サクサク読めて、アプリ限定の機能も多数!
トップへ戻る
大谷翔平
papers.ssrn.com
Yale SOM; AQR Capital Management, LLC; National Bureau of Economic Research (NBER)
Abstract We examine the potential of ChatGPT and other large language models (LLMs) to predict stock market returns using news headlines. ChatGPT scores significantly predict subsequent daily stock returns, outperforming traditional methods. A model involving information capacity constraints, limits to arbitrage, and LLMs rationalizes this predictability, which strengthens among smaller stocks and
Abstract Through its "comfort women" framework, the World War II Japanese military extended its licensing regime for domestic prostitution to the brothels next to its overseas bases. That regime imposed strenuous health standards, which the military needed to control the venereal disease that had debilitated its troops in earlier wars. These "comfort stations" recruited their prostitutes (we limit
Abstract Web3 today centers around expressing transferable, financialized assets, rather than encoding social relationships of trust. Yet many core economic activities—such as uncollateralized lending and building personal brands—are built on persistent, non-transferable relationships. In this paper, we illustrate how non-transferable “soulbound” tokens (SBTs) representing the commitments, credent
Abstract In “Contracting for Sex in the Pacific War,” International Review of Law & Economics (IRLE) (2020), I explored the economic logic behind the contracts made by Japanese and Korean prostitutes with the brothels at which they worked. Among the terms of the contracts that I tried to explain were the way in which they coupled a large initial payment with a maximum period of service. I sought t
Using these links will ensure access to this page indefinitely Preprints with The Lancet is part of SSRN´s First Look, a place where journals identify content of interest prior to publication. Authors have opted in at submission to The Lancet family of journals to post their preprints on Preprints with The Lancet. The usual SSRN checks and a Lancet-specific check for appropriateness and transparen
Abstract Since 1977, U.S. states have passed laws steadily raising the age for which a child must ride in a car safety seat. These laws significantly raise the cost of having a third child, as many regular-sized cars cannot fit three child seats in the back. Using census data and state-year variation in laws, we estimate that when women have two children of ages requiring mandated car seats, they
Using these links will ensure access to this page indefinitely
Abstract We study the impact of non-pharmaceutical interventions (NPIs) on mortality and economic activity across U.S. cities during the 1918 Flu Pandemic. The combination of fast and stringent NPIs reduced peak mortality by 50% and cumulative excess mortality by 24% to 34%. However, while the pandemic itself was associated with short-run economic disruptions, we find that these disruptions were s
Abstract We aim to assess the impact of temperature and relative humidity on the transmission of COVID-19 across communities after accounting for community-level factors such as demographics, socioeconomic status, and human mobility status. A retrospective cross-sectional regression analysis via the Fama-MacBeth procedure is adopted. We use the data for COVID-19 daily symptom-onset cases for 100 C
Abstract The causal effect of showing an ad to a potential customer versus not, commonly referred to as “incrementality,” is the fundamental question of advertising effectiveness. In digital advertising three major puzzle pieces are central to rigorously quantifying advertising incrementality: ad buying/bidding/pricing, attribution, and experimentation. Building on the foundations of machine learn
Abstract This paper investigates whether Tether, a digital currency pegged to the U.S. dollar, influenced Bitcoin and other cryptocurrency prices during the 2017 boom. Using algorithms to analyze blockchain data, we find that purchases with Tether are timed following market downturns and result in sizable increases in Bitcoin prices. The flow is attributable to one entity, clusters below round pri
Abstract If free lending in public libraries is displacing sales in bookstores, some compensation may be needed to maintain incentives for authors to create new works. To determine whether this is indeed the case, we created a novel dataset that integrated bookstore sales data with public library copy data in Japan and quantified the displacement effects of public libraries. Controls for title-mun
Abstract This paper discusses the potential and limitations of Bitcoin as a digital currency. Bitcoin as a digital asset has been extensively discussed from the viewpoints of engineering and security design. But there are few economic analyses of Bitcoin as a currency. Bitcoin was designed as a payments vehicle and as a store of value (or speculation). It has no use bar as money or currency. Despi
Abstract Talk of artificial intelligence is everywhere. People marvel at the capacity of machines to translate any language and master any game. Others condemn the use of secret algorithms to sentence criminal defendants or recoil at the prospect of machines gunning for blue, pink, and white-collar jobs. Some worry aloud that artificial intelligence will be humankind’s “final invention.” This essa
How Does Early Childcare Enrollment Affect Children, Parents, and Their Interactions?
Abstract We estimate the causal effects of childcare availability on the maternal employment rate using prefecture panel data constructed from the Japanese quinquennial census 1990-2010. We depart from previous papers on Japan by controlling for prefecture fixed effects, without which the estimates can be severely biased upward. Contrary to popular belief, childcare availability is uncorrelated wi
Simon Fraser University (SFU); University of Tokyo - University of Tokyo, Graduate School of Public Policy; IZA Institute of Labor Economics; National Bureau of Economic Research (NBER)
Abstract How Copyright Law Could Make or Break the Future for Digital Humanities. This case raises many legal, technical, and epistemological issues related to the future of higher education, research, and scholarship – especially those efforts that seek to take advantage of “big data” analytics and methodologies. Advances in computer technology and the availability of digital texts will allow sch
Abstract Consumer choices not only reflect price and quality preferences but also social and moral values as witnessed in the remarkable growth of the global market for organic and environmentally friendly products. Building on recent research on behavioral priming and moral regulation, we find that mere exposure to green products and the purchase of them lead to markedly different behavioral cons
University of California, Berkeley - School of Law; University of California, Berkeley - School of Information Abstract This is a pilot study of the use of 'Flash cookies' by popular websites. We find that more than 50% of the sites in our sample are using flash cookies to store information about the user. Some are using it to 'respawn' or re-instantiate HTTP cookies deleted by the user. Flash coo
Abstract This paper examines the effect of recommender systems on the diversity of sales. Two anecdotal views exist about such effects. Some believe recommenders help consumers discover new products and thus increase sales diversity. Others believe recommenders only reinforce the popularity of already popular products. This paper seeks to reconcile these seemingly incompatible views. We explore th
Abstract This article explores three new concepts in property law. First, the article defines an emerging property form - virtual property - which is not intellectual property, but that more efficiently governs rivalrous, persistent, and interconnected online resources. Second, the article demonstrates that the threat to high-value uses of internet resources is not the traditional tragedy of the c
Abstract The idea of libertarian paternalism might seem to be an oxymoron, but it is both possible and legitimate for private and public institutions to affect behavior while also respecting freedom of choice. Often people's preferences are ill-formed, and their choices will inevitably be influenced by default rules, framing effects, and starting points. In these circumstances, a form of paternali
Abstract Insider trading is one of the most controversial aspects of securities regulation, even among the law and economics community. One set of scholars favors deregulation of insider trading, allowing corporations to set their own insider trading policies by contract. Another set of law and economics scholars, in contrast, contends that the property right to inside information should be assign
Abstract Every decision made by the designers of a virtual world game is a political decision. Every debate over the rules and every change to the software is political. When players talk about the rules, they are practicing politics. Once you know to look for virtual politics, they're everywhere. Designers are the governments of these virtual worlds. Like real governments, they make the laws unde
このページを最初にブックマークしてみませんか?
『papers.ssrn.com』の新着エントリーを見る
j次のブックマーク
k前のブックマーク
lあとで読む
eコメント一覧を開く
oページを開く