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
N. Angrist, C. Cullen, Micheal Ainomugisha, Sai Pramod Bathena, Peter Bergman, Colin Crossley, Thato Letsomo, Moitshepi Matsheng, Rene Marlon Panti, Shwetlena Sabarwal, Tim Sullivan
We present detailed monitoring data across a five-country randomized trial of phone-based targeted tutoring–one of the largest multicountry replication efforts in education to date. We study an approach shown to work in Botswana and replicated in India, Kenya, Nepal, the Philippines, and Uganda. While the existing literature often finds diminishing effects as proof-of-concept studies are replicated and scaled, we find the opposite: implementation fidelity (the degree of targeted educational instruction) improves across replications and over time. This demonstrates that replication is not intractable; rather, equipped with mechanisms to learn from experience, organizational “learning curves” can enable effective replication and scale-up.
{"title":"Learning Curve: Progress in the Replication Crisis","authors":"N. Angrist, C. Cullen, Micheal Ainomugisha, Sai Pramod Bathena, Peter Bergman, Colin Crossley, Thato Letsomo, Moitshepi Matsheng, Rene Marlon Panti, Shwetlena Sabarwal, Tim Sullivan","doi":"10.1257/pandp.20231009","DOIUrl":"https://doi.org/10.1257/pandp.20231009","url":null,"abstract":"We present detailed monitoring data across a five-country randomized trial of phone-based targeted tutoring–one of the largest multicountry replication efforts in education to date. We study an approach shown to work in Botswana and replicated in India, Kenya, Nepal, the Philippines, and Uganda. While the existing literature often finds diminishing effects as proof-of-concept studies are replicated and scaled, we find the opposite: implementation fidelity (the degree of targeted educational instruction) improves across replications and over time. This demonstrates that replication is not intractable; rather, equipped with mechanisms to learn from experience, organizational “learning curves” can enable effective replication and scale-up.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90910109","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Using a proprietary transaction-level database of nearly 30,000 multiple-draw construction loans and their on-site inspection reports, we empirically examine the relationship between geographic distance and bank information acquisition over the course of the loans (i.e., monitoring). We find that projects farther from the nearest bank branch are more intensely monitored by bank-contracted, third-party inspectors (delegated monitors) and that projects farther from these inspectors receive less intense monitoring, potentially because inspectors face distance-related frictions. These results are consistent with the prediction that distance increases informational frictions but also suggest that banks may offset these frictions by delegating monitoring to closer inspectors.
{"title":"Bank Loan Monitoring, Distance, and Delegation","authors":"A. Heitz, Christopher Martin, Alex Ufier","doi":"10.1257/pandp.20231118","DOIUrl":"https://doi.org/10.1257/pandp.20231118","url":null,"abstract":"Using a proprietary transaction-level database of nearly 30,000 multiple-draw construction loans and their on-site inspection reports, we empirically examine the relationship between geographic distance and bank information acquisition over the course of the loans (i.e., monitoring). We find that projects farther from the nearest bank branch are more intensely monitored by bank-contracted, third-party inspectors (delegated monitors) and that projects farther from these inspectors receive less intense monitoring, potentially because inspectors face distance-related frictions. These results are consistent with the prediction that distance increases informational frictions but also suggest that banks may offset these frictions by delegating monitoring to closer inspectors.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"27 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"85288265","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We use a field experiment in a large college classroom to study the use of written representations of emotion (“emoticons”) as a form of feedback on exams. We find that treatment improved student attendance, quiz scores, homework scores, and test scores. We document heterogeneous impacts based on the type of emoticon received and gender. Improvements were driven by those who received disapproving emoticons but scored above the mean. Female students were responsible for the improved homework and test scores, while men drove improvements in attendance. Both genders improved similarly on quiz scores. We discuss two psychological theories supporting a treatment effect.
