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Money supply in the history of macroeconomic thought: 50 shades of endogeneity (2022)
Journal Article
Ostapenko, V. M., & Buglevsky, E. A. (2022). Money supply in the history of macroeconomic thought: 50 shades of endogeneity. Journal of the New Economic Association, 55(3), 156-176. https://doi.org/10.31737/2221-2264-2022-55-3-8

The paper considers the evolution of the money supply concept in economics through the lens of contemporary discussion on the degree of its endogeneity. It is stated that the model of exogenous money supply formation, widespread in the literature and... Read More about Money supply in the history of macroeconomic thought: 50 shades of endogeneity.

Monologues, dialogues, and common priors (2022)
Journal Article
Di Tillio, A., Lehrer, E., & Samet, D. (2022). Monologues, dialogues, and common priors. Theoretical Economics, 17(2), 587-615. https://doi.org/10.3982/te4508

The main purpose of this paper is to provide a simple criterion enabling to conclude that two agents do not share a common prior. The criterion is simple, as it does not require information about the agents' knowledge and beliefs, but rather only the... Read More about Monologues, dialogues, and common priors.

Arbitrage bots in experimental asset markets (2022)
Journal Article
Angerera, M., Neugebauer, T., & Shachat, J. (2023). Arbitrage bots in experimental asset markets. Journal of Economic Behavior and Organization, 206, 262-278. https://doi.org/10.1016/j.jebo.2022.12.004

Trading algorithms are an integral component of modern asset markets. In twin experimental markets for long-lived correlated assets we examine the impact of alternative types of arbitrage-seeking algorithms. These arbitrage robot traders vary in thei... Read More about Arbitrage bots in experimental asset markets.

The Participation Dilemma: A Survey of the Empirical Literature on International Environmental Agreement Ratification (2022)
Journal Article
Bellelli, F. S., Aftab, A., & Scarpa, R. (2023). The Participation Dilemma: A Survey of the Empirical Literature on International Environmental Agreement Ratification. Review of Environmental Economics and Policy, 17(1), 3-21. https://doi.org/10.1086/722906

Several of the most pressing environmental problems involve transboundary issues and can be solved only through international cooperation. Hence, a successful policy response requires a good understanding of international environmental agreements—the... Read More about The Participation Dilemma: A Survey of the Empirical Literature on International Environmental Agreement Ratification.

Does credit availability mitigate domestic conflict? (2022)
Journal Article
Bhattacharya, P. S., Chowdhury, P. R., & Rahman, H. (2023). Does credit availability mitigate domestic conflict?. Economic Modelling, 119, https://doi.org/10.1016/j.econmod.2022.106105

This paper establishes that lack of credit is one of the root causes of conflict; with credit being scarce, productive endeavours are less attractive and conflict-led activities more appealing at the margin. Our investigation contributes to the liter... Read More about Does credit availability mitigate domestic conflict?.

Screening Dominance: A Comparison of Noisy Signals (2022)
Journal Article
Lagziel, D., & Lehrer, E. (2022). Screening Dominance: A Comparison of Noisy Signals. American Economic Journal: Microeconomics, 14(4), 1-24. https://doi.org/10.1257/mic.20200284

This paper studies the impact of noisy signals on screening processes. It deals with a decision problem in which a decision-maker screens a set of elements based on noisy unbiased evaluations. Given that the decision-maker uses threshold strategies,... Read More about Screening Dominance: A Comparison of Noisy Signals.

“Storm autocracies”: Islands as natural experiments (2022)
Journal Article
Rahman, M. H., Anbarci, N., & Ulubaşoğlu, M. A. (2022). “Storm autocracies”: Islands as natural experiments. Journal of Development Economics, 159, Article 102982. https://doi.org/10.1016/j.jdeveco.2022.102982

We exploit the exogenous variation in the timing and intensity of storms in island countries to estimate the storms' effect on the extent of democracy. Using a rich panel dataset spanning the period 1950–2020, our difference-in-differences estimation... Read More about “Storm autocracies”: Islands as natural experiments.

Decarbonisation Policies and Energy Price Reforms in Bangladesh (2022)
Journal Article
Amin, S., Jamasb, T., Llorca, M., Marsiliani, L., & Renström, T. (2022). Decarbonisation Policies and Energy Price Reforms in Bangladesh. Energy Policy, 170, Article 113224. https://doi.org/10.1016/j.enpol.2022.113224

Bangladesh electricity sector suffers from heavy subsidization of fossil fuels and regulated electricity prices. These interventions distort the fuel mix in electricity production, promote overconsumption of fossil fuels and slow down the low-carbon... Read More about Decarbonisation Policies and Energy Price Reforms in Bangladesh.

