Syngjoo Choi, Raymond Fisman, Douglas M. Gale, Shachar Kariv
Because uncertainty is endemic in a wide variety of economic circumstances, models of decision making under uncertainty play a key role in every field of economics. The standard model of decisions...
and not necessarily those of the World Bank or its member countries. I am grateful to Geert (2007)
Inessa Love, Laarni Bulan, Charles Calomiris, Raymond Fisman, Ann Harrison, Charles Himmelberg, ...
This paper provides a micro-level evidence that …nancial development im-pacts growth by reducing …nancing constraints that would otherwise restrict e¢cient …rm investment. I estimate a...
2002a, Trade credit, financial intermediary development, and industry growth, forthcoming (2007)
respectively. The views expressed here are the authors ’ own and not necessarily those of the World Bank or its member countries. We thank Charles Calomiris and Stijn Claessens for helpful...
Patterns of Industrial Development Revisited: The Role of Finance * (2007)
Raymond Fisman, Inessa Love, World Bank Decrg
We re-examine the role of financial market development in the intersectoral allocation of resources. First, we characterize the assumptions underlying previous work in this area, in particular, that...
WHY HAVE WOMEN BECOME LEFT-WING? THE POLITICAL GENDER GAP AND THE DECLINE IN MARRIAGE ∗ (2007)
Lena Edlund, Rohini P, Timothy Besley, Francine Blau, Don Davis, ...
1 The last three decades have witnessed the rise of a political gender gap in the United States wherein more women than men favor the Democratic party. We trace this development to the decline in...
Consistency and Heterogeneity of Individual Behavior under Uncertainty ∗ (2007)
Syngjoo Choi, Raymond Fisman, Shachar Kariv, Jim Andreoni, Dan Ariely, Liran Einav, ...
NYU ∗ Some of the results reported here were previously distributed in a paper titled “Substantive
Substantive and Procedural Rationality in Decisions under Uncertainty (2006)
Choi, Syngjoo, Fisman, Raymond, Gale, Douglass, Kariv, Sachar
We report a laboratory experiment that enables us to study systematically the substantive and procedural rationality of decision making under uncertainty. By using novel graphical representations of...
Syngjoo Choi, Raymond Fisman, Shachar Kariv, Douglas Gale
We report a laboratory experiment that enables us to study systematically the substantive and procedural rationality of decision making under uncertainty. By using novel graphical representations of...
Gender Differences in Mate Selection: Evidence from a Speed Dating Experiment, Quarterly (2006)
Raymond Fisman, Sheena S. Iyengar, Itamar Simonson
We study dating behavior using data from a Speed Dating experiment where we generate random matching of subjects and create random variation in the number of potential partners. Our design allows us...
Distinguishing Social Preferences from Preferences for Altruism (2005)
Fisman, Raymond, Kariv, Shachar, Markovitz, Daniel
We report a laboratory experiment that enables us to distinguish preferences for altruism (concerning trade-offs between own payoffs and the payoffs of others) from social preferences (concerning...
Syngjoo Choi, Raymond Fisman, Shachar Kariv, Douglas Gale
We report a laboratory experiment that enables us to study systematically the substantive and procedural rationality of decision making under uncertainty. By using novel graphical representations of...
SEARCHING FOR A MATE: EVIDENCE FROM A SPEED DATING EXPERIMENT ∗ (2005)
Raymond Fisman, Sheena S. Iyengar, Emir Kamenica, Itamar Simonson
We study dating behavior using data from a Speed Dating experiment where we generate random matching of subjects and create random variation in the number of potential partners. Our design allows us...
Tax Rates and Tax Evasion: Evidence from ‘Missing Imports (2004)
We Jerzy, T. Rozanski, Zhi Wang, Bill Gale, Jel No. H, Raymond Fisman, ...
Hines, Nick Lardy, Sung Yung-Wing, and seminar participants at an NBER meeting, the World Bank, and University of Southern California for helpful discussion. All remaining errors that have evaded our...
1 Outsourcing Tariff Evasion: A New Explanation for Entrepôt Trade (2004)
Raymond Fisman, Peter Moustakerski, Shang-jin Wei
Traditional explanations for indirect trade through an entrepôt have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We provide an...
