{"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}
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 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}
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}
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}
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}
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 Status of Women in the Economics Profession","authors":"Elizabeth Hoffman","doi":"10.1257/pandp.113.815","DOIUrl":"https://doi.org/10.1257/pandp.113.815","url":null,"abstract":"","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"22 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135703266","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}
What comes to mind when thinking about a successful entrepreneur? Belief formation models suggest that what comes to mind is an oversimplified picture of the characteristics of successful entrepreneurs–that is, stereotypes about successful entrepreneurs. Using French administrative data on 48,767 new firms, we show that some characteristics are stereotypical of success and have distributions that can generate miscalibrated beliefs. To illustrate how stereotypical thinking can lead to biased assessments, we report the discrepancies between the implied fraction of successful entrepreneurs under Bayesian versus stereotypical thinking for several stereotypes. We discuss the consequences of stereotyping for venture capital allocation.
{"title":"Stereotypes about Successful Entrepreneurs","authors":"Victor Lyonnet, Léa Stern","doi":"10.1257/pandp.20231120","DOIUrl":"https://doi.org/10.1257/pandp.20231120","url":null,"abstract":"What comes to mind when thinking about a successful entrepreneur? Belief formation models suggest that what comes to mind is an oversimplified picture of the characteristics of successful entrepreneurs–that is, stereotypes about successful entrepreneurs. Using French administrative data on 48,767 new firms, we show that some characteristics are stereotypical of success and have distributions that can generate miscalibrated beliefs. To illustrate how stereotypical thinking can lead to biased assessments, we report the discrepancies between the implied fraction of successful entrepreneurs under Bayesian versus stereotypical thinking for several stereotypes. We discuss the consequences of stereotyping for venture capital allocation.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"25 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135703641","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 consider the gamification aspect of a technology that delivers small daily tasks to students to analyze how competition motivates engagement. We randomly assigned 400 students into teams of up to 10, who compete by committing to the daily task and then acknowledging their completion later in the day. Using data collected from the leaderboard, we test whether student engagement with respect to competition varies systematically by gender and by the level of anonymity. Not surprisingly, being ranked in the top three is highly motivating. However, among lower-ranked students, male students tend to disengage when usernames are not anonymous.
{"title":"Competition, Motivation, and Student Engagement","authors":"Amanda J. Felkey, Eva Dziadula, Eric P. Chiang","doi":"10.1257/pandp.20231047","DOIUrl":"https://doi.org/10.1257/pandp.20231047","url":null,"abstract":"We consider the gamification aspect of a technology that delivers small daily tasks to students to analyze how competition motivates engagement. We randomly assigned 400 students into teams of up to 10, who compete by committing to the daily task and then acknowledging their completion later in the day. Using data collected from the leaderboard, we test whether student engagement with respect to competition varies systematically by gender and by the level of anonymity. Not surprisingly, being ranked in the top three is highly motivating. However, among lower-ranked students, male students tend to disengage when usernames are not anonymous.","PeriodicalId":72114,"journal":{"name":"AEA papers and proceedings. American Economic Association","volume":"11 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86226441","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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