Paula + Josh
@OnuWeiss
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We do Econ separately and most other things together. Paula Onuchic - Joshua Weiss -
Joined July 2019
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Friends and I wrote a new short paper (with roughly the same number of pages and coauthors). We formalize a link between statistical discrimination and statistical informativeness using Blackwell's Theorem.
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Two of us became one. In real life as it is on twitter.
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whaaaaaa!!!
Forthcoming in the AER: "Signaling and Discrimination in Collaborative Projects" by Paula Onuchic and Debraj Ray.
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It's crazy to think that my officemate invented the envelope theorem. Seems useful.
I prove an envelope theorem with a converse: the envelope formula is 𝑒𝑞𝑢𝑖𝑣𝑎𝑙𝑒𝑛𝑡 to a first-order condition. Like Milgrom and Segal's (2002) envelope theorem, my result requires no structure on the choice set. I apply it to mechanism design
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🤓
Paula Onuchic is a microeconomic theorist who works on information economics, especially questions of career concerns in teams and discrimination. Learn more at
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I need to rethink my abstract writing...
A seller bargains bilaterally with several buyers. If there are 4 buyers with values 20,9,8,5 and the seller offers 4 units, her profit is (20+9+8+5)/2=21. What if she supplies 3 units? Answer 23 (not 20/2+2*5=20!) via a SEQUENTIAL outside option principle
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I learned *so much* working on this. Fun times!
A sender designs a monotone partitional signal to inform a receiver about an object's quality. We characterize the optimal signals and their relation to precise notions of optimism/pessimism of the receiver's prior, relative to the sender's.
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Yum!
Theoretical Economics Volume 18, Issue 4 (November 2023) is now online
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In these dire times, we must come up with creative solutions. I, for one, am choreographing a TikTok dance to explain my job market paper.
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I'm not on his committee, but I can't resist promoting Philipp. A great economist with an interesting and important job market paper. And he gave an impressive mock job talk that made me reflect on my presentation style. Interview him and fly him out!
Meet our JMC
@PhilippHochmuth
. He is a macroeconomist interested in household heterogeneity and labor supply. In his job market paper, he uncovers a striking new fact: the work hours of entrepreneurs have declined substantially more than those of workers! 1/4
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Excited to present my new paper with
@joaoramosecon
!
Bilkent Economics Seminar:
“Disclosure and Incentives in Teams”
by
Paula Onuchic (Oxford)
10th May 2023, 15:30
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Foi muito legal conhecer a
@laukarpuska
e gravar esse podcast. Também é bom como evidência de que eu sei falar português (?).
Podcast das economistAs está de volta!
@laukarpuska
falou com a Paula Onuchic sobre teoria econômica e sua trajetória neste ambiente mais masculino mesmo para a economia.
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🤓
Krusell-Thuerwaechter-Weiss (
@OnuWeiss
) document that investment by young firms is more sensitive to interest rate shocks & rationalize this through a life-cycle model with fixed adj costs.
👉Mon. policy will be less potent in economy with older firms.
🔗
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Thank you to Ludvig and Denis (who won't admit to being on Twitter but will surely be aware of this tweet within a few hours) for organizing this now-traditional conference ().
Fun times
@JanKnoepfle
@adikuva
@DGoncalvesDS
.
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Very proud of
@ClaireThurwacht
and
@MKondziella
for their great job market outcomes! Although their tweets mentioning only half of us sort of violate the point of this joint account as a pooling device.
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There have been a lot of new contributions to the literature on theories of discrimination. See a survey I wrote recently, here: . And please email me to point out any glaring omissions!
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Yay, new paper!
As a celebration, I will write a TT (tiny thread)
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Whew! Really tired after spending the last couple days fabricating Biden ballots and driving them all the way to Philly. On the upside, we ate some yummy cheesesteaks yesterday.
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We visited the office today. Felt like visiting Pompeii: seeing a snapshot of where everyone's lives were when disaster hit.
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I'm not one to start a business, but shouldn't there be a version of Zoom with a whiteboard or something like Overleaf built in?
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Big problem with the vaccination logistics in NYC: closest Krispy Kreme is a 40 min walk away....
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Just started a new job at the fed and learned the tech security procedures. I have a newfound appreciation for why certain high-level govt officials might prefer to use personal email...
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What is the number of economists I should follow on twitter if I want to balance the feelings of "yea, economics really IS cool" and "man, I really shouldn't be on twitter, everyone is so productive"?
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Referee reports should just be "Here's the best argument for publishing this paper" and "Here's the best argument for rejecting this paper". The editor decides which argument is stronger or more appealing.
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@SorryToBeKurt
@PorzioTommaso
@manysheva_k
@Ale_M_Peter
@melaniemorten
@daniela_vidart
It’s hard to trust his empirical work after such an obvious coding error.
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If I applied to your institution, tailored jmp available upon request.
You should write a different job market paper for each application. It’s not a “jobs market paper.”
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The hell? I’m supposed to start my day without the crossword now? Ugh, can’t trust large corporations…
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Does anyone know the philosophy of the loud motorcyclists? I want to hear them out before condemning them to eternal damnation.
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Read this a couple weeks ago and I’ve already shared this “fun pandemic history fact” with many people offline. Here it goes for the online people as well.
