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ミクロ経済学ワークショップ 2022
Microeconomics Workshop
- ※ 特に表記のない限りセミナー発表は英語で行われます（Unless otherwise mentioned, presentations are in ENGLISH）。
Hybrid SeminarThe seminars are held in-person and online basically. (from October 2022) Seminar Venue (Please note that the seminar venue might be changed for irregular seminars.) : Please use the following link for online registration. See the bottom of the page for details.
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RegistrationPlease use the following link for registration. Please read the bottom of the page for participation details. https://zoom.us/meeting/register/tJwtceGhrzMpHtZ8GucmpPdvrWzSi7Gf2sdT
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Companion WorkshopApplied Economics Workshop (AEW) |
Applied Economics Workshop（AEW) is our companion workshop, jointly held by the University of Tokyo, National Taiwan University, National University of Singapore, Hong Kong University of Science and Technology, Hong Kong University, and Academia Sinica.
The seminars are held online using Zoom Webinar (registration is required). Please register at the following website for participation. Applied Economics Workshopは、Zoom Webinar を使ったオンラインでの開催(事前登録制）となります。参加をご希望の方は、下記ウェブサイトよりご登録下さい。 Applied Economics Workshop Website |
| 日時 | March 28, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Bobak Pakzad-Hurson (Brown University) "Do Peer Preferences Matter in School Choice Market Design? Theory and Evidence" joint with Natalie Cox, Ricardo Fonseca, and Matthew Pecenco |
| Abstract | Can a school-choice clearinghouse generate a stable matching if it does not allow students to express preferences over peers? Theoretically, we show stable matchings exist with peer preferences under mild conditions but finding one via canonical mechanisms is unlikely. Increasing transparency about the previous cohort's matching induces a tâtonnement process wherein prior matchings function as prices. We develop a test for stability and implement it empirically in the college admissions market in New South Wales, Australia. We find evidence of preferences over relative peer ability, but no convergence to stability. We propose a mechanism improving upon the current assignment process. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima |
以下本年度終了分
| 日時 | April 5, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Giovanni Compiani (The University of Chicago Booth School of Business) A Method to Estimate Discrete Choice Models that is Robust to Consumer Search [Paper] |
| Abstract | We state suffcient conditions under which choice data suffices to identify preferences when consumers are not fully informed about attributes of goods. Standard estimators undervalue hidden attributes, as consumers will be unresponsive to some variation in those attributes. If consumers search goods in order of the component of utility observable to them without search, an alternative method of recovering preferences using cross derivatives of choice probabilities succeeds under both full information and a range of search models and is thus robust to what consumers know when they choose. Our approach can be used to recover preferences from choices made by imperfectly informed consumers, to test for full information, and to forecast how consumers will respond to information. We verify in a lab experiment that our approach succeeds in forecasting the response to new information and assessing the value of that information when consumers engage in costly search. In data from Expedia, our method identifies which attribute was not immediately visible to consumers in search results, and we then use the model to compute the value of information about the hidden attribute. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| 日時 | April 12, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Inga Deimen (The University of Arizona) Communication in the Shadow of Catastrophe (joint work with Dezsö Szalay)[paper] |
| Abstract | We study the role of risk in strategic information transmission. We show that an increased likelihood of extreme states – heavier tails – decreases the amount of information transmission and makes it optimal to alter the mode of decision-making from communication to simple delegation. Moreover, the worst-case losses under communication increase relative to the worst-case losses under delegation when the tails get heavier.
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| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Yichuan Lou |
| 日時 | April 19, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Tomoki Fujii (Singapore Management University) Do Natural Disasters Cause Domestic Violence?: A study of the 2015 Nepal earthquake (joint work with Arpita Khanna) [Paper] |
| Abstract | This study estimates the impact of exposure to the 2015 Nepal Earthquake on intimate partner violence with two rounds of Demographic and Health Surveys data. Using differences-in-differences estimation, we find that exposure to the earthquake lead to a statistically and economically significant increase in intimate partner violence in the urban areas but not in the rural areas. This is possibly due to an increase in the stress felt by the victims. We also offer some evidence that the impact heterogeneity between the urban and rural areas is attributable to the differences in the reconstruction processes and assistance provided. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | April 26, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Youjin Hahn (Yonsei University) Can STEM Learning Opportunities Reshape Gender Attitudes for Girls?: Field Evidence from Tanzania (joint work with So Yoon Ahn and Semee Yoon) [Paper] |
| Abstract | We study how educational opportunities change adolescents’ gender attitudes in Tanzania, using an experiential education program focused on STEM subjects. After the intervention, girls’ gender attitudes became more progressive by 0.29 standard deviations, but boys’ gender attitudes did not change. Perceived improvement in the labor market opportunities appears to be an important channel to explain the result. The intervention also increased girls’ weekly study hours and boosted their interests in STEM-related subjects and occupations. Our results show that providing STEM-related educational opportunities to girls in developing countries can be an effective way of improving their gender attitudes. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| 日時 | April 27, 2022（水 Wednesday）8:30-10:15 ※日時に注意
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。以下ウェブサイトよりご登録ください（通常とURLが異なります）。
Registration: https://u-tokyo-ac-jp.zoom.us/j/83707575275?pwd=N3dCcUswV0VROUg2TEpYS1RLREFYdz09 |
| 報告 | Kei Kawai (University of California, Berkeley) Estimating Candidate Valence (joint work with Takeaki Sunada) [Paper] |
| Abstract | We estimate valence measures for candidates running in U.S. House elections from data on vote shares. Our estimates control for endogeneity of campaign spending and sample selection of candidates due to endogenous entry. Our identification and estimation strategy builds on ideas developed for estimating production functions. We find that incumbents have substantially higher valence measures than challengers running against them, resulting in about 9.2 percentage-point differences in the vote share, on average. We find that open-seat challengers have higher valence measures than those running against incumbents by about 5.3 percentage points. Our measure of candidate valence can be used to study various substantive questions of political economy. We illustrate its usefulness by studying the source of incumbency advantage in U.S. House elections. |
| Co-Host | |
| Organizer | Yasutora Watanabe |
| 日時 | April 28, 2022（木 Thursday）9:00-10:30 ※日時に注意
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Peng Shi (University of South California) Optimal Matchmaking Strategy in Two-Sided Marketplaces [Paper] |
| Abstract | Online platforms that match customers with suitable service providers utilize a wide variety of matchmaking strategies: some create a searchable directory of one side of the market (i.e., Airbnb, Google Local Finder); some allow both sides of the market to search and initiate contact (i.e., Care.com, Upwork); others implement centralized matching (i.e., Amazon Home Services, TaskRabbit). This paper compares these strategies in terms of their efficiency of matchmaking, as proxied by the amount of communication needed to facilitate a good market outcome. The paper finds that the relative performance of the above matchmaking strategies is driven by whether the preferences of agents on each side of the market are easy to describe. Here, ``easy to describe'' means that the preferences can be inferred with sufficient accuracy based on responses to standardized questionnaires. For markets with suitable characteristics, each of the above matchmaking strategies can provide near-optimal performance guarantees according to an analysis based on information theory. The analysis provides prescriptive insights for online platforms. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Shunya Noda |
| 日時 | 変更予定
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Xuan Li (The Hong Kong University of Science and Technology (HKUST)) TBA |
| Abstract | |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Ayako Kondo |
| 日時 | May 17, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Mari Tanaka (Hitotsubashi University) Union Leaders: Experimental Evidence From Myanmar (joint work with Laura Boudreau, Rocco Macchiavello and Virginia Minni) |
| Abstract | Economic theory suggests that leaders may play a key roles in enabling social movements
to overcome collective action problems through a variety of distinct mechanisms.
