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Deng, Shanglyu; Jia, Dun; Leccese, Mario; Sweeting, Andrew - National Bureau of Economic Research - 2024

policies and the welfare effects of policies designed to increase competition …

Persistent link: https://www.econbiz.de/10014528398

Battaglini, Marco; Palfrey, Thomas R. - National Bureau of Economic Research - 2024

We study the volunteer's dilemma in environments with heterogeneous preferences and private information. We characterize the efficiency properties of equilibrium, which is a departure from all the previous literature that focuses only on the probability of group success. While the probability of...

Persistent link: https://www.econbiz.de/10015072940

The Voting Premium

Levit, Doron Y.; Malenko, Nadya; Maug, Ernst G. - National Bureau of Economic Research - 2023

This paper develops a unified theory of blockholder governance and the voting premium, in a setting without takeovers and controlling shareholders. A voting premium emerges when a minority blockholder tries to influence the composition of the shareholder base by accumulating votes and buying...

Persistent link: https://www.econbiz.de/10014437023

Plata y Plomo : How Higher Wages Expose Politicians to Criminal Violence

Pulejo, Massimo; Querubín Borrero, Pablo - National Bureau of Economic Research - 2023

Adequate wages are an important tool to shield public officials from special interests and corruption. But what is the equilibrium effect of higher wages in the presence of criminal pressure groups, who use both bribes and violence? By means of a regression discontinuity design, we show that an...

Persistent link: https://www.econbiz.de/10014337819

Central Bank Communication with the Polarized Public

Kuang, Pei; Weber, Michael; Xie, Shihan - National Bureau of Economic Research - 2025

This paper examines the impact of political polarization on public trust in the Fed and its influence on macroeconomic expectations. Using a large-scale survey experiment which we fielded on President Trump's 2025 inauguration day, we study how households form beliefs about the Fed regarding its...

Persistent link: https://www.econbiz.de/10015326517

Inequality and Racial Backlash : Evidence from the Reconstruction Era and the Freedmen's Bureau

Chyn, Eric; Haggag, Kareem; Stuart, Bryan A. - National Bureau of Economic Research - 2024

How do majority groups respond to a narrowing of inequality in racially polarized environments? We study this question by examining the effects of the Freedmen's Bureau, an agency created after the U.S. Civil War to provide aid to former slaves and launch institutional reform in the South. We...

Persistent link: https://www.econbiz.de/10014528354

Logrolling in Congress

Battaglini, Marco; Sciabolazza, Valerio Leone; … - National Bureau of Economic Research - 2023

We study vote trading among U.S. Congress members. By tracking roll-call votes within bills across five legislatures and politicians' personal connections made during the school years, we document a propensity of connected legislators to vote together that depends on how salient the bill is to...

Persistent link: https://www.econbiz.de/10014250186

Mispricing Narratives after Social Unrest

Ba, Bocar A.; Ndiaye, Abdoulaye; Rivera, Roman; … - National Bureau of Economic Research - 2024

We study how negative sentiment around an industry impacts beliefs and behaviors, focusing on demands for racial justice after the murder of George Floyd and the salience of the "defund the police" movement. We assess stakeholder beliefs on the impact of protests on the stock prices of...

Persistent link: https://www.econbiz.de/10014635693

Mistrust, Misperception, and Misunderstanding : Imperfect Information and Conflict Dynamics

Acemoglu, Daron; Wolitzky, Alexander - National Bureau of Economic Research - 2023

-degenerate higher-order beliefs) can lead to conflict and drive its dynamics. We develop our analysis in the context of three classic … learning about the opponent's type, as well as the possibility of conflict spirals, traps, and cycles; and a deterrence model …. We relate these models to the empirical literature and to current and historical episodes of conflict …

Persistent link: https://www.econbiz.de/10014372438

Auctions vs. Negotiations

Bulow, Jeremy - 1994

Which is the more profitable way to sell a company: a public auction or an optimally structured negotiation with a … smaller number of bidders? We show that under standard assumptions the public auction is always preferable, even if it … at least one extra bidder. An immediate public auction also dominates negotiating while maintaining the right to hold an …

Persistent link: https://www.econbiz.de/10012474326