Collaborative Research: Labor Market and Public Policy Preferences

人们想要什么（偏好）是经济分析和政策制定的核心。 然而，没有一种简单或普遍接受的方法可以从数据中衡量偏好。 拟议的研究开发了一种便携式，可扩展的，易于测量的偏好揭示（启发）的方法，称为贝叶斯自适应选择实验（BACE）。 BACE改进了用于政策分析、监管和诉讼的现有偏好诱导方法。该方法将用于研究重要的和与政策有关的问题：（一）对工作便利的偏好，如工作场所的灵活性，以及这种便利的坚定提供-面对全球技术和组织变革的重要考虑因素。 这一点很重要，因为全球技术和组织变革有可能改变工作结构，因为提供工作场所便利设施的成本会随着时间的推移而变化。(ii)在对公共政策的偏好方面，研究提出了比较不同人口群体的各种政策的福利效益的方法。除了这些应用之外，BACE还显示了新一代调查和实验方法的潜力，可以帮助研究人员和政策制定者评估非市场资源。 这项研究的结果将大大有助于改善经济分析，提高公共政策和商业决策的质量，从而促进经济增长。 BACE提供了一个有效的动态诱导过程进行选择实验。它通过生成基于先验的信息最大化选择场景序列来实现这一点，该先验根据先前的答案进行更新，以获得个体水平的贝叶斯后验估计。该程序允许更高的精度的参数估计与较少的选择方案，同时也克服了系统偏差，估计平均偏好参数常用的静态方法。将该方法应用于对工作便利的偏好，由此产生的个人层面的偏好数据使得有可能估计一个新的补偿差异模型，该模型扩展了经典的罗森（1986）框架。 将BACE应用于公共政策支付意愿，产生了关于政策偏好相关性的新证据，并导致对公共资金边际价值的新估计。BACE在这项研究中的实施是向前迈出的一步，使这种程序被广泛采用，以衡量重要的投入，了解广泛的社会科学现象。 这项研究的成果将大大有助于改善经济分析以及提高公共政策和商业决策的质量，从而促进经济增长。该奖项反映了NSF的法定使命，并被认为值得通过使用基金会的知识价值和更广泛的影响审查标准进行评估来支持。

What people want (preferences) is central to economic analysis and policy formulation. Yet there is no easy or generally acceptable way of measuring preferences from data. The proposed research develops a portable, scalable, and easy to measure preference revelation (elicitation) method called the Bayesian Adaptive Choice Experiment (BACE). BACE improves upon existing preference elicitation approaches that are used in policy analysis, regulation, and litigation. The method will be applied to study important and policy-relevant questions: (i) preferences for job amenities such as workplace flexibility, and firm provision of such amenities---important considerations in the face of global technical and organizational changes. This is important as global technical and organizational changes have the potential to alter the structure of work as the costs of providing workplace amenities shift over time. (ii) in preferences for public policies, the research produces method of comparing the welfare benefits of various policies for different demographic groups. In addition to these applications, BACE shows the potential for a new generation of surveys and experimental methods to do much more in helping researchers and policymakers value non-market resources. The results of this research will contribute significantly to improve economic analyses as well as improve the quality of public policies and business decisions and thus increase economic growth. BACE provides an efficient dynamic elicitation procedure for conducting choice experiments. It does so by generating the information-maximizing sequence of choice scenarios based on a prior that gets updated with previous answers to obtain individual-level Bayesian posterior estimates. The procedure allows for a higher precision of the parameter estimates with fewer choice scenarios presented to each subject while also overcoming systematic biases in estimating average preference parameters from commonly used static approaches. Applying the method to preferences for job amenities, the resulting individual-level preference data makes it possible to estimate a new model of compensating differentials that extends the classic Rosen (1986) framework. Applying BACE to willingness to pay for public policies produces new evidence on the correlates of policy preferences and leads to novel estimates of the Marginal Value of Public Funds. The implementation of BACE in this research is a step forward in allowing such procedures to be widely adopted to measure important inputs for understanding a broad range of phenomena in social sciences. The results of this research will contribute significantly to improve economic analyses as well as improve the quality of public policies and business decisions and thus increase economic growth.This award reflects NSF's statutory mission and has been deemed worthy of support through evaluation using the Foundation's intellectual merit and broader impacts review criteria.