Empirical tests of these theories outside the lab are scarce due to both measurement
and identification challenges. We conduct multiple field experiments to test theories of
leadership in the context of Myanmar’s burgeoning labor union movement. We collaborate with a confederation of labor unions as it mobilizes garment workers in the run-up to a national minimum wage negotiation. We present three sets of results. First, we document that union leaders differ from union members and non-members along several traits that economists identify as relevant for political selection and that psychologists have associated with ability to influence collective outcomes, respectively. Second, we randomly embed leaders in group discussions on workers’ preferred and expected minimum wage levels. A leader’s presence in the group improves group engagement and
increases workers’ consensus around the unions’ preferred minimum wage levels. Third,
we conduct a mobilization experiment in which workers are invited to participate in an<
unannounced activity that features strategic complementarity in turnout. Leaders influence participation through both coordination and social pressure mechanisms rather than by simply motivating workers. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | May 19, 2022（木 Thursday）10:25-12:10 ※日時に注意
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Ryota Iijima & Mira Frick (Yale University) Learning Efficiency of Multi-Agent Information Structures (joint work with Yuhta Ishii) [Paper] |
| Abstract | We study settings in which, prior to playing an incomplete information game,
players observe many draws of private signals about the state from some information structure. Signals are i.i.d. across draws, but may display arbitrary correlation across players. For each information structure, we define a simple learning efficiency index, which only considers the statistical distance between the worst-informed player’s marginal signal distributions in different states. We show, first, that this index characterizes the speed of common learning (Cripps, Ely, Mailath, and Samuelson, 2008): In particular, the speed at which players achieve approximate common knowledge of the state coincides with the slowest
player’s speed of individual learning, and does not depend on the correlation
across players’ signals. Second, we build on this characterization to provide a ranking over information structures: We show that, with sufficiently many signal draws, information structures with a higher learning efficiency index lead to better equilibrium outcomes, robustly for a rich class of games and objective functions that are “aligned at certainty.” We discuss implications of ourresults for constrained information design in games and for the question when information structures are complements vs. substitutes.
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| Co-Host | |
| Organizer | Akihiko Matsui |
| 日時 | May 24, 2022（火 Tuesday）9:00-10:00 ※日時に注意
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Eric Budish (The University of Chicago Booth School of Business) The Economic Limits of Bitcoin and Anonymous, Decentralized Trust on the Blockchain |
| Abstract | Abstract Satoshi Nakamoto invented a new form of trust. This paper presents a three equation argument that Nakamoto's new form of trust, while undeniably ingenious, is extremely expensive: the recurring, “flow” payments to the anonymous, decentralized compute power that maintains the trust must be large relative to the one-off, “stock” benefits of attacking the trust. This result also implies that the cost of securing the trust grows linearly with the potential value of attack — e.g., securing against a $1bn attack is 1000 times more expensive than securing against a $1m attack. Thus, if Bitcoin is to become significantly more economically useful than it is today, then the cost of maintaining Bitcoin must grow commensurately as well for it to remain trustworthy. A way out of this flow-stock argument is if both (i) the compute power used to maintain the trust is non-repurposable (as has been true for Bitcoin since mid-2013), and (ii) a successful attack would cause the
economic value of the trust to collapse. However, vulnerability to economic collapse is itself a serious problem, and the model points to specific collapse scenarios. The analysis thus suggests a “pick your poison” economic critique of Bitcoin and its novel form of trust. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima |
| 日時 | May 31, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Jacob Leshno (The University of Chicago Booth School of Business) Price Discovery in Waiting Lists: A Connection to Stochastic Gradient Descent (Joint with Itai Ashlagi, Pengyu Qian, and Amin Saberi) |
| Abstract | Waiting lists offer agents a choice among types of items and associated non-monetary prices given by required waiting times. These non-monetary prices are endogenously determined by a tâtonnement-like price discovery process: an item's price increases when an agent queues for it, and decreases when an item arrives and a queuing agent is assigned. By drawing a connection between price adjustments in waiting lists and the stochastic gradient descent optimization algorithm, we show that the waiting list mechanism achieves allocative efficiency minus a loss due to price fluctuations that is bounded by the granularity of price changes. We further consider a price discovery process inspired by the waiting list mechanism and show that this simple price discovery process performs well if the granularity of price changes is chosen to appropriately trade-off the speed of price adaptation and loss from price fluctuations. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima |
| 日時 | June 7, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Jonathan Libgober (University of Southern California) "Learning Underspecified Models" joint with In-Koo Cho |
| Abstract | This paper considers optimal pricing with a seller who does not possess a complete description of how actions translate into payoffs. We refer to a problem with this property as underspecified. To save computational costs, she delegates the pricing decision to an algorithm, in every period over an infinite horizon. Not knowing the true demand curve, the algorithm is tasked with ensuring that the optimal price emerges with sufficiently high probability, at a rate that is uniform over the set of possible demand curves. The monopolist views the complexity-profit tradeoff lexicographically, seeking an algorithm with a minimum number of parameters subject to achieving the same long run average payoff. For a large class of feasible demand curves, the optimum is achieved by an algorithms that assumes demand is linear even if it is not. Though misspecified, this saves on computational cost, and still achieves an attractive worst-case learning rate. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Yichuan Lou |
