June 28, 2019
"Our findings suggest that medical factors play a much smaller role in causing U.S. bankruptcies than has previously been claimed. Overemphasizing 'medical bankruptcies' may distract from understanding the true nature of economic hardship arising from high-cost health problems,” wrote researchers of the 2018 study. - The Washington Post
June 24, 2019
The Department of Economics welcomed over 300 graduating students and their families at our Annual Senior Lunch and Awards Ceremony.
June 18, 2019
Bridgette Proctor Heller has more than 30 years of experience as a senior executive with Fortune 500 companies, with an exceptional track record of growing consumer businesses and building highly effective teams.
June 18, 2019
Although uncertainty is a common element of patient care, it has largely been overlooked in research on evidence-based medicine. Patient Care under Uncertainty strives to correct this glaring omission. Applying the tools of economics to medical decision making, Charles Manski shows how uncertainty influences every stage, from risk analysis to treatment, and how this can be reasonably confronted.
June 7, 2019
For the past three years, he served on the three-person organizing committee for the AEA Conference on Teaching and Research in Economic Education (CTREE), which was held in Denver (2017), San Antonio (2018), and St. Louis (2019).
June 4, 2019 – from UCI
We study information as an incentive device in a dynamic moral hazard frame- work. An agent works on a task of uncertain difficulty, modeled as the duration of required effort. The principal knows the task difficulty and can provide information over time with the goal of inducing maximal effort. The optimal mechanism features moving goalposts: an initial disclosure makes the agent sufficiently optimistic that the task is easy in order to induce him to start working. If the task is indeed difficult the agent is told this only after working long enough to put the difficult task within reach. Then the agent completes the difficult task even though he never would have chosen to at the outset. The value of dynamic disclosure implies that principal prefers a random threshold over any deterministic scheme. We con- sider extensions to two-player pre-emption games and bandits.
June 4, 2019
The paper, comparing the fatality risks in United States transportation across modes and over time, may be found here: http://faculty.wcas.northwestern.edu/~ipsavage/436.pdf
May 31, 2019 – from Northwestern Magazine
“To be a leader, you’ve always got to be the best team player first,” he says. “And you get to be that best team player when you have the empathy and the drive to understand other people’s perspectives.”
May 21, 2019 – from VOX, with Sergi Basco, Universitat Autònoma Barcelona
Trade in intermediates (or ‘unbundling of production') and trade in capital have become increasingly important in last 25 years. This column shows that trade in intermediates generates a reallocation of capital across countries that exacerbates world inequality in both income and welfare. Unbundling of production hurts middle-income countries but helps those with high productivity. Trade in intermediates also increases within-country inequality, and this increase is U-shaped in the aggregate productivity level of the country.
May 20, 2019 – from The New York Times
You may not like paying taxes, but your burden will be even higher if others don’t pay their fair share. That, in a nutshell, goes a long way toward explaining why a value-added tax, or VAT, is used by just about every major country in the world except the United States. Back to top