Fun pandemic history fact for NY apartment dwellers frustrated by aggressive radiator heat in the winter. The era when steam heat in buildings was new/popular overlapped w/Spanish Flu pandemic, when authorities told everyone to leave their windows open for ventilation. So.... 1/4
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My colleague Ludvig Sinander and this AI tool wrote the same paper around the same time. AI’s version is retweeted, Ludvig’s version here: .
Should the editor suggest they merge papers?
The fourth paper in
@ArtEconJournal
introduces the concept of active pessimism & active optimism, emphasizing the role of proactive actions in shaping outcomes. This fresh perspective redefines how we understand responses to economic challenges.
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Still life: Debraj and I and a supermodular g function in 2020.
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@fqroldan
@wwwojtekk
@economeager
@ben_golub
Still do. Made that one day on the job market when I finally hit compile a little stressful though...
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@johnjhorton
@BenSManning
@yudapearl
Holding fixed bandaid, increasing vaccine must mean decreasing blood disease, which adds to the positive effect on health (making vaccines look better). Holding fixed vaccine, increasing bandaid must mean increasing blood disease, so bandaids look bad for health. No?
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@albertobisin
@ojblanchard1
Seems like people closer to medicine have concerns about hurting the reputation of vaccines beyond the current pandemic.
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@MilenaAlmagro
,
@tomasdiino
, step up your game! Other people are also drawing cool maps of Amsterdam.
Stunning map shows every single building in the Netherlands, shaded by year of construction. (Mine's from the 1910s.)
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When you figure out a much better way to structure your paper, are you pumped because the paper will improve or depressed because now you have to do the restructuring? Ughh, version 39, here I come!
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Me: Proud that I remember all (most?) of my to-do's without having a planner of any kind.
Also me: Unrelatedly, can't sleep, worried that I'll forget some to-do.
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@albertobisin
@J_Meanwell
@cmatthes_econ
@jchtecon
@RoineVestman
I thought the typos were the best part. Forced you to really understand the material and figure out what it should be.
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@SNageebAli
@4misceldah
Life would be very different if google had fed me this one instead on that fateful day.
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@harry_toulouse
ahem, you have to actually fill out the tailored jmp request form. and print it on paper with official northwestern heading. and get a stamp from my advisor and yours.
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To my referees: don't bother gathering your thoughts re my paper. I hereby claim it's a good paper (as widely reported) and should be accepted for publication at any top-5 journal.
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@SNageebAli
@4misceldah
Hehe this is the one that came to mind for me. I first encountered this paper in undergrad after googling something like “simple model econ.” Is that how one becomes a theorist?
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And more: are bacon and cigarettes cancer complements or cancer substitutes?
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@mfariacastro
@sarapfmoreira
Ugh, now I feel like I need to qualify this tweet to say that I (Paula, Brasilian) wrote it, so that the world doesn't think that Josh is one of those Americans...
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@ElliotLip
Well, now that I'm at Oxford, this is not such a pressing issue anymore. Rain all day, all the time, always at risk.
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@MilenaAlmagro
@arpitrage
yikes, unmasked in Washington Square! If he was an NYU student, he would be getting sent back home right about now.
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We are excited about the potential of applying well-known results in information economics to traditional models of discrimination, such as the Phelps-Aigner-Cain theory of statistical discrimination.
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How many more anxiety-ridden days due to "tomorrow I will do work-related activity X for the first time" do I have to endure before I reach eternal glory?
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@GusMicrotoMacro
@SorryToBeKurt
Yes. They tried to send you the invitation, but since you don't have a personnummer, they couldn't find your address.
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@akbarpour_
@albertobisin
Nikhil Vellodi (sadly not on twitter) and I characterize the optimal vaccine prioritization scheme in an equilibrium model with endogenous contact responses:
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It looked like a The Economist plot, but I cant find it there either -- mind you, I'm probably not searching effectively, so I still believe it's a The Economist plot.
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The guy really wants to go into technohouse...
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@prof_cookson
The same thing happened to me the other day even though the file was actually more like 2.7 megabytes. Maybe it just gets to the first number above 2 and then stops counting.
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Does this mean I should quit bacon or start smoking?
@dutchscientist
@OxfordMedic
@kim_sasso
Bacon is a class one carcinogen.
In the same class as smoking and asbestos.
(World Health Organisation and Cancer Research UK)
#CancerAwareness
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@MortenORavn
He said the same thing in Stockholm, but complimenting Swedish strict regulation of firearms
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@stefan_f_bucher
This time X was teaching a 2nd year course on a topic that Paula 6 months ago thought Paula today would love to talk about. Turns out Paula 6 months ago was right, I did actually quite enjoy it (despite the anxiety). Now onto eternal glory.
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@FilipeCampante
I've attended many seminars and read many papers that were about mitigating or preventing financial crises... I'm guessing this is an example to illustrate a point about the increasingly technocratic nature of econ rather than a claim that all economists study financial crises.
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@binaryw0r1d
Exactly. I guess when they became the most common usage of "apple" over the fruit, they felt unstoppable.
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A major problem with Numbers (the apple program not the concept) is that when I try to google how to do something, the obvious confusion results
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@sc_cath
The point about firm vs. industry wide shocks seems right, but for the opposite reason in light of It’s large firms with market power who don’t fully pass through cost shocks. Of course, this is all about marginal costs.
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