| 日時 | June 8, 2022（水 Wednesday）10:25-12:10 ** Online and In-Person Seminar |
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| 場所 | 東京大学大学院経済学研究科学術交流棟（小島ホール）1階 第１セミナー室 Please register at the website above because Zoom information is different than usual. Zoom情報が通常と異なるため、上記「Registration」よりご登録をお願いいたします。 |
| 報告 | Cheng Chen (Clemson University) Uncertainty, Imperfect Information, and Expectation Formation over the Firm's Life Cycle
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| Abstract | Using a long-panel data set of Japanese firms that contains firm-level sales forecasts, we provide evidence on firm-level uncertainty and imperfect information over their life cycles. We find that firms make nonnegligible and positively correlated forecast errors. However, they make more precise forecasts and less correlated forecast errors when they become more experienced. We then build a model of heterogeneous firms with endogenous entry and exit where firms gradually learn about their demand by using a noisy signal. We present our novel approach to cleanly isolate the learning mechanism from other mechanisms by using expectations data over time. We combine the model with our data to perform a nonparametric decomposition of the age-declining forecast errors and find that learning accounts for between 20% to 40% of the overall decline in forecast errors observed in our data. Our model shows that, within the context of our cross-regional data, productivity gains from removing information frictions range from 6% to 12%. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Taiji Furusawa |
| 日時 | June 14, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Hongyao Ma (Columbia Business School) "Randomized FIFO Mechanisms" Francisco Castro, Hongyao Ma, Hamid Nazerzadeh and Chiwei Yan [Paper] |
| Abstract | We study the matching of jobs to workers in a queue, e.g. a ridesharing platform dispatching drivers to pick up riders at an airport. Under FIFO dispatching, the heterogeneity in trip earnings incentivizes drivers to cherry-pick, increasing riders’ waiting time for a match and resulting in a loss of efficiency and reliability. We first present the direct FIFO mechanism, which offers lower-earning trips to drivers further down the queue. The option to skip the rest of the line incentivizes drivers to accept all dispatches, but the mechanism would be considered unfair since drivers closer to the head of the queue may have lower priority for trips to certain destinations. To avoid the use of unfair dispatch rules, we introduce a family of randomized FIFO mechanisms, which send declined trips gradually down the queue in a randomized manner. We prove that a randomized FIFO mechanism achieves the first best throughput and the second best revenue in equilibrium. Extensive counterfactual simulations using data from the City of Chicago demonstrate substantial improvements of revenue and throughput, highlighting the effectiveness of using waiting times to align incentives and reduce the variability in driver earnings. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Shunya Noda |
| 日時 | June 21, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | YingHua He (Rice University) "Leveraging Uncertainties to Infer Preferences: Robust Analysis of School Choice" Yeon-Koo Che, Dong Woo Hahm, and YingHua He |
| Abstract | Recent evidence suggests that market participants make mistakes even in a strategically straightforward environment but seldom with significant payoff consequences. We explore the implications of such payoff-insignificant mistakes for inferring students' preferences from school-choice data. Uncertainties arise from the use of lotteries or other sources in a typical school choice setting; they make certain mistakes more costly than others, thus making some preferences---those whose misrepresentation would be more costly and would thus be avoided by students---more reliably inferable than others. We propose a novel method of exploiting the structure of the uncertainties present in a matching environment to robustly infer student preferences under the Deferred-Acceptance mechanism. We then apply our methods to estimate student preferences through a Monte Carlo analysis capturing canonical school choice environments with single tie-breaking lotteries, and also to New York City's high school assignment data. We then evaluate the effects of an affirmative action policy on disadvantaged and non-disadvantaged students. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| 日時 | June 28, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインでの、ハイブリッド開催となります。オンラインでは(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場:東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Michihiro Kandori (The University of Tokyo) ※ Downloading may take some time because of the file size. |
| Abstract | How do humans behave in a situation where (i) one needs to make one’s own behavior unpredictable and (ii) one needs to predict the opponent’s behavior? Such a situation can be formulated as a game with a mixed strategy equilibrium. If humans are put in such a situation, it should be obvious that, rather than calculating and following the mixed equilibrium, they use their intuition, hunch, and some heuristics to achieve the above-mentioned goals (i) and (ii). Exactly what kind of mechanisms are employed has not been fully understood. By using a unique big experimental data set we have collected about a game with mixed strategy equilibrium, which has more than 75,000 observations, we compare conventional behavior economics models and some leading machine learning models to uncover how human behavior is determined in such a situation. Our big data enabled us to obtain a reliable comparison of the prediction powers of those models, and we found that machine learning models, most notably a version of the deep learning model LSTM, substantially outperform the leading behavioral model (EWA). Finally, we try to improve the EWA model by incorporating the insights gained by the machine learning models. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Shunya Noda |
| 日時 | June 29, 2022（水 Wednesday）13:00-14:30 *(6/28)Time has been changed.
