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This paper examines reference-dependent stopping in repeated risky decisionmaking and its relation to skill dependence and individual ability. Using field data from online heads-up poker tournaments, …
Many auctions and procurement contests entail nontrivial bidding costs, which makes the bidders’ participation decisions endogenous to the auction design. We analyze the effect of different auction …
Philippe Aghion, Ufuk Akcigit, Ari Hyytinen, and Otto Toivanen
Why is invention strongly positively correlated with parental income not only in the US but also in Finland which displays low income inequality and high social mobility? Using data on 1.45M Finnish …