{"title":"Emoticons as Performance Feedback for College Students: A Large-Classroom Field Experiment","authors":"Darshak Patel, Justin Roush","doi":"10.1257/pandp.20231046","DOIUrl":"https://doi.org/10.1257/pandp.20231046","url":null,"abstract":"We use a field experiment in a large college classroom to study the use of written representations of emotion (“emoticons”) as a form of feedback on exams. We find that treatment improved student attendance, quiz scores, homework scores, and test scores. We document heterogeneous impacts based on the type of emoticon received and gender. Improvements were driven by those who received disapproving emoticons but scored above the mean. Female students were responsible for the improved homework and test scores, while men drove improvements in attendance. Both genders improved similarly on quiz scores. We discuss two psychological theories supporting a treatment effect.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"24 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78281737","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Report of the Search Committee for the Editor for the American Economic Journal: Economic Policy","authors":"","doi":"10.1257/pandp.113.870","DOIUrl":"https://doi.org/10.1257/pandp.113.870","url":null,"abstract":"","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"131 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75985985","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Jeffrey A. Flory, A. Leibbrandt, Olga Shurchkov, O. Stoddard, Alva Taylor
We design a survey experiment to investigate the effect of intervention with diversity on preferences for diverse outcomes. First, subjects report their perceptions of the archetypical occupations boss, professor, nurse, and clerk, rating boss/professor as higher status than nurse/clerk. Importantly, while respondents expect overrepresentation of women among nurses and clerks, they expect a relatively equal gender distribution among bosses and professors. We then randomize participants to view either diverse or nondiverse images for each occupation. Diversifying the image sets significantly increases the likelihood of underrepresented individuals being selected in both domains, but correctness of preexisting beliefs only matters in female-typed domains.
{"title":"Perceptions of Gender Diversity in Occupations","authors":"Jeffrey A. Flory, A. Leibbrandt, Olga Shurchkov, O. Stoddard, Alva Taylor","doi":"10.1257/pandp.20231062","DOIUrl":"https://doi.org/10.1257/pandp.20231062","url":null,"abstract":"We design a survey experiment to investigate the effect of intervention with diversity on preferences for diverse outcomes. First, subjects report their perceptions of the archetypical occupations boss, professor, nurse, and clerk, rating boss/professor as higher status than nurse/clerk. Importantly, while respondents expect overrepresentation of women among nurses and clerks, they expect a relatively equal gender distribution among bosses and professors. We then randomize participants to view either diverse or nondiverse images for each occupation. Diversifying the image sets significantly increases the likelihood of underrepresented individuals being selected in both domains, but correctness of preexisting beliefs only matters in female-typed domains.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"172 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76400780","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Like other climate-related disasters, wildfires are intensifying. Property owners can reduce their vulnerability to wildfire losses but are not well informed about the costs and benefits of available self-protection investments. Technological advances mean that insurers are increasingly able to monitor household mitigation behavior. We revisit the problem of self-protection from risk in a setting where households have incomplete insurance and limited information about self-protection investments. Insurer discounts for self-protection generate additional value by informing households about self-protection investments that also reduce uninsured losses. This information provision increases the responsiveness of self-protection to ex post disaster assistance, with implications for optimal government transfers.
{"title":"Wildfire Insurance, Information, and Self-Protection","authors":"Judson Boomhower, M. Fowlie, A. Plantinga","doi":"10.1257/pandp.20231104","DOIUrl":"https://doi.org/10.1257/pandp.20231104","url":null,"abstract":"Like other climate-related disasters, wildfires are intensifying. Property owners can reduce their vulnerability to wildfire losses but are not well informed about the costs and benefits of available self-protection investments. Technological advances mean that insurers are increasingly able to monitor household mitigation behavior. We revisit the problem of self-protection from risk in a setting where households have incomplete insurance and limited information about self-protection investments. Insurer discounts for self-protection generate additional value by informing households about self-protection investments that also reduce uninsured losses. This information provision increases the responsiveness of self-protection to ex post disaster assistance, with implications for optimal government transfers.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"43 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77643363","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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