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインでの、ハイブリッド開催となります。オンラインでは(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場:東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Kota Murayama (The Chinese University of Hong Kong) "The social value of information in networked beauty contest model" |
| Abstract | This paper studies the social value of information in the beauty contest model that allows for heterogeneous coordination motives. First, we relate the structure of agents’ coordination motives to their equilibrium use of information. In particular, the relative sensitivity of the equilibrium actions to private and public information is proportional to their Katz-Bonacich centralities. Our main result provides a taxonomy of how the social value of public information depends on the network structure: more precise public information necessarily improves welfare if and only if the weighted sum of agents’ Katz-Bonacich centralities is sufficiently small. Finally, we study the optimal degree of public information dissemination and the endogenous acquisition of private information. |
| Co-Host | |
| Organizer | Shunya Noda |
| 日時 | July 5, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインでの、ハイブリッド開催となります。オンラインでは(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Michael Zierhut (Humboldt University) "Dynamic Inconsistency and Inefficiency of Equilibrium under Knightian Uncertainty" [Paper] |
| Abstract | This paper extends the theory of general equilibrium with Knightian uncertainty to economies with more than two dates. Agents have incomplete preferences with multiple priors `a la Bewley. These priors are updated in light of new information. Contrary to the two-date model, the market outcomes varies with choice of updating rule. We document two phenomena: First, unless agents apply the full Bayesian rule, consumption decisions may be dynamically inconsistent. Second, unless they apply the maximum-likelihood rule, ambiguous probability mass may dilate, which causes price fluctuations. Either phenomenon results in Pareto inefficient allocations. We ask whether it is possible to design one updating rule that prevent both phenomena. The answer is negative: No such rule exists. Efficiency can be restored by restricting priors: Full Bayesian and maximum-likelihood updates agree when priors are rectangular, and when ambiguity is sufficiently large, all equilibria are Pareto efficient, even if prices and allocations change over time. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Akifumi Ishihara / Shunya Noda |
| 日時 | July 12, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Tatyana Avilova (Columbia University/ The University of Tokyo) “Patient Cost Sharing and Prescription Drug Trends: Evidence from Japan” |
| Abstract | This paper studies the impact of a change in patient cost sharing on total prescription drug spending. I exploit a feature of the Japanese health care system, where an individual’s coinsurance rate is determined primarily by their age. I contribute to the existing literature by investigating heterogeneous effects by patient sex and drug therapeutic class (focusing on cardiovascular drugs, antibiotics, vitamins, antihistamines, and psychotropic drugs). I find that for the whole sample, price elasticity for spending ranges from —0.12 to —0.23. This is comparable to previous estimates of price elasticity of spending for general medical services (—0.2). I find no evidence of heterogeneous effects by sex over the whole sample of prescriptions, but I do find statistically significant differences between women and men within therapeutic drug classes. I also conduct exploratory analysis on the effect of changes in patient cost sharing on the volume of prescriptions. I estimate a price elasticity of demand between —0.33 and —0.69, which is larger than previous estimates of demand elasticity for general medical services (—0.16 to —0.2). I also find evidence that physicians do not respond on the intensive margin by prescribing more expensive medications. Although Japanese patients are more likely to be prescribed brand-name drugs, patients on generics may be more price sensitive to changes in patient cost sharing. Overall, the findings suggest that physicians respond by prescribing a greater quantity of medications, either on the extensive or the intensive margin. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | July 19, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Kentaro Nakajima (Hitotsubashi University) "On the Use of Satellite-Based Vehicle Flows Data to Assess Local Economic Activity: The Case of Philippine Cities" (with Eugenia C. Go, Yasuyuki Sawada, and Kiyoshi Taniguchi) |
| Abstract | Spatially granular data of local economic activities are widely demanded in economic analysis; however, their availability is limited, especially in developing countries. This study proposes vehicle traffic volume data, obtained from daytime satellite images, as a new measure of local economic activities for policy evaluation. Vehicles observed at a given location are considered to represent human traffic in the area, and are, therefore, appropriate proxy variables for local economic activities. We construct vehicle density data in each 500 m times 500 m tile from high-resolution satellite images, using a machine learning algorithm. Validation exercises using administrative, nightlight luminosity, and cell phone based human flow data, confirm vehicle density proxies well for local economic activities, especially in the service sector. As a case for application of the data for policy evaluation, the opening of the new international airport terminal in Cebu, Philippines is used to estimate the impact of the new infrastructure on the local economy. Results of the difference-in-differences analysis show that the new terminal significantly increased vehicle density in Cebu. However, it lessens as the distance from the airport increases, is stronger in areas where hotels are located, and is most pronounced during the peak months of international tourists in Cebu. These findings imply that the opening of the new international terminal has enhanced Cebu's local economy through international tourism, and our proposed new measure works well for policy evaluations. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | ※ 修士論文報告会 Master's Thesis Presentations ※ |
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | 10:00-10:30 Ichio Aoki (Readers: Masaki Nakabayashi(main),Keisuke Kawata, Masahiro Shoji) |
| 日時 | July 26, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Nina Bobkova (Rice University) Information Choice in Auctions |
| Abstract | |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Yichuan Lou |
| 日時 | August 5（金 Friday）14:55-16:40 *Seminar Postponed from July 29 |
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場:東京大学本郷キャンパス 小島ホール1階 第2セミナー室 in Seminar Room 2 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Kohei Kawaguchi (Hong Kong University of Science and Technology) Miners' Reward Elasticity and Stability of Competing Proof-of-Work Cryptocurrencie |
| Abstract | Proof-of-Work cryptocurrencies consume vast energy to rule out potential attacks. Therefore, evaluating and improving the security-cost efficiency, the cost of attacking the system per unit of operating cost, is important. In this paper, we demonstrate that the stability of miners' supply of work over time is essential for the security-cost efficiency, and it is determined by the Difficulty Adjustment Algorithm (DAA) of the currency and the reward elasticity of the miner's supply of work. To this end, we model the supply side of the multicurrency mining market and estimate the own- and cross-elasticity of the hash supply to the reward by exploiting the reward shock event, called halving. We use the estimated model to simulate the mining market and evaluate the security-cost efficiency. We find that Bitcoin is stable because of the inelastic miners, regardless of the DAA, whereas other smaller coins face highly elastic miners and can be stable only with efficient DAAs. Upgrading all relevant currencies' DAAs to the state-of-art one substantially improves the security-cost efficiency and saves the energy-consumption rate by 0.21 GW or 3.2％ while maintaining the security level. |
| Organizer | Shunya Noda |
| 日時 | October 4, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | Yingni Guo (Northwestern University) |
| Abstract | We study the regulation of a monopolistic firm using a non-Bayesian approach.
We derive the policy that minimizes the regulator’s worst-case regret, where regret is the difference between the regulator’s complete-information payoff and his realized payoff.
When the regulator’s payoff is consumers’ surplus, he imposes a price cap. When his payoff is the total surplus of both consumers and the firm, he offers a capped piece-rate subsidy.
For intermediate cases, the regulator uses both a price cap and a capped piece-rate subsidy.
