Economics

This paper studies a game in which an informed sender with state-independent preferences uses verifiable messages to convince a receiver to choose an action from a finite set. We characterize the equilibrium outcomes of the game and compare…

I provide a sufficient condition under which a principal does not benefit from committing to a mechanism in economic models represented by a maximisation problem under constraints. These problems include mechanism design, principal-agent…

This paper examines how Polish consumers are adapting to online insurance purchasing channels and what factors influence their preferences. Drawing on a structured survey of 100 respondents with varied demographic profiles, the study…

We propose a refinement of correlated equilibrium based on mediator errors, called correlated perfect equilibrium (CPE). In finite games, the set of CPE is nonempty and forms a finite union of convex sets. Like perfect equilibrium, a CPE…

Motivated by the prevalence of prediction problems in the economy, we study markets in which firms sell models to a consumer to help improve their prediction. Firms decide whether to enter, choose models to train on their data, and set…

We study the effect of providing information to agents who queue before a scarce good is distributed at a fixed time. Many information policies reveal "sudden bad news," when agents learn the queue is longer than previously believed. Sudden…

I study the optimal allocation of positional goods in the presence of externalities arising from consumers' concerns about relative consumption. Applications include luxury goods, priority services, education, and organizational…

We consider a model of third-degree price discrimination where the seller's product valuation is unknown to the market designer, who aims to maximize buyer surplus by revealing buyer valuation information. Our main result shows that the…

Generative AI tools such as ChatGPT can fundamentally change the way investors process information. We probe the economic usefulness of these tools in summarizing complex corporate disclosures using the stock market as a laboratory. The…

Identification-robust hypothesis tests are commonly based on the continuous updating GMM objective function. When the number of moment conditions grows proportionally with the sample size, the large-dimensional weighting matrix prohibits…

This paper derives asymptotic theory for Breitung's (2002, Journal of Econometrics 108, 343-363) nonparameteric variance ratio unit root test when applied to regression residuals. The test requires neither the specification of the…

A menu description exposes strategyproofness by presenting a mechanism to player $i$ in two steps. Step (1) uses others' reports to describe $i$'s menu of potential outcomes. Step (2) uses $i$'s report to select $i$'s favorite outcome from…

Traditional inference in cointegrating regressions requires tuning parameter choices to estimate a long-run variance parameter. Even in case these choices are "optimal", the tests are severely size distorted. We propose a novel…

Portfolio optimization is a critical task in investment. Most existing portfolio optimization methods require information on the distribution of returns of the assets that make up the portfolio. However, such distribution information is…

This study explores how different managerial behaviors influence team effectiveness and organizational outcomes, using Kenneth Blanchard's situational leadership model as a diagnostic tool. Conducted across ten companies, the research…

Currency crises are frequently discussed retrospectively as a necessary and deterministic outcome of a finite sequence of fiscal decisions, monetary manoeuvres, and limited exogenous inputs. Parallelly, the Twin Deficits Hypothesis (TDH)…

In a recent publication, using a simple two-period model, which is already capable to capture essential non-convex multiperiod bids, Richstein et al. have shown that in the case of optimal bidding, multi-part bidding always ensures a higher…

This paper examines the impact of internal communication on effective business management through a comparative analysis of two medium-sized car rental companies operating in Poland. Using a structured survey completed by 220 employees, the…

This study investigates the significance of emotional intelligence (EI) as a fundamental component of effective leadership and its impact on building cohesive, motivated, and high-performing teams. Drawing on data from a survey of 100…

As artificial intelligence (AI) enters the agentic era, large language models (LLMs) are increasingly deployed as autonomous agents that interact with one another rather than operate in isolation. This shift raises a fundamental question:…