Are Corruption and Taxation Really Harmful to Growth? Firm-Level Evidence (2000)
Raymond Fisman, Jakob Svensson
Exploiting a unique data set containing information on the estimated bribe payments of Ugandan firms, we study the relationship between bribery payments, taxes and firm growth over the period...
Subtitle on signature p.: The role of business groups.
Financial Development and Growth in the Short and Long Run
We analyze the relationship between financial development and inter-industry resource allocation in the short- and long-run. We suggest that in the long-run, economies with high rates of financial...
Are corruption and taxation really harmful to growth? - firm-level evidence
Fisman, Raymond, Svensson, Jakob
Exploiting a unique data set containing information about the estimated bribe payments of Ugandan firms, the authors study the relationship between bribe payments, taxes, and firm growth in Uganda...
Financial Development and the Composition of Industrial Growth
We re-examine the role of financial market development in the intersectoral allocation of resources. Specifically, we propose the use of a new methodology that looks at the co-movement in growth...
Branstetter, Lee G., Fisman, Raymond, Foley, C. Fritz
One of the alleged benefits of the recent global movement to strengthen intellectual property rights (IPRs) is that such reforms accelerate transfers of technology between countries. The paper...
Financial development and growth in the short and long run
The authors analyze the relationship between financial development and inter-industry resource allocation in the short and long run. They suggest that in the long run, economies with high rates of...
Regulation of Entry and the Distortion of Industrial Organization
Raymond Fisman, Virginia Sarria-Allende
We study the distortions to industrial organization caused by entry regulation. We take advantage of heterogeneity across industries in their natural barriers and growth opportunities to examine...
Decentralization and corruption - evidence across countries
Fisman, Raymond, Gatti, Roberta
The relationship between decentralization of government activities and the extent of rent extraction by private parties is an important element in the recent debate on institutional design. The...
Outsourcing Tariff Evasion: A New Explanation for Entrepot Trade
Raymond Fisman, Peter Moustakerski, Shang-Jin Wei
Traditional explanations for indirect trade carried out through an entrepôt have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We...
Lee Branstetter, Raymond Fisman, C. Fritz Foley
This paper examines how technology transfer within U.S. multinational firms changes in response to a series of IPR reforms undertaken by 16 countries over the 1982-1999 period. Analysis of detailed...
Bargaining for Bribes: The Role of Institutions
Fisman, Raymond, Gatti, Roberta
We develop a simple bargaining framework of corruption where firms pay bribes to avoid regulation. Consistent with this setup, we find that time spent bargaining with bureaucrats and amount of bribe...
Cultures of Corruption: Evidence From Diplomatic Parking Tickets
Corruption is believed to be a major factor impeding economic development, but the importance of legal enforcement versus cultural norms in controlling corruption is poorly understood. To disentangle...
Outsourcing Tariff Evasion: A New Explanation for Entrepôt Trade
Fisman, Raymond, Moustakerski, Peter, Wei, Shang-Jin
Traditional explanations for indirect trade through an entrepôt have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We provide an...
Intellectual Property Rights, Imitation, and Foreign Direct Investment: Theory and Evidence
Lee Branstetter, Raymond Fisman, C. Fritz Foley, Kamal Saggi
This paper theoretically and empirically analyzes the effect of strengthening intellectual property rights in developing countries on the level and composition of industrial development. We develop a...
Financial Dependence and Growth Revisited
We revisit an earlier, highly influential paper on financial dependence and growth by Rajan and Zingales (1998). We re-examine their assumptions, and the robustness of their results to alternative...
Testing Limits to Policy Reversal: Evidence from Indian Privatizations
Siddhartha G. Dastidar, Raymond Fisman, Tarun Khanna
We examine the effect of regime change on privatization using the 2004 election surprise in India. The pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of...
Distinguishing Social Preferences from Preferences for Altruism
Raymond Fisman, Shachar Kariv, Daniel Markovits
We report a laboratory experiment that enables us to distinguish preferences for altruism (concerning tradeoffs between own payoffs and the payoffs of others) from social preferences (concerning...