The optimal policy balances three goals: giving more surplus to consumers, mitigating underproduction, and mitigating overproduction. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Yichuan Lou |
| 日時 | October 11, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Daniel Quint (University of Wisconsin-Madison) |
| Abstract | We analyze the equilibrium effects of “bid shopping” – a contractor soliciting a subcontractor bid for part of a project prior to a procurement auction, then showing that bid to a competing subcontractor in an attempt to secure a lower price. Such conduct is widely criticized as un-ethical by professional organizations, and has been the target of legislation at both the federal and state level, but is widespread in procurement auctions in many places. Our baseline model suggests that bid shopping that brings in new subcontractors after the auction – rather than diverting some existing subcontractors to post-auction competition – always increases social surplus, benefitting the procurer at the expense of the existing subcontractors. Bid shopping that causes some subcontractors to wait to bid until after the auction tends to decease total surplus when subcontractors’bid preparation costs are low, but may increase total surplus when bid preparation costs are high. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima (Shunya Noda) |
| 日時 | October 18, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Aniko Öry (Yale School of Management) Dynamic Price Competition: "Theory and Empirical Evidence" From Airline Markets [Paper] |
| Abstract | We introduce a model of oligopoly dynamic pricing where firms with limited capacity
face a sales deadline. We establish conditions under which the equilibrium is unique and converges to a system of differential quations. Using unique and comprehensive pricing and bookings data for competing U.S. airlines, we estimate our model and find that dynamic pricing results in higher output but lower welfare than under uniform pricing. Our theoretical and empirical findings run counter to standard results in single-firm settings due to the strategic role of competitor scarcity. Pricing heuristics commonly used by airlines increase welfare relative to estimated equilibrium predictions. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Michihiro Kandori (Shunya Noda) |
| 日時 | October 25, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Makoto Yokoo (Kyushu University) "Matching Market Design with Constraints"[Paper] |
| Abstract | Abstract: Two-sided matching deals with finding a desirable combination of two parties, e.g., students and colleges, workers and companies, and medical residents to hospitals. Beautiful theoretical results on two-sided matching have been obtained, i.e., the celebrated Deferred Acceptance mechanism is strategyproof for students, and obtains the student optimal matching among all stable matchings. However, these results are applicable only for the standard model, where only distributional constraints are the maximum quota (capacity limit) of each college. In many real application domains, various distributional constraints are imposed due to social requirements. For example, a college needs a certain number of students to operate, or some medical residents must be assigned to a rural hospital. In this talk, I represent a simple and general abstract model, and introduce a few representative constraints that can be formalized using this model. In this model, distributional constraints are defined over a set of allocation vectors, each of which describes the number of students allocated to each college. Then, I present two general mechanisms. One is the generalized DA, which works when distributional constraints satisfy two conditions: hereditary and an M-natural-convex set [1]. More specifically, the generalized DA is strategyproof, and finds the student optimal matching among all matchings that satisfy some stability requirement. The other is the adaptive DA [2], which works when distributional constraints satisfy hereditary condition. It is strategyproof and nonwasteful. [1] Kojima, F., Tamura, A., Yokoo, M.: Designing matching mechanisms under constraints: An approach from discrete convex analysis, Journal of Economic Theory, 176 (2018) [2] Goto, M., Kurata, R., Kojima, F., Kurata, R., Tamura, A, Yokoo, M.: Designing Matching Mechanisms under General Distributional Constraints, American Economic Journal: Microeconomics, 9 (2):226-62, (2017). |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima (Shunya Noda) |
| 日時 | November 1, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Hiroko Okudaira (Doshisha University) "Parental Investment after Adverse Event: Evidence from the Great East Japan Earthquake" |
| Abstract | Parents often increase private investment in their children when they fear the negative effects of an adverse event. However, such an endogenous response makes it difficult to identify the cost of the adverse event and those disadvantaged by the shock. This study investigates the nature of an adverse shock that leads to endogenous responses by parents. Relying on the types of damage caused by the Great East Japan Earthquake, we find that parents exposed to intense ground motion increased their investment in children’s cognitive skills. This positive response survives or becomes even larger after accounting for physical destruction and radioactive contamination. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| 日時 | November 8, 2022（火 Tuesday）10:25-12:10
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|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Susumu Sato (Hitotsubashi University) "Competition in Two-Sided Markets: an Aggregative-Games Approach" |
| Abstract | This article develops an aggregative-games framework for studying asymmetric platform oligopoly in two-sided markets. Using a model of platform choice that has a unique stable consumption equilibrium, I derive an IIA demand system for two-sided platforms that generalizes multinomial logit models. Then, I represent platform competition as an aggregative game and apply it to three competition analyses: platform dominance, platform mergers, and long-run equilibrium with fringe entry. The dominance of a large platform is associated with a higher consumer surplus on one side only when the consumers benefit from both network effects and two-sided pricing. The merger analysis demonstrates that network effects serve as a synergy but also make large mergers harmful to consumers, and the pre-merger price structure provides useful information on the effects of two-sided pricing. In an equilibrium with fringe entry, any change in competitive environments that benefits consumers on one side hurts consumers on the other side. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Shunya Noda |
| 日時 | November 15, 2022（火 Tuesday）10:25-12:10
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| 場所 | Zoomを使ったオンラインでの開催(事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required). Please read the instruction at the bottom of this website for details. |
| 報告 | |
| Abstract | We introduce price freeze options (PFOs) into a model of sequential search. The model’s predictions are tested in a laboratory experiment. The experiment varies (1) whether freezing is possible or not, (2) the cost of freezing, and (3) the time horizon. Overall, the observed treatment effects are consistent with the predictions of our model. Assuming that individuals experience regret, fail to ignore sunk search costs, misperceive the number of periods remaining, or are risk-averse, does not improve upon the performance of the model. Our results support the use of the assumption of optimal search behavior in theoretical and empirical studies. |
| Co-Host | |
| Organizer | Hidehiko Ichimura (Suk Joon Son) |
| 日時 | November 29, 2022（火 Tuesday）10:25-12:10 ※オンライン開催に変更されました
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| 場所 | 本ワークショップは、Zoomを利用してのオンライン開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
