Economics
This paper studies a dynamic screening model in which a principal hires an agent with limited liability. The agent's private cost of working is an i.i.d. draw from a continuous distribution. His working status is publicly observable. The…
Originating in evolutionary game theory, the class of "zero-determinant" strategies enables a player to unilaterally enforce linear payoff relationships in simple repeated games. An upshot of this kind of payoff constraint is that it can…
This paper investigates how institutional learning and regional spillovers shape volatility dynamics in ASEAN equity markets. Using daily data for Indonesia, Malaysia, the Philippines, and Thailand from 2010 to 2024, we construct a…
Socioeconomic segregation often arises in school districting and other contexts, causing some groups to be over- or under-represented within a particular district. This phenomenon is closely linked with disparities in opportunities and…
This paper investigates how content moderation affects content creation in an ideologically diverse online environments. We develop a model in which users act as both creators and consumers, differing in their ideological affiliation and…
The paper is related to the identification of firm's features which serve as determinants for firm's total factor productivity through unsupervised learning techniques (principal component analysis, self organizing maps, clustering). This…
Infants are most vulnerable to child maltreatment, which may be due in part to economic instability during the perinatal period. In 2024, Rx Kids was launched in Flint, Michigan, achieving near 100% aggregate take up and providing every…
By clarifying the bases for the Verizon Communications Inc. v. Law Offices of Curtis V. Trinko, LLP, 2004 opinion, we hope to reduce two distinct errors. The false positive error is citing Trinko as precedent when it is not. This error is…
We introduce a novel framework for simulating macroeconomic expectations using LLM Agents. By constructing LLM Agents equipped with various functional modules, we replicate three representative survey experiments involving several…
We offer evidence that federal emergency assistance (FEMA) in the days following natural disasters mitigate evictions in comparison to similar emergency scenarios where FEMA aid is not provided. We find an approximate 10.9% increase in…
We study dynamic network formation from a centralized perspective. In each period, the social planner builds a single link to connect previously unlinked pairs. The social planner is forward-looking, with instantaneous utility monotonic in…
We study how a principal can jointly shape an agent's timing and action through information. We develop a revelation principle: with intertemporal commitment, the problem simplifies to choosing a joint distribution over stopping times and…
I revisit the standard moral-hazard model, in which an agent's preference over contracts is rooted in costly effort choice. I characterise the behavioural content of the model in terms of empirically testable axioms, and show that the…
We develop a theory of monotone comparative statics for models with adjustment costs. We show that comparative-statics conclusions may be drawn under the usual ordinal complementarity assumptions on the objective function, assuming very…
In the persuasion model, apart from a few special cases, comparative statics has been an open question. We answer it, delineating which shifts of the sender's interim payoff lead her optimally to choose a more informative signal. Our first…
This paper proposes an identification inspired from the SVAR-IV literature that uses external instruments to identify PVARs, and discusses associated issues of identification, estimation, and inference. I introduce a form of local average…
We propose a new formulation of the maximum score estimator that uses compositions of rectified linear unit (ReLU) functions, instead of indicator functions as in Manski (1975,1985), to encode the sign alignment restrictions. Since the ReLU…
We set out to solve a dual puzzle regarding reproductive strategies: The "Ancient vs. Modern" Puzzle (why pre-modern elites adopted a "Survival" strategy while modern elites adopt an "Anxiety" strategy) and the "Class Divide" Puzzle (why…
We revisit Esteban and Ray's (1994) seminal model of polarization. Their main result (unnecessarily) relies on the assumption that individuals are infinitely divisible, which imposes strong restrictions on admissible polarization indices.…
Mutual trust is a key determinant of decision-making in economic interactions, yet actual behavior often diverges from equilibrium predictions. This study investigates how emotional arousal, indexed by skin conductance responses,SCR,…