Applied Economics

DEPARTMENT INFO

For more information, contact: ae-program@wharton.upenn.edu

Faculty Perspective

Kent Smetters

Boettner Professor; Professor of Insurance and Risk Management

While our program aims to produce the best applied researchers, we also demand that our students have strong theoretical foundations. Our students get tooled up on all the cutting-edge techniques.

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Faculty and Research

Faculty and student research is concentrated in several broad areas: industrial organization and regulation, urban economics and real estate, finance, international industrial development, and political economy.

Representative Publications

In the second year of study, students begin preparing an original research paper. This research can cut across several departments and research centers within Penn.

Names in bold type indicate authors who were Wharton doctoral students at the time of publication.

Santosh Anagol and Hoikwang Kim, "The Impact of Shrouded Fees: Evidence from a Natural Experiment in the Indian Mutual Funds Market,” forthcoming, American Economic Review.

Betsey Stevenson and Justin Wolfers, “Trends in Marital Stability”, forthcoming, Research Handbook in the Law and Economics of the Family.

Justin Wolfers and Betsey Stevenson, “Trust in Public Institutions over the Business Cycle,” American Economic Review Papers and Proceedings, May 2011

Justin Wolfers and Erik Snowberg, “Explaining the Favorite-Longshot Bias: Is it Risk-Love, or Misperceptions?” Journal of Political Economy, August 2010

Gerald Faulhaber and D.J. Farber, “Innovation in the Wireless Ecosystem: A Customer-Centric Framework”, International Journal of Communication, University of Southern California Law School, 4, 2010, 1-41.

Gerald Faulhaber, “A Broadband National Plan for Our Future: A Customer-Centric Framework,” International Journal of Communication, University of Southern California Law School, 3, 2009, 742-780.

Gerald Faulhaber and D.J. Farber, “The Open Internet: A Customer-Centric Framework,” International Journal of Communication University of Southern California Law School 4 (2010), 302-342

Jean Lemaire, “The Cost of Firearm Deaths in the United States: Reduced Life Expectancies and Increased Insurance Costs”, Journal of Risk and Insurance, 72, 2005, 359-374

Jean Lemaire, S. Park and C-T. Chua, “Is the Design of Bonus-Malus Systems Influenced by Insurance Maturity or National Culture – Evidence from Asia”, Geneva Papers on Risk and Insurance: Issues and Practice, 2010, 35, S7-S27

Guy David and Tanguy Brachet, “On the Determinants of Organizational Forgetting.” American Economic Journal – Microeconomics, August 2011, Vol. 3(3).

Guy David and Mark Neuman, “Physician Division of Labor and Patient Selection for Outpatient Procedures.” Journal of Health Economics. March 2011, Vol. 30(2), pp. 381-391.

Guy David, Sara Markowitz and Seth Richards-Shubik, “The Effects of Pharmaceutical Marketing and Promotion on Adverse Drug Events and Regulation.” American Economic Journal – Economic Policy, November 2010, Vol. 2(4), pp. 1-25.

Janet Rothenberg Pack, “Reinventing Older Communities: Does Place Matter,” Ch. 9 of Neighborhood and Life Chances: How Place Matters in Modern America, eds., Harriet Newburger, Eugenie L. Birch and Susan M. Wachter, University of Pennsylvania Press, 2011.

Grace Wong Bucchianeri and Julia A. Minson, “Listing Behaviors and Housing Market Outcomes” forthcoming

Betsey Stevenson, “Beyond the Classroom: Using Title IX to Measure the Return to High School Sports,” Review of Economics and Statistics, May 2010, 92 (2): 284-301.

Daniel Sacks, Betsey Stevenson, and Justin Wolfers “Subjective Well-Being, Income, Economic Development and Growth” Development Challenges in a Post-Crisis World, World Bank, Washington
D.C., 2011

Elena Krasnokutskaya and Katja Seim. “Bid Preference Programs and Participation in Highway Procurement,” forthcoming, American Economic Review, 2010.

Katja Seim and V. Brian Viard. “The Effect of Market Structure on Cellular Technology Adoption and Pricing,” American Economic Journal: Microeconomics 3(2), 2011.