This seminar is held online (registration is required for online participation) only. Please read the instruction at the bottom of this website for details. |
| 報告 | Yu Bai (The University of Tokyo) "Sophie and the locust curse: Effects of locust plague on human capital accumulations" |
| Abstract | This paper investigates whether and how locust swarm invasion created a devastating and long-lasting effect on the human capital accumulation of the offspring. We combine a geo-referenced dataset on locust presence obtained from the Food and Agriculture Organization (FAO) with the educational outcomes of nearly 33,000 local children aged from 6 to 19 from the Burkinabe Response to Improve Girls' Chances to Succeed (BRIGHT) dataset across 10,000 households from 56 counties of residence. Using a difference-in-differences identification strategy with household fixed effects, we show that locust invasion significantly hindered school enrollment of children who experienced the plague at their school ages compared to their elder or younger siblings who did not. These adverse effects persisted as they also performed worse in Math and French cognitive tests conducted eight years after the plague and in their long-term occupational outcomes. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | December 2, 2022（金 Friday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Shoya Ishimaru (Hitotsubashi University) "Geographic Mobility of Youth and Spatial Gaps inLocal College and Labor Market Opportunities"[Paper] |
| Abstract | This paper examines the importance of college and labor market opportunities for thecausal link between childhood locations and adulthood economic outcomes. I develop andestimate a dynamic model of individual choice of whether and where to attend college andwhere to work, accounting for home preferences, spatial search friction, and moving costs. Theestimated model suggests that substantial gaps in college attendance rates and the expectedwages among children from different counties in the US would arise from imperfect mobility incollege and locational decisions, even in the absence of spatial gaps in family background andchildhood neighborhood quality. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| 日時 | December 6, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Tong Wang (The University of Tokyo) "Dynamic Matching: Centralized Early Admissions and Affirmative Actions" |
| Abstract | In the past decade, one of largest changes in the Chinese high school admission is adopting a Chinese version of affirmative actions. The Chinese armative action involves a flexible and privilege-based school choice method that has gained profound fame through time. Specifically, in the admission procedure, several designated students receive a privilege (lump-sum extra scores) apart from their exam scores. Two popular procedures are used to determine who could receive this privilege: one involves an early selection before the normal admission procedure, and the other adjusts the priority based on the rank-ordered list submitted by schools also in the normal admission procedure. However, neither of these two mechanisms is minimal responsive or respects improvement. This study proposes a new privilege-based mechanism, namely, the student optimal type-privilege mechanism (SOTPM), which is strategy-proof, minimal responsive and respects improvement. We also combine a administrative record with survey data from China to estimate students' preferences and conduct the counterfactual analysis. We find that SOTPM can considerably increase the chances of students from low quality middle schools to gain entry into good quality high schools. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Masahiro Shoji |
| 日時 | December 12, 2022（月 Monday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Kota Saito (California Institute of Technology) "Approximating Choice Data by Discrete Choice Models"Haoge Chang, Yusuke Narita, and Kota Saito[Paper] |
| Abstract | We obtain a necessary and sufficient condition under which random-coefficient discrete choice models such as the mixed logit models are rich enough to approximate any nonparametric random utility models across choice sets. The condition turns out to be very simple and tractable. When the condition is not satisfied and, hence, there exists a random utility model that cannot be approximated by any random-coefficient discrete choice model, we provide algorithms to measure the approximation errors. After applying our theoretical results and the algorithms to real data, we find that the approximation errors can be large in practice. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima (Yichuan Lou) |
| 日時 | December 13, 2022（火 Tuesday）10:25-12:10
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|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | William Fuchs (The University of Texas at Austin McCombs School of Business and Universidad Carlos III) "Time Trumps Quantity in the Market for Lemons"William Fuchs, Piero Gottardi and Humberto Moreira[Paper] |
| Abstract | We consider a dynamic adverse selection model where privately informed sellers of divisible assets can choose how much of their asset to sell at each point in time to competitive buyers. With commitment, delay and lower quantities are equivalent ways to signal higher quality. Only the discounted quantity traded is pinned down in equilibrium. With spot contracts and observable past trades, there is a unique and fully separating path of trades in equilibrium. Irrespective of the horizon and the frequency of trades, the same welfare is attained by each seller type as in the commitment case. When trades can take place continuously over time, each type trades all of its assets at a unique point in time. Thus, only delay is used to signal higher quality. When past trades are not observable, the equilibrium only coincides with the one with public histories when trading can take place continuously over time. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Yichuan Lou |
| 日時 | December 14, 2022 (Wednesday) 13:00-14:30 * Irregular Schedule, Zoom information is different than usual. 通常とURLが異なりますのでお気を付けください。 |
|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインでの、ハイブリッド開催となります。詳細は本ウェブサイト上の説明をご確認ください。 ■ 対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 This seminar is held in-person and online (registration is required for online participation). Please read the instruction above for details. |
| 報告 | Ippei Shibata (International Monetary Fund) "Did the COVID-19 Recession Increase the Demand for Digital Occupations in the United States? Evidence from Employment and Vacancies Data" [Paper] |
| Zoom Registration | Registration <-- Please click here for online participation. |
| Abstract | |
| 共催 | 主催：マクロ経済学ワークショップ、 共催：ミクロ実証分析ワークショップ |
| Organizer | Daisuke Fujii |
| 日時 | December 16, 2022（金 Friday）10:25-12:10
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|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。通常とURLが異なりますのでお気を付けください。 |
| Zoom Registration | Zoom URL is different than usual. For participation, please register at the website below in advance. Registration <-- Please click here for online participation. |
| 報告 | Stephen Ross Yeaple (Pennsylvania State University) "Co-location of production and innovation: Evidence from the United States" (joint work with Teresa Fort, Wolfgang Keller, Peter Schott, and Nicolas Zolas) |
| Abstract | Manufacturers perform the majority of US patenting and R&D. The decades-long decline of US
manufacturing employment has thus raised concerns that US innovation will fall as well. We in-
vestigate the relationship between between physical production and innovation by constructing
a new dataset linking all US firms and their establishments to location geocodes and innovative
activities. Preliminary results are mixed. While firms with both physical-production and inno-
vation establishments exhibit higher patenting when these facilities are more spatially proximate,
manufacturers’ overall contribution to US innovation declines steadily and substantially over time.
