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    <dc:date>2026-04-29T17:43:23Z</dc:date>
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    <title>Adverse selection among early adopters and unraveling innovation</title>
    <link>https://hdl.handle.net/10419/286703</link>
    <description>Title: Adverse selection among early adopters and unraveling innovation
Authors: McGee, Rory
Abstract: I provide an equilibrium analysis of "selection markets": where consumers not only vary in how much they are willing to pay, but also in how much they cost to the seller. The model provides a joint explanation for three empirical phenomena: low uptake of existing products, slow demand for new products, and market inactivity despite unmet demand. I characterize when early adopters are more adversely selected in new markets. This lowers demand, increases costs, and leads markets to unravel prematurely. With endogenous market entry for new products (e.g., reverse mortgages, annuities), extended patents serve as de facto time-varying subsidies.</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/286702">
    <title>The insurance implications of government student loan repayment schemes</title>
    <link>https://hdl.handle.net/10419/286702</link>
    <description>Title: The insurance implications of government student loan repayment schemes
Authors: Gervais, Martin; Liu, Qian; Lochner, Lance</description>
    <dc:date>2023-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/286700">
    <title>The role of non-pecuniary considerations: Location decisions of college graduates from low income backgrounds</title>
    <link>https://hdl.handle.net/10419/286700</link>
    <description>Title: The role of non-pecuniary considerations: Location decisions of college graduates from low income backgrounds
Authors: Gong, Yifan; Stinebrickner, Todd R.; Stinebrickner, Ralph; Yao, Yuxi
Abstract: We examine the initial post-college geographic location decisions of students from hometowns in the Appalachian region that often lack substantial high-skilled job opportunities, focusing on the role of non-pecuniary considerations. Novel survey questions allow us to measure the full non-pecuniary benefits of each relevant geographic location, in dollar equivalents. A new specification test is designed and implemented to provide evidence about the quality of these non-pecuniary measures. Supplementing perceived location choice probabilities and expectations about pecuniary factors with our new non-pecuniary measures allows a new approach for obtaining a comprehensive understanding of the importance of pecuniary and non-pecuniary factors for location decisions. We compare this approach to alternative expectations-based approaches. We also combine the non-pecuniary measures with realized location and earnings outcomes to characterize inequality in overall welfare.</description>
    <dc:date>2022-01-01T00:00:00Z</dc:date>
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  <item rdf:about="https://hdl.handle.net/10419/286701">
    <title>A task-based theory of occupations with multidimensional heterogeneity</title>
    <link>https://hdl.handle.net/10419/286701</link>
    <description>Title: A task-based theory of occupations with multidimensional heterogeneity
Authors: Ocampo Díaz, Sergio
Abstract: I develop an assignment model of occupations with multidimensional heterogeneity in production tasks and worker skills. Tasks are distributed continuously in the skill space, whereas workers have a discrete distribution with a finite number of types. Occupations arise endogenously as bundles of tasks optimally assigned to a type of worker. The model allows us to study how occupations respond to changes in the economic environment, making it useful for analyzing the implications of automation, skill-biased technical change, offshoring, and worker training. Using the model, I characterize how wages, the marginal product of workers, the substitutability between worker types, and the labor share depend on the assignment of tasks to workers. I introduce automation as the choice of the optimal size and location of a mass of identical robots in the task space. Automation displaces workers by replacing them in the performance of tasks, generating a cascading effect on other workers as the boundaries of occupations are redrawn.</description>
    <dc:date>2022-01-01T00:00:00Z</dc:date>
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