Anja Lambrecht, Katja Seim, and Catherine Tucker. “Stuck in the Adoption Funnel: The Effect of Delays in the Adoption Process on Ultimate Adoption,” Marketing Science 30(2), 2011.

Joelle H.Y. Fong, Olivia S. Mitchell, and Benedict S. K. Koh. “Longevity Risk Management in Singapore’s National Pension System”, forthcoming, Journal of Risk and Insurance

Olivia S. Mitchell and Jose Ruiz. “Pension Payments in Chile: Past, Present, and Future Prospects.” In Olivia S. Mitchell, John Piggott, and Noriyuke Takayama, eds. Revisiting Retirement Payouts: Market Developments and Policy Issues. Oxford: OUP. Forthcoming.

Ning Tang, Olivia S. Mitchell, Gary Mottola, and Steve Utkus. “The Efficiency of Sponsor and Participant Portfolio Choices in 401(k) Plans.” Journal of Public Economics. 2010.

Joelle H.Y. Fong, Olivia S. Mitchell, and Benedict Koh. “Longevity Risk and Annuities in Singapore.” In Robert Clark and Olivia S. Mitchell, eds. Reorienting Retirement Risk Management. Oxford University Press: 156-178.

Benedict S. Koh, Olivia S. Mitchell and Joelle HY. Fong, “Collective Investments for Pension Saving: Lessons from Singapore’s Central Provident Fund Scheme.” Pensions: An International Journal. (15:2): 100-110. 2010

Edward L. Glaerser and Joseph Gyourko, “Urban Decline and Durable Housing”, Journal of Political Economy, 2005

Fernando Ferreira and Joseph Gyourko, “Do Political Parties Matter? Evidence from U.S. Cities?,” The Quarterly Journal of Economics, February 2009

Edward L. Glaser, Joseph Gyourko and Albert Saiz, “Housing supply and housing bubbles”, Journal of Urban Economics, 2008

Alexander Gelber, "How do 401(k)s Affect Saving? Evidence from Changes in 401(k) Eligibility," forthcoming, American Economic Journal

Fernando Ferreira, Jesse Rothsein and Stephanie Cellini, “The Value of School Facility Investments: Evidence from a Dynamic Regression Discontinuity Design”, The Quarterly Journal of Economics,
February 2010, vol. 125(1), p. 215-261.

Fernando Ferreira, “You Can Take It with You: Proposition 13 Tax Benefits, Residential Mobility, and Willingness to Pay for Housing Amenities.” Journal of Public Economics, vol. 94 (2010), p. 661-673.

Fernando FerreiraJoseph Gyourko and Joseph Tracy, “Housing Busts and Household Mobility”, Journal of Urban Economics, vol. 68(1), 2010, p. 34-45.

Laure Cabantous, Denis Hilton, Howard Kunreuther, Erwann Michel-Kerjan, “Is Imprecise Knowledge Better than Conflicting Expertise? Evidence from Insurers’ Decisions in the United States”, Journal of Risk and Uncertainty, Volume 42, Number 3, 211-232, March 2011

Dwight Jaffee, Howard Kunreuther, and Erwann Michel-Kerjan, “Long-Term Property Insurance”, Journal of Insurance Regulation, 2010 Issue, Vol. 29, No. 07, pp. 167-187. July 2010

Howard C. Kunreuther and Erwann O. Michel-Kerjan, “Market and Government Failure in Insuring and Mitigating Natural Catastrophes: How Long-Term Contracts Can Help”, Public Insurance and Private Markets, Jeffrey R, Brown, (ed.), AEI Press, May 2010

Howard Pack, “Industrial Policy in Historical Perspective”, American Economic Association Meetings, 2010

Howard Pack and Yuh Yau (Daivd) Lin, “The Impact of Industrial Policy on Asian Growth: An Example from Taiwan”, Oxford Handbook of the Economics of the Pacific Rim, forthcoming

Howard Pack, “DPR Debate: Growth Identification and Facilitation”, Development Policy Review, 2011