In addition, some cohorts of firms that permanently exit manufacturing continue to patent at their
prior pace. |
| Co-Host | Organizer: Tokyo Workshop on International and Development Economics (TWID), Co-Host: Macroeconomics Workshop |
| Organizer | Taiji Furusawa |
| 日時 | December 19, 2022（月 Monday）10:30-12:00 ※曜日と時間にご注意ください
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|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。通常とURLが異なりますのでお気を付けください。 |
| Registration | Zoom URL is different than usual. For participation, please register at the website below in advance. Registration <-- Please click here for online participation. |
| 報告 | Minji Bang (City University of Hong Kong) "Job Flexibility and Household Labor Supply: Understanding Gender Gaps and the Child Wage Penalty" |
| Abstract | This paper investigates how occupational flexibility affects married couples’ labor supply and the gender pay gap around childbirth. Using the NLSY79 data and Goldin’s (2014) measure of occupational flexibility, I show that flexibility is a significant determinant of married couples’ labor supply adjustments. When a husband’s job exhibits low flexibility, couples are more likely to specialize with the wife dropping out of the labor market and the husband increasing hours worked. In contrast, couples with greater flexibility show less labor supply adjustment to childbirth. To analyze the relationship between occupational flexibility and family-friendly labor market policies, I develop and estimate a dynamic discrete choice model of couples’ decision-making about labor supply and occupations. In the model, occupations are characterized by wage-hours schedules and flexibility levels. I find that increasing women’s and men’s own occupational flexibility increases labor force participation by 4 percentage points in the childbirth year. Interestingly, increasing husband’s flexibility has a greater impact on the wife’s labor adjustment than her own flexibility, augmenting her participation rate and working hours by 10 and 7 percentage points. Finally, I evaluate the effects of family-friendly policies providing temporary flexibility for couples experiencing a birth in the last two years. Policies that target women increase female labor supply and reduce the gender pay gap by 8% in the long run. However, when the benefits are offered to both spouses, the positive effects on the wife’s labor supply are weakened, and the gender pay gap expands in the long run. |
| Co-Host | 主催 : ミクロ実証ワークショップ, 共催：マクロ経済学ワークショップ |
| Organizer | Drew Griffin (Suk Joon Son) |
| 日時 | December 19, 2022（月 Monday）10:30-12:00 ※時間と場所にご注意ください
|
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Mihai Manea (Stony Brook University) "Bargaining and Exclusion with Multiple Buyers" [Paper] |
| Abstract | |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima |
| 日時 | December 20, 2022（火 Tuesday）10:25-12:10
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|---|---|
| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Daisuke Adachi (Aarhus University) "Multinational Production and Labor Share" |
| Abstract | We study the role of multinational enterprises (MNEs) on the labor share in the source country. A unique natural experiment from the 2011 Thailand Floods, which forced Japanese-MNEs plants to halt operations, is employed. This foreign productivity shock leads to a relative decrease in domestic employment and fixed assets of the MNEs affected by the flood, with a stronger effect on the latter. We propose a heterogeneous firm GE model that features a production function with offshore factor inputs and an ``extensive margin hat algebra'' method to solve the model quantitatively without observing the cost savings of marginal offshorers. We estimate the elasticity of substitution between home labor and foreign inputs by relating the home and foreign factor demands to the flood shock. The estimated model indicates that foreign factor productivity growth increased capital demand in Japan more than labor demand, reducing the labor share in Japan by 1.67 percentage points from 1995-2016. |
| Co-Host | |
| Organizer | Daiji Kawaguchi (Suk Joon Son) |
| 日時 | December 27, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Yuta Toyama (Waseda University) "Welfare Effects of Nonlinear Electricity Pricing with Misperception: A Case of Free Electricity Policy" (joint with Ngawang Dendup) |
| Abstract | This paper evaluates the welfare effects of nonlinear electricity pricing when consumers may have a misperception about the pricing schedule. We focus on a unique electricity subsidy program in Bhutan where electricity is provided for free up to 100 kWh per month. Using administrative billing data from the universe of retail customers, we find a distinctive bunching of consumption at 100 kWh after the introduction of the program. To interpret this observation and derive welfare implications of the policy, we construct and estimate a model of electricity demand for consumers with different types of misperceptions. We identify the composition of consumer types by exploiting the differential behavior of each type near the threshold and the variation of tariff schedule across regions and over time. We then conduct a simulation analysis to evaluate the free electricity policy. The current subsidy scheme benefits households with higher electricity consumption. The welfare loss due to the misperception is about 1%-5% of monthly electricity expenditure. Finally, we investigate the optimal tariff schedule and its welfare and distributional implications. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Suk Joon Son |
| Date and Time | Six Lectures on Non-CES Demand Systems and Their Applications （In-Person Only) Friday December 2, 14:55-16:40Friday December 9, 14:55-16:40 Friday December 16, 14:55-16:40 Friday December 23, 14:55-16:40 Friday January 6, 14:55-16:40 Wednesday January 11, 14:55-16:40
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| Venue | 東京大学国際学術総合研究棟5階515演習室 *Please be noted the Seminar Venue. |
| Speaker | Kiminori Matsuyama (Northwestern University) [Syllabus]
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| Co-Host | Organizer: Faculty of Economics, The University of Tokyo, Co-Host: Macroeconomics Workshop |
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※ 修士論文報告会 Master's Thesis Presentations ※
January 10, 17, 2023（火 Tuesday）10:00- |
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| 場所 | 本ワークショップは、対面のみで開催されます。詳細は本ウェブサイトの説明をご確認ください。 The presentations are held in-person only. Please gather at the seminar venue by the starting time of the seminar. ■ 対面会場: 東京大学大学院経済学研究科学術交流棟（小島ホール）1階第1セミナー室, 第3セミナー室 |
| Notice | Presentation Materials: Your thesis paper can be printed by CIRJE and distributed at the seminar venue. Please send an electronic file of it to CIRJE at cirje [at mark] e.u-tokyo.ac.jp, so that CIRJE can duplicate it. The submission deadline is (please be punctual): January 10 : by 9:00am on January 5 (Thursday) January 17 : by 9:00am on January 13 (Friday) Please make sure that: * Submission behind the deadline is not accepted for any reason. * The file/hardcopy submitted to CIRJE should be the final version. * You need to send your emergency contact information (like a cell phone number) together with your thesis file, so that CIRJE can immediately reach you in case the file cannot be opened/is broken. * Please put a file of your presentation slides only in your USB memory when you come to the seminar venue since it is sometimes not recognized when other files are inculded in the USB memory. * Those who missed the deadline or those who wish to revise the thesis paper after the submission are required to make 7 hardcopies of it and bring them to the seminar venue on the presentation day. * You MUST attend an official oral examination in addition to this master thesis presentation: for details, please see the schedule to be distributed by the Graduate Office when you submit your thesis.* Presenters can use equipment such as a computer and a pointer in a locker at the entrance of the seminar venue on the presentation day: make sure they should be back into place after use.
