@vueling why do I pay more for a 15kg suitcase when booking a flight when it's cheaper to pay today for the same flight? Just got off the phone with your "customer service" and apparently they can't upgrade my suitcase. Makes no sense.
A potential interpretation of our results would suggest expanding for certain government assistance programs may produce unintended consequences for the newly eligible.
Excited to share my new publication with Alexander Browna & @marcopalmalmv
Social-benefits stigma and subsequent competitiveness: https://t.co/hGDBIiSVgc
expanding benefit eligibility to a middle-status group. When newly-eligible individuals qualify for the benefit, their rate of entry into a subsequent and unrelated tournament is reduced by 17–20 percentage points compared to the treatment in which they do not qualify.
Our @ubeconomics Econ Theory section is hiring an assistant professor in Micro! Check out our ad at https://t.co/KLcb935uf3 and consider applying. Here's a thread on why 👇
We are excited to share that next Friday we will be hosting the 3rd Microeconomics Workshop @ubeconomics. This year we will have a keynote by @TomValletti and other great speakers and discussants! Check full program and register here https://t.co/Uv9ynSNyAz
🚀 Sneak peek of my upcoming solo paper! The housing market is on everyone's mind these days. I study how homeowners form and update their short-term house price expectations. 🏠📈
🔍 Policy Context: At the year's start, the market expected around 6 Fed rate cuts, triggering buyer's market predictions from major realtors. The idea was that monetary loosening would boost housing supply as homeowners will be more inclined to let go of their pandemic-era mortgage rates. People move often and prefer settling with good mortgage rates.
🔮 On the flip side, some analysts predicted sticky inflation and only 2 or no rate cuts by the end of 2024. 📊 Which promised seller's market.
🔬 Study Steps:
In the Main Study, I exposed homeowners to either optimistic or pessimistic predictions and measured their house price belief updates for their zip codes.
By the Fed's March meeting, it became clear we'd have higher rates for longer. My third study measured house price expectations after actual market moves.
💡 Findings:
Homeowners overreact to predictions with respect to Bayesian benchmark! Not surprising given the stakes—homes are a big part of household wealth. 💰
More prior belief uncertainty leads to more optimism. If you're confused about the market, optimism keeps the vibe high. 🌟
But homeowner optimism is costly. A 10% increase in high house price expectations reduces willingness to sell by around 3%. Why sell now if a better return is possible later? 📉
Homeowners with lower property values and in zip codes with lower recent price growth are more optimistic. Which can be explained by motivated reasoning. 🏡✨
Finally, Republican homeowners were more likely to follow the Fed's March meeting. Partisanship is an important factor in economic expectations (see my inflation expectations paper!).
Stay tuned for the first draft in a couple of weeks!
It”s a wrap for the first @ESADE Workshop on Behavioral and Experimental Economics (#EWBEE).A day of spectacular keynotes by Ernst Fehr, Jose Apesteguia and @JordiBrandts and state of the art presentations by 8 selected speakers. Thanks and more to come! https://t.co/n6o8Exkwwq
RIP my friend. You always had such a big heart and your willingness to help anyone was unwavering.
We will miss your candid humor, your scientific sharpness, and your big heart @GaryCharness.
Join us in celebrating the contribution of women in science and let's work towards a more inclusive scientific community! 🌐♀️
Happy #WomenInScienceDay#11F to our inspiring researchers who continue to break barriers and inspire change. 🚀✨ Today and every day #WomenInScience
📢Call for Applications: Juan de la Cierva postdoctoral fellowship sponsorship at Economic Theory section Universitat de Barcelona https://t.co/KD635AMw0W @ubeconomics@BEAT_Institute@ubfacecoiempres
Our @ubeconomics Econ Theory section is hiring a postdoc in Micro! Check out our ad at https://t.co/fo0IUPrpnu and consider applying. Here's a thread on why 👇
Bumping this paper before the new academic year--> ChatGPT and the Labor Market: Unraveling the Effect of AI Discussions on Students' Earnings Expectations https://t.co/xBvRE07FrE
Congratulations to all 2023 AAEA Fellows! We are thrilled to see that women make up 50% of the fellows, for the first time ever. @SustainablElena, @DawnTM, and Holly Wang, your contributions to the field are invaluable and we are grateful for your leadership!
We are pleased to announce that our @ageconomics MS and PhD programs are now #STEM-designated. This change will help our students in many ways, e.g., by increasing their chances of getting an industry job and receiving a higher salary. #EconTwitter#STEMeducation