Researchers typically collect experimental data sequentially, allowing early outcome observations and adaptive treatment assignment to reduce exposure to inferior treatments. This article reviews multi-armed-bandit adaptive experimental designs that balance exploration and exploitation. Because...

Researchers typically collect experimental data sequentially, allowing early outcome observations and adaptive treatment assignment to reduce exposure to inferior treatments. This article reviews multiarmed-bandit adaptive experimental designs that balance exploration and exploitation. Because...

We propose a macro-finance model in which inflation, growth, and the policy rate are driven by unobservable long-run trends and transitory cycles that investors must infer from aggregate data. Their subjective estimates of these trends, and the uncertainty surrounding them, are priced into the...

Just as backwards design starts with course learning objectives before planning assessments, content and teaching activities, narrative engagement by design imagines how to build engagement into the foundation of course structure and content, not just into teaching and learning activities. This...

I study optimal implementation of climate targets in a model with distortionary fiscal policy, learning-by-doing, and directed technical change. The key mechanism is that fiscal constraints link innovation policy to labor allocation, creating a tension between directing research and directing...

Accurate wind power forecasting is crucial for the effective scheduling and scientific management of wind energy, enhancing the safety and reliability of power grids. To handle the inherent intermittency of wind energy, forecasting methodologies have evolved from traditional statistical models...

The resurgence of subsidies and industrial policies has raised concerns about their potential inefficiency and alignment with multilateral principles. Critics warn that such policies may divert resources to less efficient firms and provoke retaliatory measures from other countries, leading to a...