We examine Singapore's fairly homogeneous private-housing market and show that new apartments on historical multi-century leases trade at a non-zero discount relative to property owned in perpetuity. Descriptive regressions indicate that new apartments with 825 to 986 years of tenure remaining...

We provide the first revealed preference estimates of the benefits of routine weather forecasts. The benefits come from how people use advance information to reduce mortality from heat and cold. Theoretically, more accurate forecasts reduce mortality if and only if mortality risk is convex in...

Instrumental variable estimation requires untestable exclusion restrictions. With policy effects on individual outcomes, there is typically a time interval between the moment the agent realizes that he may be exposed to the policy and the actual exposure or the announcement of the actual...

In this paper, we analyze a principal's optimal feedback policy in tournaments. We close agap in the literature by assuming the principal to be unable to commit to a certain policy atthe beginning of the tournament...

Previous research has shown that feedback about past performance has ambiguous effects on subsequent performance. We argue that feedback affects beliefs in different dimensions – namely beliefs about the level of human capital and beliefs about the ability to learn – and this may explain...

We design and implement a field experiment that provides students from less advantaged backgrounds with individualized feedback on academic performance during the transition from middle to high school. The intervention reduces the gap between expected and actual performance, as well as shrinks...

'Marginal employment', i.e. employment at low working hours and earnings not covered bysocial security, has been gaining importance in the German economy over the past decade.Using a large newly available panel data set and statistical matching techniques, we analysethe effects of marginal...

We use a new and exceptionally rich administrative data set for Germany to evaluate theemployment effects of a variety of public sponsored training programs in the early 2000s.Building on the work of Sianesi (2003, 2004), we employ propensity score matching methodsin a dynamic, multiple...