http://rss.arxiv.org/rss/econ.GN econ.GN updates on the arXiv.org e-print archive. http://www.rssboard.org/rss-specification en-us Mon, 21 Sep 2026 04:00:03 +0000 rss-help@arxiv.org Mon, 21 Sep 2026 00:00:00 -0400 Sunday Saturday https://arxiv.org/abs/2609.21478 arXiv:2609.21478v1 Announce Type: new Abstract: We estimate housing externalities in a high-density city, exploiting the staggered rollout of Singapore's nationwide Main Upgrading Programme for public housing. Controlling for nonrandom neighborhood exposure, we find that upgrading raises treated buildings' prices by 11.5% upon completion and neighboring buildings' resale prices by about 2% within 500 meters, decaying to zero beyond. A model with distance-decaying externalities shows that in dense settings spillovers justify the distortions of in-kind provision; this advantage diminishes and reverses at lower densities. Administrative data on over 2 million residents show that upgrading disproportionately retains older incumbents, suggesting age-specific amenities as an underexplored externality channel. oai:arXiv.org:2609.21478v1 econ.GN q-fin.EC Mon, 21 Sep 2026 00:00:00 -0400 new http://arxiv.org/licenses/nonexclusive-distrib/1.0/ Sumit Agarwal, Ying Deng, Yi Fan, Qi Gao, Jing Li, Lin Ma https://arxiv.org/abs/2609.07358 arXiv:2609.07358v2 Announce Type: replace Abstract: Generative AI has become an everyday advisor, and the systems people consult are live and interactive, not pre-scripted. We ask whether access to such a system changes behavior under risk. In an incentivized experiment (N = 158), participants made lottery choices with an optional decision aid presented as a conventional pre-written tool, a live one-shot AI, or a live interactive AI they could query, with information format held equivalent across conditions. Risk preferences are elicited via DOSE. We find no evidence that access to a live AI advisor changes risk aversion. oai:arXiv.org:2609.07358v2 econ.GN econ.TH q-fin.EC Mon, 21 Sep 2026 00:00:00 -0400 replace http://creativecommons.org/licenses/by-nc-sa/4.0/ Paul Althaus, Leon Houf, Christiane Schwieren https://arxiv.org/abs/2609.19660 arXiv:2609.19660v2 Announce Type: replace Abstract: We examine the effectiveness of work requirements as a screening device in the Supplemental Nutrition Assistance Program (SNAP). Work requirements for "able-bodied adults without dependents" were suspended after the Great Recession and gradually reinstated across counties and states in the 2010s. Using linked administrative SNAP and employment data from five states and a triple-differences design, we find that work requirements reduce SNAP participation by seven percent without increasing labor supply and disproportionately screen out low-income individuals. We develop a welfare framework to interpret these results and find that the social costs of work requirements exceed budget savings. oai:arXiv.org:2609.19660v2 econ.GN q-fin.EC Mon, 21 Sep 2026 00:00:00 -0400 replace http://arxiv.org/licenses/nonexclusive-distrib/1.0/ Lexin Cai, Hyewon Kim, Pauline Leung https://arxiv.org/abs/2511.21646 arXiv:2511.21646v2 Announce Type: replace-cross Abstract: Optimal control of interacting particles governed by stochastic evolution equations in Hilbert spaces is an open area of research. Such systems naturally arise in formulations where each particle is modeled by stochastic partial differential equations, path-dependent stochastic differential equations (such as stochastic delay differential equations or stochastic Volterra integral equations), or partially observed stochastic systems. The purpose of this manuscript is to build a limiting theory as the number of particles tends to infinity via the dynamic programming approach. We prove the convergence of the value functions $u_n$ of finite particle systems to a function $\mathcal{V}$, which is the unique $L$-viscosity solution of the corresponding mean-field Hamilton-Jacobi-Bellman equation in the space of probability measures, and we identify its lift with the value function $U$ of the so-called ``lifted'' limit optimal control problem. Under suitable additional assumptions, we show $C^{1,1}$-regularity of $U$, we prove that $\mathcal{V}$ projects precisely onto the value functions $u_n$, and that optimal (resp. optimal feedback) controls of the particle system correspond to optimal (resp. optimal feedback) controls of the lifted control problem started at the corresponding initial condition. To the best of our knowledge, these are the first results of this kind for stochastic optimal control problems for interacting particle systems of stochastic evolution equations in Hilbert spaces. We apply the developed theory to problems arising in economics where the particles are modeled by stochastic delay differential equations and stochastic partial differential equations. oai:arXiv.org:2511.21646v2 math.PR econ.GN math.AP math.OC q-fin.EC Mon, 21 Sep 2026 00:00:00 -0400 replace-cross http://arxiv.org/licenses/nonexclusive-distrib/1.0/ Filippo de Feo, Fausto Gozzi, Andrzej \'Swi\k{e}ch, Lukas Wessels