Trade credit, financial intermediary development, and industry growth
Recent empirical work has shown that financial development is important for economic growth, since well-developed financial markets are more effective at allocating capital to firms with high-value...
Patterns of industrial development revisted : the role of finance
The authors reexamine the role of financial market development in the intersectoral allocation of resources. First, they characterize the assumptions underlying previous work in this area, in...
Decentralization and Corruption: Evidence from U.S. Federal Transfer Programs.
Fisman, Raymond, Gatti, Roberta
While some recent evidence suggests that more decentralization is associated with reduced corruption, no empirical work has examined whether different types of decentralization have differential...
Consistency, Heterogeneity, and Granularity of Individual Behavior under Uncertainty
Syngjoo Choi, Raymond Fisman, Douglas Gale, Shachar Kariv
By using graphical representations of budget sets over bundles of state-contingent commodities, we generate a very rich data set well-suited to studying behavior under uncertainty at the level of the...
Trade Credit, Financial Intermediary Development, and Industry Growth
Recent work suggests that financial development is important for economic growth, since financial markets more effectively allocate capital to firms with high value projects. For firms in poorly...
Financial Development and Intersectoral Allocation: A New Approach
This paper uses a new methodology based on industry comovement to examine the role of financial market development in intersectoral allocation. Based on the assumption that there exist common global...
Individual Preferences for Giving
Raymond Fisman, Shachar Kariv, Daniel Markovits
We utilize graphical representations of Dictator Games which generate rich individual- level data. Our baseline experiment employs budget sets over feasible payoff- pairs. We test these data for...
Consistency and Heterogeneity of Individual Behavior under Uncertainty
Syngjoo Choi, Raymond Fisman, Douglas Gale, Shachar Kariv
By using graphical representations of simple portfolio choice problems, we generate a very rich dataset to study behavior under uncertainty at the level of the individual subject. We test the data...
RAYMOND FISMAN, SHEENA S. IYENGAR, EMIR KAMENICA, ITAMAR SIMONSON
We examine racial preferences in dating. We employ a Speed Dating experiment that allows us to directly observe individual decisions and thus infer whose preferences lead to racial segregation in...
Revealing Preferences Graphically: An Old Method Gets a New Tool Kit
Syngjoo Choi, Raymond Fisman, Douglas M. Gale, Shachar Kariv
Individual Preferences for Giving
Raymond Fisman, Shachar Kariv, Daniel Markovits
This paper reports an experimental test of individual preferences for giving. We use graphical representations of modified Dictator Games that vary the price of giving. This generates a very rich...
Tax Rates and Tax Evasion: Evidence from 'Missing Imports' in China
Fisman, Raymond, Wei, Shang-Jin
Tax evasion, by its very nature, is difficult to observe. In this Paper, we present a case study of tax evasion in China. The novel feature of our approach is that at a very disaggregated level of...
Lee G Branstetter, Raymond Fisman, C. Fritz Foley
This paper examines how technology transfer within U. S. multinational firms changes in response to a series of IPR reforms undertaken by sixteen countries over the 1982-1999 period. Analysis of...
Gender Differences in Mate Selection: Evidence from a Speed Dating Experiment
Raymond Fisman, Sheena S. Iyengar, Emir Kamenica, Itamar Simonson
We study dating behavior using data from a Speed Dating experiment where we generate random matching of subjects and create random variation in the number of potential partners. Our design allows us...
Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships
Previous work has claimed that monopoly power facilitates the provision of credit, because monopolists are better able to enforce payment. Here, we argue that if relationship-specific investments are...
The Effect of Foreign Competition on Forecasting Bias
This paper studies the effect of foreign competition on the extent of forecasting bias. I focus on two biases often described in the behavioral economics literature: overoptimism and excessive belief...
Ethnic Ties and the Provision of Credit: Relationship-Level Evidence from African Firms
This paper studies the effect of ethnic ties on trade credit provision. Previous work in Africa has found that entrepreneurs of Asian and European descent are more likely to obtain credit from their...
In this paper, we study supplier–firm interactions to explain firms' outsourcing relationships. We show that in an imperfect information setup a firm learns about the quality of its suppliers...