How auctioneers set reserve prices in procurement auctions (2022)
Journal Article
Shachat, J., & Tan, L. (2022). How auctioneers set reserve prices in procurement auctions. European Journal of Operational Research, 304(2), 709-728. https://doi.org/10.1016/j.ejor.2022.04.025

We introduce a behavioral model that effectively predicts auctioneers’ reserve choice patterns in English clock auctions across varying reserve price formats (whether reserve prices are set ex-ante or ex-post auction events), number of bidders and th... Read More about How auctioneers set reserve prices in procurement auctions.

Industrial Policies, Strategy, and the UK’s Levelling Up Agenda (2022)
Journal Article
Sunley, P., Harris, J. L., Pike, A., Harris, R., Martin, R., & Evenhuis, E. (2022). Industrial Policies, Strategy, and the UK’s Levelling Up Agenda. Local Economy, 37(5), 403-418. https://doi.org/10.1177/02690942221149007

In the context of the UK economy’s slow and unbalanced growth, this paper discusses the degree to which recent Conservative Governments in the UK have moved towards the adoption of a strategic and coherent set of industrial policies to enhance econom... Read More about Industrial Policies, Strategy, and the UK’s Levelling Up Agenda.

Trust and Trustworthiness in Procurement Contracts with Retainage (2022)
Journal Article
Walker, M. J., Katok, E., & Shachat, J. (2023). Trust and Trustworthiness in Procurement Contracts with Retainage. Management Science, 69(6), 3492–3515. https://doi.org/10.1287/mnsc.2022.4516

In complex procurement projects, it is difficult to write enforceable contracts that condition price upon quality. Supplier non-performance becomes an acute risk, particularly when there is intense competition for the contract. An established incenti... Read More about Trust and Trustworthiness in Procurement Contracts with Retainage.

The Consequence of Takeover Methods: Schemes of Arrangement vs. Takeover Offers (2022)
Journal Article
Alqobali, H., & Li, D. (2022). The Consequence of Takeover Methods: Schemes of Arrangement vs. Takeover Offers. International Journal of Financial Studies, 10(3), https://doi.org/10.3390/ijfs10030069

This paper examined the effect of two selling processes in the UK market: takeover offers and schemes of arrangement. The latter is argued to allow a bidder to acquire a target company more cheaply and easily because schemes provide a lower threshold... Read More about The Consequence of Takeover Methods: Schemes of Arrangement vs. Takeover Offers.

Towards measuring environmental income through a refined United Nations SEEA EA: Application to publicly-owned, protected, pine-forest-farm case studies in Andalusia, Spain (2022)
Journal Article
Campos, P., Mesa, B., Álvarez, A., Oviedo, J. L., & Caparrós, A. (2022). Towards measuring environmental income through a refined United Nations SEEA EA: Application to publicly-owned, protected, pine-forest-farm case studies in Andalusia, Spain. Ecological Economics, 201, Article 107570. https://doi.org/10.1016/j.ecolecon.2022.107570

The United Nations monetary System of Environmental-Economic Accounting—Ecosystem Accounting (SEEA EA) does not recommend the measurement of the environmental incomes of single products from an ecosystem accounting area. The objective of this paper i... Read More about Towards measuring environmental income through a refined United Nations SEEA EA: Application to publicly-owned, protected, pine-forest-farm case studies in Andalusia, Spain.

Migration and social preferences (2022)
Journal Article
Marino Fages, D., & Morales Cerda, M. (2022). Migration and social preferences. Economics Letters, 218, Article 110773. https://doi.org/10.1016/j.econlet.2022.110773

Anti-immigrant sentiment is frequently motivated by the idea that migrants are a threat to the host country’s culture (Rapoport et al., 2020). We contribute to the discussion by investigating whether or not migrants adapt their social preferences (SP... Read More about Migration and social preferences.

Gender pay and productivity in UK universities: Evidence from research-intensive Business Schools (2022)
Journal Article
Harris, R., & Mate-Sanchez-Val, M. (2022). Gender pay and productivity in UK universities: Evidence from research-intensive Business Schools. Economics Letters, 218, Article 110738. https://doi.org/10.1016/j.econlet.2022.110738

Women academics earn less than men, even after controlling for a range of productivity-related covariates. However, the latter usually do not include direct measures of research productivity. This paper uses data from the Higher Education Statistical... Read More about Gender pay and productivity in UK universities: Evidence from research-intensive Business Schools.

Is local and organic produce less satiating? Some evidence from a field experiment (2022)
Journal Article
Franceschinis, C., Scarpa, R., Rossetto, L., & Thiene, M. (2022). Is local and organic produce less satiating? Some evidence from a field experiment. European Review of Agricultural Economics, 49(5), 1146-1178. https://doi.org/10.1093/erae/jbac014

We investigate consumers’ preferences towards local and organic food via a framed field experiment involving revealed multiple discrete–continuous choices. Participants were endowed with a cash amount as a budget to purchase any desired quantity of d... Read More about Is local and organic produce less satiating? Some evidence from a field experiment.