Philipp Strack
We compare how well agents aggregate information in two repeated social learning environments. In the first setting agents have access to a public data set. In the second they have access to the same data, and also to the past actions of…
A monopolist offers personalized prices to consumers with unit demand, heterogeneous values, and idiosyncratic costs, who differ in a protected characteristic, such as race or gender. The seller is subject to a non-discrimination…
Our work explores fusions, the multidimensional counterparts of mean-preserving contractions and their extreme and exposed points. We reveal an elegant geometric/combinatorial structure for these objects. Of particular note is the…
In this paper, we explore a scenario where a sender provides an information policy and a receiver, upon observing a realization of this policy, decides whether to take a particular action, such as making a purchase. The sender's objective…
The expectation is an example of a descriptive statistic that is monotone with respect to stochastic dominance, and additive for sums of independent random variables. We provide a complete characterization of such statistics, and explore a…
We study how long-lived, rational agents learn in a social network. In every period, after observing the past actions of his neighbors, each agent receives a private signal, and chooses an action whose payoff depends only on the state.…
We develop an axiomatic theory of information acquisition that captures the idea of constant marginal costs in information production: the cost of generating two independent signals is the sum of their costs, and generating a signal with…
The drift diffusion model (DDM) is a model of sequential sampling with diffusion (Brownian) signals, where the decision maker accumulates evidence until the process hits a stopping boundary, and then stops and chooses the alternative that…
We study information design settings where the designer controls information about a state, and there are multiple agents interacting in a game who are privately informed about their types. Each agent's utility depends on all agents' types…
We show that under plausible levels of background risk, no theory of choice under risk -- such as expected utility theory, prospect theory, or rank dependent utility -- can simultaneously satisfy the following three economic postulates: (i)…
We study repeated independent Blackwell experiments; standard examples include drawing multiple samples from a population, or performing a measurement in different locations. In the baseline setting of a binary state of nature, we compare…
We study how long-lived rational agents learn from repeatedly observing a private signal and each others' actions. With normal signals, a group of any size learns more slowly than just four agents who directly observe each others' private…
Stochastic dominance is a crucial tool for the analysis of choice under risk. It is typically analyzed as a property of two gambles that are taken in isolation. We study how additional independent sources of risk (e.g. uninsurable labor…
We explore conclusions a person draws from observing society when he allows for the possibility that individuals' outcomes are affected by group-level discrimination. Injecting a single non-classical assumption, that the agent is…
We study dynamic matching in exchange markets with easy- and hard-to-match agents. A greedy policy, which attempts to match agents upon arrival, ignores the positive externality that waiting agents generate by facilitating future matchings.…
Timing decisions are common: when to file your taxes, finish a referee report, or complete a task at work. We ask whether time preferences can be inferred when \textsl{only} task completion is observed. To answer this question, we analyze…
The fields of quantum simulation with cold atoms [1] and quantum optics [2] are currently being merged. In a set of recent pathbreaking experiments with atoms in optical cavities [3,4] lattice quantum many-body systems with both, a…
Let $X$ be a one-dimensional diffusion and let $g\colon[0,T]\times\mathbb{R}\to\mathbb{R}$ be a payoff function depending on time and the value of $X$. The paper analyzes the inverse optimal stopping problem of finding a time-dependent…
We provide a theory for quantum-optical realizations of the open Dicke model with internal, atomic spin states subject to spontaneous emission with rate $\gamma$. This introduces a second decay channel for excitations to irreversibly…
We study the fate of weakly coupled dual QED3 in the infrared, that is, a single two-component Dirac fermion coupled to an emergent U(1) gauge field, but without Chern-Simons term. This theory has recently been proposed as a dual…