Racial Preferences in Mate Selection: Evidence from a Speed Dating Experiment
Fisman, Raymond, Iyengar, Sheena, Kamenica, Emir, Simonson, Itamar
We utilize an experimental ‘Speed Dating’ service to examine racial preferences in mate selection. Our data allow for the direct observation of individual decisions of randomly paired...
Searching for a Mate: Theory and Experimental Evidence
Fisman, Raymond, Iyengar, Sheena, Kamenica, Emir, Simonson, Itamar
We provide a theoretical framework for studying mate search and selection based on a two-sided matching model. Guided by the model, we study dating behavior using data from an experimental dating...
Outsourcing Tariff Evasion: A New Explanation for Entrepôt Trade
Raymond Fisman, Peter Moustakerski, Shang-Jin Wei
Traditional explanations for indirect trade through an entrepôt focus on savings in transport costs and the role of specialized agents in processing and distribution. We provide an alternative...
Tax Rates and Tax Evasion: Evidence from "Missing Imports" in China
Tax evasion, by its very nature, is difficult to observe. In this paper, we present a case study of tax evasion in China. The novel feature of our approach is that at a very disaggregated level of...
Trade Credit, Financial Intermediary Development and Industry Growth
Recent work suggests that financial development is important for economic growth, since financial markets more effectively allocate capital to firms with high value projects. For firms in poorly...
Are Politicians Really Paid Like Bureaucrats?
Rafael Di Tella, Raymond Fisman
We provide the first empirical analysis of gubernatorial pay. Using US data for 1950-90 we document, contrary to widespread assumptions, substantial variation in the wages of politicians, both across...
Financial Dependence and Growth Revisited
In this note, we revisit an earlier, highly influential paper on Financial Dependence and Growth by Rajan and Zingales (1998), by re-examining their assumptions, and the robustness of their results...
Does Competition Encourage Credit Provision? Evidence from African Trade Credit Relationships
Previous work has claimed that monopoly power facilitates the provision of credit, since monopolists are better able to enforce payment. Here, we argue that if relationship-specific investments are...
Outsourcing Tariff Evasion: A New Explanation for Entrepot Trade
Raymond Fisman, Peter Moustakerski, Shang-Jin Wei
Traditional explanations for indirect trade through an entrepot have focused on savings in transport costs and on the role of specialized agents in processing and distribution. We provide an...
We empirically analyze the illicit trade in cultural property and antiques, taking advantage of different reporting incentives between source and destination countries. We thus generate a measure of...
Profiting from Government Stakes in a Command Economy: Evidence from Chinese Asset Sales
Charles Calomiris, Raymond Fisman, Yongxiang Wang
We document the market response to an unexpected announcement of proposed sales of government-owned shares in China. In contrast to the "privatization premium" found in earlier work, we find a...
Tax Rates and Tax Evasion: Evidence from "Missing Imports" in China
Tax evasion, by its very nature, is difficult to observe. We quantify the effects of tax rates on tax evasion by examining the relationship in China between the tariff schedule and the "evasion gap,"...
Are Politicians Really Paid Like Bureaucrats?
Di Tella, Rafael, Fisman, Raymond
We provide the first empirical analysis of gubernatorial pay. Using U.S. data for 1950-90, we document substantial variation in the wages of politicians, both across states and over time....
In this paper, we study supplier–firm interactions to explain firms' outsourcing relationships. We show that in an imperfect information setup a firm learns about the quality of its suppliers...
Corruption, Norms, and Legal Enforcement: Evidence from Diplomatic Parking Tickets
We study cultural norms and legal enforcement in controlling corruption by analyzing the parking behavior of United Nations officials in Manhattan. Until 2002, diplomatic immunity protected UN...
Testing limits to policy reversal: Evidence from Indian privatizations
Dastidar, Siddhartha G., Fisman, Raymond, Khanna, Tarun
We examine the effect of regime change on privatization. In the 2004 Indian election, the pro-reform BJP was unexpectedly defeated by a less reformist coalition. Stock prices of government-controlled...
We empirically analyze the illicit trade in cultural property and antiques, taking advantage of different reporting incentives between source and destination countries. We generate a measure of...