Olin Business School
Washington University in St. Louis
Campus Box 1133
One Brookings Dr.
St. Louis, MO 63130
Information about this author at RePEc
NBER Working Papers and Publications
|September 2018||The Right Stuff? Personality and Entrepreneurship|
with Nicholas W. Papageorge, Nidhi Pande: w25006
We construct a structural model of entry into self-employment to evaluate the impact of policies supporting entrepreneurship. Previous work has recognized that workers may opt for self-employment due to the non-pecuniary benefits of running a business and not necessarily because they are good at it. Other literature has examined how socio-emotional skills, such as personality traits, affect selection into self-employment. We link these two lines of inquiry. The model we estimate captures three factors that affect selection into self-employment: credit constraints, relative earnings and preferences. We incorporate personality traits by allowing them to affect sector-specific earnings as well as preferences. The estimated model reveals that the personality traits that make entrepreneurship p...
|May 2018||Innovation and Diffusion of Medical Treatment|
with Andrés Hincapié, Robert A. Miller, Nicholas W. Papageorge: w24577
This paper develops and estimates a dynamic structural model of demand for a multi-attribute product. The demand side equilibrium supports a product spectrum, the characteristics of which evolve over time in response to supply innovations induced by the composition and extent of aggregate demand. The direction and speed of innovation is inefficient because individuals create an externality by not accounting for their influence on the discovery process. We apply the model to drugs invented to combat the HIV epidemic, during which frequent, incremental innovations in medication were punctuated by sporadic breakthroughs. In this application products differ in their efficacy and their propensity to cause side effects. Our biennial data on four American cities track a replenished panel of indiv...
|December 2016||Health, Human Capital and Domestic Violence|
with Nicholas W. Papageorge, Gwyn C. Pauley, Mardge Cohen, Tracey E. Wilson, Robert A. Pollak: w22887
We study the impact of health shocks on domestic violence and illicit drug use. We argue that health is a form of human capital that shifts incentives for risky behaviors, such as drug use, and also changes options outside of violent relationships. To estimate causal effects, we examine chronically ill women before and after a medical breakthrough and exploit differences in these women's health prior to the breakthrough. We show evidence that health improvements induced by the breakthrough reduced domestic violence and illicit drug use. Our findings provide support for the idea that health improvements can have far-reaching implications for costly social problems. The policy relevance of our findings is compounded by the fact that both domestic violence and illicit drug use are social prob...