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��ࡱ�>�� z\����y��������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������������u �r�|bjbj�n�n2,��a��an �������""������������8�4-�bmlaaaaauuu�l�l�l�l�l�l�l$�n��qfm�uuuuum��aa4m   u��a�a�l u�l   a������@�������c �l2m0bm �qsf r  �/�q�q$��i�uu uuuuumm�tuuubmuuuu�������������������������������������������������������������������� ruuuuuuuuu"q s: journal of political economy volume 129, issue 11, november 2021 1. title: market structure and competition in airline markets authors: ciliberto, federico; murry, charles; tamer, elie. abstract: we provide an econometric framework for estimating a game of simultaneous entry and pricing decisions while allowing for correlations between unobserved cost and demand shocks. we use our framework to account for selection in the pricing stage. we estimate the model using data from the us airline industry and find that not accounting for endogenous entry leads to biased estimation of demand elasticities. we simulate a merger between american and us airways and find that product repositioning and postmerger outcomes depend on how we model the characteristics of the merged firm as a function of the premerger firms' characteristics. 2. title: directed technical change as a response to natural resource scarcity authors: hassler, john; krusell, per; olovsson, conny. abstract: we develop a quantitative macroeconomic theory of input-saving technical change to analyze how markets economize on scarce natural resources, with an application to fossil fuel. we find that aggregate us data call for a very low short-run substitution elasticity between energy and the capital/labor inputs. our estimates imply that energy-saving technical change took off when the oil shocks hit in the 1970s. this response implies significant substitutability with the other inputs in the long run: even under ever-rising energy prices, long-run consumption growth is still possible, along with a modest factor share of energy. 3. title: the power of referential advice authors: callander, steven; lambert, nicolas s.; matouschek, niko. abstract: expert advice often extends beyond a simple recommendation, including information about alternative options. to explore the role of this referential advice, we enrich the expert's informational advantage in a canonical model of communication with hard information. we show that when constructed just right, referential advice dissuades the decision maker from choosing options other than the recommendation, thereby making the recommendation itself more persuasive. we identify an equilibrium in which, with probability 1, the expert is strictly better off providing referential advice than she is in any equilibrium in which she provides a recommendation alone. 4. title: optimal income taxation: mirrlees meets ramsey authors: heathcote, jonathan; tsujiyama, hitoshi. abstract: we explore the optimal shape of the income tax and transfer schedule in an environment with distinct roles for public and private insurance. in a calibration to the united states, we find that the optimal system features marginal tax rates that increase in income. when we increase pressure on the government to raise revenue, the optimal marginal tax schedule becomes first flatter and then u-shaped, reconciling various findings in the literature. a power function parametric tax schedule outperforms an affine one, indicating that tax progressivity is more important than lump-sum transfers. we also explore various social welfare objectives and pareto-improving reforms. 5. title: comparison of decisions under unknown experiments authors: caplin, andrew; martin, daniel. abstract: we take the perspective of an econometrician who wants to determine which of two experiments provides higher expected utility but only knows the decisions under each experiment. to compare these decisions, the econometrician must make inferences about what the experiment might have been for each set of decisions. we provide a necessary and sufficient condition that identifies when every experiment consistent with one set of decisions has a higher value of information than every experiment consistent with the other set of decisions. 6. title: coalition formation in legislative bargaining authors: battaglini, marco. abstract: we propose a new model of legislative bargaining in which coalitions may have different values, reflecting the fact that the policies they can pursue are constrained by the identity of the coalition members. as the delay between offers goes to zero, the equilibrium allocation of the model converges to a generalized version of a nash bargaining solution in which�in contrast to the standard solution�the winning coalition is endogenous and determined by the relative coalitional values. a form of the holdup problem specific to these bargaining games contributes to generate significant inefficiencies in the selection of the coalition. the model helps rationalize well-known empirical facts that are in conflict with the predictions of standard noncooperative models of bargaining.     $'/0123;>@abdm���ʻʻ�ʻ��{g_rd6h��h��5�ojqj^jh�"�hu<�5�ojqj^jh�ud5�ojqj^jo(h�"�h�"�o(&h�"�h�"�5�cjojqj^jajo(hm8x5�cjojqj^jajh 2e5�cjojqj^jaj h��5�cjojqj^jajo( h��5�cjojqj^jajo(h��5�cjojqj^jaj#h�"�h�"�5�cjojqj^jaj h$-�5�cjojqj^jajo(#h��h��5�cjojqj^jajabc��d e � � klv�z[��st����������������������������gd�psgd)w�gd$?�gd�l$gd%j,gd��gdu<�gd�"�$a$gdt4��������# c d e f h n o � � � � � � � 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