All Outputs (6)

The plague, the skill-premium, and the road to modern economic growth (2024)
Journal Article
Jensen, M. K., & Luo, R. (2024). The plague, the skill-premium, and the road to modern economic growth. Macroeconomic Dynamics, https://doi.org/10.1017/S1365100523000573

When bubonic plague arrived in Britain in the mid-14th century, it caused dramatic economic and structural change. Within 50 years, the skill-premium was reduced by half, and another 50 years on, agriculture's share of the labor force had declined by... Read More about The plague, the skill-premium, and the road to modern economic growth.

Equilibrium Analysis in Behavioural One-Sector Growth Models (2023)
Journal Article
Acemoglu, D., & Jensen, M. K. (2024). Equilibrium Analysis in Behavioural One-Sector Growth Models. Review of Economic Studies, 91(2), 599-640. https://doi.org/10.1093/restud/rdad043

Rich behavioral biases, mistakes and limits on rational decision-making are often thought to make equilibrium analysis much more intractable. We establish that this is not the case in the context of one-sector growth models such as Ramsey-Cass-Koopma... Read More about Equilibrium Analysis in Behavioural One-Sector Growth Models.

Evolutionary games and matching rules (2018)
Journal Article
Jensen, M. K., & Rigos, A. (2018). Evolutionary games and matching rules. International Journal of Game Theory, 47(3), 707-735. https://doi.org/10.1007/s00182-018-0630-1

This study considers evolutionary games with non-uniformly random matching when interaction occurs in groups of n≥2 individuals using pure strategies from a finite strategy set. In such models, groups with different compositions of individuals genera... Read More about Evolutionary games and matching rules.

Distributional Comparative Statics (2017)
Journal Article
Jensen, M. K. (2018). Distributional Comparative Statics. Review of Economic Studies, 85(1), 581-610. https://doi.org/10.1093/restud/rdx021

Distributional comparative statics is the study of how individual decisions and equilibrium outcomes vary with changes in the distribution of economic parameters (income, wealth, productivity, information, etc.). This article develops new tools to ad... Read More about Distributional Comparative Statics.

A representation theorem for guilt aversion (2016)
Journal Article
Jensen, M. K., & Kozlovskaya, M. (2016). A representation theorem for guilt aversion. Journal of Economic Behavior and Organization, 125, 148-161. https://doi.org/10.1016/j.jebo.2016.02.001

Guilt aversion has been shown to play an important role in economic decision-making. In this paper, we take an axiomatic approach to guilt by deducing a utility representation from a list of easily interpretable assumptions on an agent's preferences.... Read More about A representation theorem for guilt aversion.

Robust Comparative Statics in Large Dynamic Economies (2015)
Journal Article
Acemoglu, D., & Jensen, M. K. (2015). Robust Comparative Statics in Large Dynamic Economies. Journal of Political Economy, 123(3), 587-640. https://doi.org/10.1086/680685

We consider infinite-horizon economies populated by a continuum of agents subject to idiosyncratic shocks. This framework contains models of saving and capital accumulation with incomplete markets in the spirit of works by Bewley, Aiyagari, and Hugge... Read More about Robust Comparative Statics in Large Dynamic Economies.