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Record W3201688646 · doi:10.1257/aer.20230039

Treatment Effects in Market Equilibrium

2025· preprint· en· W3201688646 on OpenAlexaff
Evan Munro, Stefan Wager

Bibliographic record

VenueAmerican Economic Review · 2025
Typepreprint
Languageen
FieldMathematics
TopicAdvanced Causal Inference Techniques
Canadian institutionsBooth University College
Fundersnot available
KeywordsEstimatorEconomicsEconometricsSensitivity (control systems)Consistency (knowledge bases)Market priceMicroeconomicsMathematicsStatistics

Abstract

fetched live from OpenAlex

Policy-relevant treatment effect estimation in a marketplace setting requires assessing both the direct treatment benefit and spillovers induced by changes to the market equilibrium. We show how to identify and estimate policy-relevant treatment effects using a unit-randomized trial run within a single large market. A Bernoulli-randomized trial allows consistent estimation of direct effects and of treatment-heterogeneity measures that enable welfare-improving targeting. Estimating spillovers—and providing confidence intervals for the direct effect—requires estimates of price elasticities, which we provide using an augmented experimental design. We illustrate our results using a simulation calibrated to a conditional cash-transfer experiment in the Philippines. (JEL C21, C51, I32, I38, O15)

Fetched live from OpenAlex and de-inverted. Abstracts are not stored in this database: the inverted indexes are 8.6 GB of the frame’s 9.3 GB of text, and the host has 13 GB free.

How this classification was reachedexpand

Full frame machine prediction

Teacher imitation

Not calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.

metaresearch head score (Codex)0.054
metaresearch head score (Gemma)0.184
Version: metacan-v3-hybrid-931329e0061cValidation status: machine_predicted_unvalidated
Candidate categoriesnone
Consensus categoriesnone
DomainCandidate signal: none · Consensus signal: none
Study designCandidate signal: Theoretical or conceptual · Consensus signal: Theoretical or conceptual
GenreCandidate signal: Methods · Consensus signal: Methods
Teacher disagreement score0.054
Threshold uncertainty score0.284

Distilled classifier scores by category (both heads)

CategoryCodexGemma
Metaresearch0.0540.184
Meta-epidemiology (narrow)0.0010.001
Meta-epidemiology (broad)0.0040.003
Bibliometrics0.0010.002
Science and technology studies0.0010.006
Scholarly communication0.0040.007
Open science0.0030.003
Research integrity0.0060.005
Insufficient payload (model declined to judge)0.0440.002

Machine scores (provisional)

The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.

Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.

Opus teacher head0.082
GPT teacher head0.425
Teacher spread0.342 · how far apart the two teachers sit on this one work
Validation statusscore_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from it

Classification

machine, unvalidated

Machine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.

The models applied no category: nothing in the taxonomy fit this work.
Study designTheoretical or conceptual
Domainnot available
GenreMethods

How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".

Quick stats

Citations4
Published2025
Admission routes1
Has abstractyes

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