AbstractUsing over 11,000 unlicensed loans to over 1,000 borrowers in Singapore, we provide basic information about an understudied market: illegal moneylending. Borrowers and lenders interact frequently and rely primarily on relational contracts to en…
AbstractParticipation payments are used in many transactions about which people know little but can learn more: incentives for medical trial participation, signing bonuses for job applicants, or price rebates on consumer durables. Who opts into the tra…
AbstractThis study investigates the mechanisms affecting sleep choice and explores whether commitment devices and monetary incentives can be used to promote healthier sleep habits. To this end, we conducted a field experiment with college students, pro…
AbstractWe study Medicare’s competitive bidding program for durable medical equipment. We use Medicare claims data to examine the effect on prices and utilization, focusing on continuous positive airway pressure devices for sleep apnea. We find that sp…
AbstractThe H-1B Visa Reform Act of 2004 dictates an annual allocation of 85,000 visas with 20,000 reserved for advanced-degree applicants. We represent the main requirements of this legislation as formal axioms and characterize visa allocation rules c…
AbstractWe report the results of two laboratory experiments and a representative survey that investigate how default effects are shaped by information asymmetries and strategic incentives. We document that defaults are more informative when the interes…
AbstractThis paper studies how the expansion of segregated neighborhoods eroded black wealth in prewar American cities. Using a novel sample of matched addresses, we find that over a single decade rental prices soared by roughly 50% on city blocks that…
AbstractInformation on willingness-to-pay is key for public pricing and allocation of services but not easily collected. Studying land titles in Dar-es-Salaam, we ask whether local leaders know and will reveal plot owners’ willingness-to-pay. We random…
AbstractIn this paper, we investigate the economic consequences of mass shootings. We find that shootings have negative effects on targeted counties’ economies. Estimates using three different comparison groups yield similar results. Examining the mech…
AbstractWe study the removal of information from a market, such as a job-applicant screening tool. We characterize how removal harms groups with relative advantage in that information: typically those for whom the banned information is most precise rel…