In many areas of economics there is a growing interest in how expertise and preferences drive individual and group decision making under uncertainty. Increas- ingly, we wish to estimate such models to quantify which of these drive decision making. In this paper we propose a new channel through...

In many areas of economics there is a growing interest in how expertise and preferences drive individual and group decision making under uncertainty.Increasingly, we wish to estimate such models to quantify which of these drive decision making. In this paper we propose a newc hannel through...

How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We exploit a natural experiment in the Federal Open Market Committee in 1993 together with computational linguistic models (particularly Latent Dirichlet Allocation) to measure the...

We measure the behavior of 1,114 CEOs in six countries parsing granular CEO diary data through an unsupervised machine learning algorithm. The algorithm uncovers two distinct behavioral types: "leaders" and "managers". Leaders focus on multi-function, high-level meetings, while managers focus on...

This article examines the incentive effects of interim performance evaluation when a worker has career concerns and effort is history dependent. Disclosure has two effects: it increases the variance of future effort, and it allows the worker to use current effort to influence his employer's...

This paper applies ideas and findings from Managerial Accounting to the problem of public good provision. It first links the problems of traditional bureaucracies with those of "discretionary expense centers", which are characterized by poor user and supplier incentives as well as...

In most firms, managers periodically assess workers performance. Evidence suggests that managers with hold information during these reviews, and some observers argue that this necessarily reduces surplus. This paper assesses the validity of this argument when workers have career concerns....

In most firms, managers periodically assess workers' performance. Evidence suggests that managers withhold information during these reviews, and some observers argue that this necessarily reduces surplus. This paper assesses the validity of this argument when workers have career concerns....

In 1997 Chancellor Kohl proposed a major pension reform: he pushed the law through Parliament explaining that the German PAYG system had become unsustainable. One limitation of the new law - one that is crucial for our identification strategy - is that it left the generous pension entitlements...