This paper develops a framework for analyzing the outcome of experiments carried out on forward-looking subjects. Natural experiments, unexpected policy changes, and true experiments are all included in the framework as special cases. These concepts are defined in conjunction with explicit...

Recently, several studies have analysed active labour market policies by using a recently proposed matching estimator for multiple programmes. Since there is only very limited practical experience with this estimator, this paper checks its sensitivity with resprect to issues that are of...

We develop a new method to estimate the returns to R&D, their distribution, and their determinants. We model a continuous optimal treatment with outcome heterogeneity, where the treatment outcome depends on the applicant’s investment. The model takes into account application costs, and...