Due to climate change and social issues, environmental, social, and governance (ESG) solutions receive increased attention and emphasis. Being influential market leaders, investors wield significant power to persuade companies to prioritize ESG considerations. However, investors’ preferences...

We create a large language model with high accuracy to investigate the relatedness between 12 environmental, social, and governance (ESG) topics and more than 2 million news reports. The text match pre-trained transformer (TMPT) with 138,843,049 parameters is built to probe whether and how much...

This paper dynamically extends the noise trading model (DSSW model) via describing the limited rational investors’ sentiment more specifically, and using the bipolar sigmoid activation function in the neural network system to depict noise traders’ overreaction to the past changes of...

A common phenomenon about transition economies is that the return to schooling improves as economic reform progresses. Existing research suggests that Vietnam is not an exception to the pattern. However, the rate of return for the period 1992-1998 is still relatively low, below 5%, relative to...

This paper uses a novel dataset collected by the first author from peri-urban areas of Ho Chi Minh City, Vietnam in 2008 to examine how the poor use their loans, and factors affecting their credit participation and credit constraints. The paper finds the presence of many commercial banks in the...

We investigate the relationship between social distancing, as measured by encounter rates using cellphone proximity data, and COVID-19 infections and deaths. Consistent with the existing literature on the effectiveness of non-pharmaceutical interventions, we find a positive and statistically...

Mexico’s ‘soda tax’ has been predicted to reduce average weight of Mexicans by up to three pounds, based on extant estimates of the own-price elasticity of quantity demand for soda of between −1.0 and −1.3. These elasticity estimates from household survey data are exaggerated by not...

We explore the relevancy of subjects' risk preferences recovered using a subjective risk question to those recovered from the incentivized lottery experiments of Holt and Laury (2002), Gneezy and Potters (1997), and Johnson and Webb (2016). While a statistically significant relationship between...

Many countries lack spatially disaggregated consumer price data. Yet these data are needed to estimate real inequality and spatial patterns of poverty, especially for poor countries where weak infrastructure and high transport costs create big price variation over space. We experimented in...

We conducted a salient purchasing experiment to test if an information intervention alters fizzy drinks demand. Subjects in our experiment initially made five rounds of purchases, for 14 items (energy drinks, colas, and lemonades) selected from a stratified sample of retailers. Subjects faced...