The initial allocation of carbon emission rights among different generating units is an important element in the initial stage of the construction of the carbon emission market for the power system, and is also the focus of attention in the construction of the current carbon market for the power...

To stay competitive, firms regularly invest in innovation by supporting internal capital projects (funded and executed in-house) that explore new products and operational improvements. Each year, in a highly competitive process, managers from different functional units of the firm submit...

We consider a large class of 2-contestant Colonel Blotto games, for which the budget and valuation are both asymmetric between players and the contest success functions are in Tullock form with battle-specific discriminatory power in (0, 1] and battle-and-contestant-specific lobbying...

We propose an accounting framework that maps the dispersion of borrowing costs along the debt maturity structure to the misallocation of productive resources. Specif- ically, we decompose the effects of credit misallocation into two distinct channels: limited access to debt finance (scale...

Using a rich dataset of Chinese firms, we investigate the effect of industrial policies on resource misallocation. Our difference-in-difference model estimates provide evidence that government policies increased the dispersion of revenue productivity across firms in four-digit industries...

We examine the impact of wind energy installation on school district finances and student achievement using data on the timing, location, and capacity of the universe of U.S. installations from 1995 through 2016. Wind energy installation substantially increased district revenues, causing large...

Shortages in organs for transplantation have resulted in a renewed interest in designing incentive policies to promote organ supply. The donor‐priority rule, which grants priority for transplantation based on deceased organ donor registration status, has proven to be effective in both theory...

Vaccination is a critical tool, along with suppression and treatment, for controlling epidemics such as SARS-CoV-2. To maximize the impact of vaccination, doses should be allocated to the highest value targets, accounting for health and potential economic benefits. We examine what allocation...