We estimate the impacts of being connected to politicians on occupational choice.  We use an administrative dataset collected in 2008-2010 on 20 million individuals and rely on naming conventions to assess family links to candidates in elections held in 2007 and 2010.  We first estimate the...

This paper examines the impact of the oil price boom in the 1970s and the subsequent bust on non-oil economic activity in oil-department countries.  During the boom, manufacturing value added and exports increased significantly relative to non-oil dependent countries, along with wages,...

Standard models often predict that people should either demand to save or demand to borrow, but not both.  We hypothesise instead that saving and borrowing among microfinance clients are substitutes, satisfying the same underlying demand: for a regular schedule of deposits and a lump-sum...

This paper presents a new adaptive framework for understanding children's growth in the past.  Drawing upon the recent work of Gluckman and Hanson (2006) and their co-authors on adaptive responses in relation to growth, I present three prenatal and three postnatal adaptive mechanisms that...

In this paper we study price competition between firms when some consumers attempt tobargain while others buy at the public list or posted prices. Even though bargainers succeed innegotiating discounts off the list prices, their presence dampens competitive pressure in the marketby reducing the...

We review evidence regarding the size and evolution of the "land rush" in the wake of the 2007-2008 boom in agricultural commodity prices and study determinants of foreign land acquisition for large-scale agricultural investment. Using data on bilateral investment relationships to estimate...

The spatial distribution of oil is determined by natural geography alone. However, we show that the distribution of oil exploration is affected by the quality of countries’ institutions. A global data set on the precise location of oil wells and national borders allows for a regression...

In this paper we investigate how cognitive ability influences behavior, success and theevolution of play towards Nash equilibrium in repeated strategic interactions. We study behaviorin a p-beauty contest experiment and find striking differences according to cognitiveability: more cognitively...

Many interactive environments can be represented as games, but they are so large and complex that individual players are in the dark about others' actions and the payoff structure.  This paper analyzes learning behavior in such 'black box' environments, where players' only source of information...