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| 報告 | January 10 (Tuesday) Seminar Room 1, 1st Floor 10:00-10:40 野吾 綾乃 (Readers: Kojima (main), Kandori, Matsui) 10:40-11:10 田中 伸一 (Readers: Kojima (main), Kandori, Matsui) 12:30-13:00 MENG Lin (Readers: Furusawa (main), Kucheryavyy, Sawada） 15:00-15:30 米谷 道 (Readers: Matsumura (main), Cato, Ishihara） 15:30-16:00 石嶋 時也(Readers: Cato (main), Matsumura, Ishihara)
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January 17 (Tuesday) Seminar Room 1, 1st Floor 10:00-10:40 米田 岳広 (Readers: Furusawa (main), Kucheryavyy, Sato) 10:40-11:10 XU Shaocong (Readers: Sasaki (main), Ogawa, Nakata） 12:30-13:00 清水 木楠 (Readers: Kojima(main), Iizuka, Kandori, Oyama） 13:00-13:30 鶴田 翔也 (Readers: Kojima(main), Kandori, Oyama） |
| 日時 | January 31, 2023（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Seunghoon Lee (Yonsei University) "Entry and Welfare in General Equilibrium with Heterogeneous Firms and Endogenous Markups"(written with Kyle Bagwell) [Paper] |
| Abstract | We consider the efficiency of market entry in single- and two-sector closed-economy versions of the Melitz-Ottavanio (MO) model, where differently from the MO model our two-sector model does not involve an outside good. For each model version, we assess whether the market level of entry is efficient relative to the second-best setting in which the planner can control only the level of entry. Focusing on entry levels that induce selection, we show that the market level of entry is efficient in the single-sector model. For a two-sector MO model without an outside good, we show that the welfare results are exactly similar to those in the one-sector model when the two sectors are symmetric. When the two sectors are asymmetric and the level of asymmetry is sufficiently small, we identify a perturbation indicating a sense in which the market level of entry into the ìhigh-demandîsector is excessive. This intersectoral misallocation occurs at the market equilibrium even though endogenous average markups are equal across sectors. We also show how the outcomes induced by the planner ís direct choice of entry levels alternatively can be induced through the appropriate choice of entry tax/subsidy policies. |
| Co-Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Taiji Furusawa, Masahiro Shoji |
| 日時 | February 20, 2023（月 Monday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Núria Rodríguez-Planas (City University of New York) Emergency Relief Fund for Undocumented and Low-Income College Students: Evidence from a CUNY lottery-based grant |
| Abstract | Using administrative records from spring 2020 to spring 2022, this paper estimates the impacts of a one-time $500 lottery-based grant targeted to low-income students attending the City University of New York (CUNY), the public university system in New York City, on students' academic persistence, academic performance, degree completion and enrollment in a higher degree after graduation up to two years after grant receipt. During the spring 2020 semester, a total of $1.2 million fund was distributed to 2,488 qualifying students—out of 14,248 eligible students who had applied for the cash grant (10% of the CUNY undergraduate student population). To be eligible for Wave 1, students had to be within 12 credits of degree completion. There was no credit requirement for Wave 2. For students seeking an Associate degree, we find that the grant increased the likelihood of graduating by a certain semester by 5.5% to 8% relative to students in the control group (control avg range between 53% in summer 2020 and 77% in spring 2022). Furthermore, the grant increased the likelihood of pursuing a higher degree by 13% (relative to the control mean of 31%). Both results persist over time. For students seeking a Bachelor's degree, we find that the grant delayed graduation by 3 semesters relative to the control group. By the end of Fall 2021, their graduation rate had caught up to that of the control group of 88%. In addition, we find that treated students earned more cumulative credits by Spring 2021 than students in the control group, and failed less credits, suggesting that students took advantage of the grant to accumulate human capital. |
| Co-Host | |
| Organizer | Ryuichi Tanaka, Masahiro Shoji |
| 日時 | March 14, 2023（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Joel Rodrigue (Vanderbilt University) Exporting and Investment under Credit Constraints" [Paper] |
| Abstract | |
| Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Taiji Furusawa, Masahiro Shoji |
| 日時 | March 14, 2023（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。
■対面会場: 東京大学本郷キャンパス 小島ホール第1セミナー室 in Seminar Room 1 on the 1st floor of the Kojima Hall This seminar is held in-person and online (registration is required for online participation). Please read the instruction at the bottom of this website for details. |
| 報告 | Joel Rodrigue (Vanderbilt University) Exporting and Investment under Credit Constraints" [Paper] |
| Abstract | |
| Host | Tokyo Workshop on International and Development Economics (TWID) |
| Organizer | Taiji Furusawa, Masahiro Shoji |
| 日時 | March 28, 2022（火 Tuesday）10:25-12:10
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| 場所 | 本ワークショップは、対面とZoomを利用してのオンラインとのハイブリッド開催となります。オンラインでは（事前登録制）となります。詳細は本ウェブサイト下部の説明をご確認ください。 |
| 報告 | Bobak Pakzad-Hurson (Brown University) "Do Peer Preferences Matter in School Choice Market Design? Theory and Evidence" joint with Natalie Cox, Ricardo Fonseca, and Matthew Pecenco |
| Abstract | Can a school-choice clearinghouse generate a stable matching if it does not allow students to express preferences over peers? Theoretically, we show stable matchings exist with peer preferences under mild conditions but finding one via canonical mechanisms is unlikely. Increasing transparency about the previous cohort's matching induces a tâtonnement process wherein prior matchings function as prices. We develop a test for stability and implement it empirically in the college admissions market in New South Wales, Australia. We find evidence of preferences over relative peer ability, but no convergence to stability. We propose a mechanism improving upon the current assignment process. |
| Co-Host | The University of Tokyo Market Design Center (UTMD) |
| Organizer | Fuhito Kojima |
Zoomを利用したオンライン開催について （Online Seminars Using Zoom)
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当面の間、本ワークショップはZoom を利用してオンラインで開催されます。 以下の注意事項を必ずご確認のうえご準備をお願いいたします。 Microeconomics Workshop is held online using Zoom for the time being. Please read the following instruction for participation.
※ 登録 (Registration) 事前登録が必須となります。 下記よりご登録頂けますと、 ミーティングURLがemailで送付されます。 事前に、ご利用の端末にZoomアプリケーションのインストールをお済ませください。 （Zoomアカウントをお持ちの方は、emailにあるID, パスワードを使ってサインインして頂くことも可能です。） Registration is required to join a seminar. Please register in advance at the following website so that detailed information containing meeting URL will be provided via email. Please make sure to install ZOOM Cloud Meetings (application)on your computer or cell phone in advance. (If you have a Zoom account, sign-up using ID and password included in the email is also available.) Please click here for registration : |