arXiv 9 Apr 2025 · Econometrics
arXiv:2504.07217 · PDF · DOI · OpenAlex · Extracted main text
Equilibrium effects make it challenging to evaluate the impact of an individual-level treatment on outcomes in a single market, even with data from a randomized trial. In some markets, however, a centralized mechanism allocates goods and imposes useful structure on spillovers. For a class of strategy-proof "cutoff" mechanisms, we propose an estimator for global treatment effects using individual-level data from one market, where treatment assignment is unconfounded. Algorithmically, we re-run a weighted and perturbed version of the mechanism. Under a continuum market approximation, the estimator is asymptotically normal and semi-parametrically efficient. We extend this approach to learn spillover-aware treatment rules with vanishing asymptotic regret. Empirically, adjusting for equilibrium effects notably diminishes the estimated effect of information on inequality in the Chilean school system.
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The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.
| Reference | Intensity | Mentions | Sections | Main text | |
|---|---|---|---|---|---|
| 1 | Munro, Kuang \ Wager (2025) `Treatment effects in market equilibrium', American Economic Review 115(10), 3273–3321 | 0.928 | 5 | 4 | 80% |
| 2 | Kallus, Mao \ Uehara (2024) `Localized debiased machine learning: Efficient inference on quantile treatment effects and beyond', Journal of Machine Learning… | 0.894 | 7 | 4 | 71% |
| 3 | Azevedo \ Leshno (2016) `A supply and demand framework for two-sided matching markets', Journal of Political Economy 124(5), 1235–1268 | 0.874 | 7 | 2 | 100% |
| 4 | Allende, Gallego \ Neilson (2019) Approximating the equilibrium effects of informed school choice, Technical report | 0.811 | 4 | 2 | 100% |
| 5 | Chernozhukov, Chetverikov, Demirer, Duflo, Hansen, Newey \ Robins (2018) `Double/debiased machine learning for treatment and structural parameters', The Econometrics Journal | 0.737 | 3 | 2 | 100% |
| abdulkadirouglu2017research | unmatched citation key abdulkadirouglu2017research | 0.693 | 6 | 3 | 33% |
| 7 | Athey \ Wager (2021) `Policy learning with observational data', Econometrica 89(1), 133–161 | 0.644 | 2 | 2 | 100% |
| 8 | Viviano (2024) `Policy targeting under network interference', The Review of Economic Studies 92(2), 1257–1292 | 0.644 | 2 | 2 | 100% |
| 9 | van der Vaart \ Wellner (1997) `Weak convergence and empirical processes with applications to statistics', Journal of the Royal Statistical Society-Series A St… | 0.523 | 7 | 3 | 14% |
| 10 | Firpo (2007) `Efficient semiparametric estimation of quantile treatment effects', Econometrica 75(1), 259–276 | 0.511 | 3 | 2 | 33% |
Showing the top 10 of 52 scored citations. 1 of these could not be matched to a bibliography entry, so only the citation key is shown.
arXiv econ.EM papers that cite this one, ranked by how heavily they lean on it.
| Citing paper | Intensity | Mentions | Sections | |
|---|---|---|---|---|
| 1 | Decomposition of Spillover Effects Under Misspecification: Pseudo-True Estimands and a Local-Global Extension | 0.511 | 2 | 1 |
| 2 | Causal Effects in Matching Mechanisms with Strategically Reported Preferences | 0.405 | 1 | 1 |