Scalable Price Targeting -- by Jean-Pierre Dube, Sanjog Misra
We study the welfare implications of scalable price targeting, an extreme form of third-degree price discrimination implemented with machine learning for a large, digital firm. Targeted prices are...
View ArticleLearning by Ruling and Trade Disputes -- by Giovanni Maggi, Robert W. Staiger
Over the WTO years, the frequency of disputes and court rulings has trended downwards. Such trends are sometimes interpreted as symptoms of a dispute resolution system in decline. In this paper we...
View ArticleGravity in FX R-Squared: Understanding the Factor Structure in Exchange Rates...
We relate the risk characteristics of currencies to measures of physical, cultural, and institutional distance. The currencies of countries which are more distant from other countries are more exposed...
View ArticleTax Evasion and Inequality -- by Annette Alstadsaeter, Niels Johannesen,...
This paper attempts to estimate the size and distribution of tax evasion in rich countries. We combine random audits--the key source used to study tax evasion so far--with new micro-data leaked from...
View ArticleStrategy-proofness in the Large -- by Eduardo M. Azevedo, Eric Budish
We propose a criterion of approximate incentive compatibility, strategy-proofness in the large (SP-L), and argue that it is a useful second-best to exact strategy-proofness (SP) for market design....
View ArticlePrimary-Market Auctions for Event Tickets: Eliminating the Rents of 'Bob the...
Economists have long been puzzled by event-ticket underpricing: underpricing both reduces revenue and encourages socially wasteful rent-seeking by ticket brokers. This paper studies the introduction of...
View ArticleHigh School Choices and the Gender Gap in STEM -- by David Card, A. Abigail...
Women who graduate from university are less likely than men to specialize in science, technology, engineering, or math (STEM). We use detailed administrative data for a recent cohort of high school...
View ArticleNumerical analysis for a unified 2 factor model of structural and reduced...
Conditions of stability for explicit finite difference scheme and some results of numerical analysis for a unified 2 factor model of structural and reduced form types for corporate bonds with fixed...
View ArticleKinetic theory and Brazilian income distribution. (arXiv:1709.06480v1...
We investigate the Brazilian personal income distribution using data from National Household Sample Survey (PNAD), an annual research available by the Brazilian Institute of Geography and Statistics...
View ArticleModeling of the Labour Force Redistribution in Investment Projects with...
The mathematical model of the labour force redistribution in investment projects is presented in the article. The redistribution mode of funds, labour force in particular, according to the equal risk...
View ArticleThe bail-out optimal dividend problem under the absolutely continuous...
This paper studies the optimal dividend problem with capital injection under the constraint that the cumulative dividend strategy is absolutely continuous. We consider an open problem of the general...
View ArticleLarge-Scale Portfolio Allocation Under Transaction Costs and Model...
We theoretically and empirically study large-scale portfolio allocation problems when transaction costs are taken into account in the optimization problem. We show that transaction costs act on the one...
View ArticleUniversal L\'evy's Stable Law of Stock Market and its Characterization....
Price fluctuations in financial markets can be characterized by L\'evy's stable distribution, which is supported by the generalized central limit system. When the stable parameters were estimated from...
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Herb Kelleher on Market Share
Entrepreneur Joel Gascoigne tweeted a quote from Southwest Airlines co-founder Herb Kelleher yesterday. The quote describes Kelleher's views on the pursuit of market share vs. profitability. I think...
View Article[0810.4672] Scientists who engage with society perform better academically
"Scientists who engage with society perform better academically" https://t.co/TThCd7nnEV (in 2008) ht @jmcourty http://pic.twitter.com/0oIWBCNyaW â Arthurâ¦
View ArticleCFTC Chairman Giancarlo Appoints Matthew B. Kulkin as Director of the...
U.S. Commodity Futures Trading Commission (CFTC) Chairman J. Christopher Giancarlo today announced the appointment of Matthew B. Kulkin to serve as Director of the CFTCâs Division of Swap Dealer and...
View ArticleRedacted Version of the September 2017 FOMC Statement
July 2017September 2017CommentsInformation received since the Federal Open Market Committee met in June indicates that the labor market has continued to strengthen and that economic activity has been...
View ArticleMarket Dynamics. On A Muse Of Cash Flow And Liquidity Deficit....
The first attempt to obtain market directional information from non--stationary solution of the dynamic equation[1] "future price tend to the value maximizing the number of shares traded per unit time"...
View ArticleDead Alphas as Risk Factors. (arXiv:1709.06641v1 [q-fin.PM])
We give an explicit algorithm and source code for extracting equity risk factors from dead (a.k.a. "flatlined" or "hockey-stick") alphas and using them to improve performance characteristics of good...
View ArticleDo Big Things: The Simple Steps Teams Can Take to Mobilize Hearts and Minds,...
An inspiring, practical and progress-oriented blueprint for energetic achievement.read more...
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