no code implementations • 11 Apr 2024 • Nicola Borri, Denis Chetverikov, Yukun Liu, Aleh Tsyvinski
We propose a new non-linear single-factor asset pricing model $r_{it}=h(f_{t}\lambda_{i})+\epsilon_{it}$.
no code implementations • 12 Mar 2023 • Job Boerma, Aleh Tsyvinski, Ruodu Wang, Zhenyuan Zhang
We completely characterize optimal sorting and additionally show it is more positive when mismatch costs are less concave.
no code implementations • 28 Apr 2022 • Job Boerma, Aleh Tsyvinski, Alexander P. Zimin
Blunt bunching constitutes 30 percent of all bunching, occurs at the lowest regions of cognitive and manual skills, and lumps the allocations of these workers resulting in a significant distortion.
no code implementations • 14 Mar 2022 • Alexander V. Kolesnikov, Fedor Sandomirskiy, Aleh Tsyvinski, Alexander P. Zimin
We consider the problem of revenue-maximizing Bayesian auction design with several bidders having independent private values over several items.
no code implementations • 6 Mar 2022 • Denis Chetverikov, Yukun Liu, Aleh Tsyvinski
In this paper, we introduce the weighted-average quantile regression framework, $\int_0^1 q_{Y|X}(u)\psi(u)du = X'\beta$, where $Y$ is a dependent variable, $X$ is a vector of covariates, $q_{Y|X}$ is the quantile function of the conditional distribution of $Y$ given $X$, $\psi$ is a weighting function, and $\beta$ is a vector of parameters.
no code implementations • 6 Sep 2021 • Job Boerma, Aleh Tsyvinski, Alexander P. Zimin
We fully solve a sorting problem with heterogeneous firms and multiple heterogeneous workers whose skills are imperfect substitutes.
no code implementations • 20 Apr 2021 • Georgii Riabov, Aleh Tsyvinski
Second, we characterize in closed form the dynamics of the stochastic hysteresis elasticity that represents the change in the whole optimal policy process with an introduction of small hysteresis effects.