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In a representative system of government, policy outcomes are affected by the political preferences and the beliefs of the voters. The media play a key role in shaping these preferences and beliefs....
It is well known that non-random attrition can lead to bias in estimating treatmenteffects from a social experiment that is based on random assignment. If the randomized intervention suffers from non-...
An economy populated by a representative agent with power utility predicts an equity premium which is far below the realized equity premium in postwar data, at least for “reasonable parameters” for ...
Which source of information contains greater bias and slant—text written by an expert or that constructed via collective intelligence? Do the costs of acquiring, storing, displaying and revising infor...
We show that independently repeated cross-sectional data can reduce the asymptotic bias when instruments are weakly correlated to the endogenous variables. When both N and T go to infinite, we can obt...
Theory suggests that, in the presence of local bias, the price of a stock should be decreasing in the ratio of the aggregate book value of firms in its region to the aggregate risk tolerance of invest...
An efficient conditioning technique, the so-called Brownian Bridge simulation, has previously been applied to eliminate pricing bias that arises in applications of the standard discrete-time Monte C...

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