Economics
The all-pay auction, a classic competitive model, is widely applied in scenarios such as political elections, sports competitions, and research and development, where all participants pay their bids regardless of winning or losing. However,…
We provide precise conditions for nonparametric identification of causal effects by high-frequency event study regressions, which have been used widely in the recent macroeconomics, financial economics and political economy literatures. The…
We apply a pseudo panel analysis of survey data from the years 2010 and 2017 about Americans' self-reported marital preferences and perform some formal tests on the sign and magnitude of the change in educational homophily from the…
We consider ordered logit models for directed network data that allow for flexible sender and receiver fixed effects that can vary arbitrarily across outcome categories. This structure poses a significant incidental parameter problem,…
In statistical modeling, prediction and explanation are two fundamental objectives. When the primary goal is forecasting, it is important to account for the inherent uncertainty associated with estimating unknown outcomes. Traditionally,…
In this paper, we propose a novel factor-augmented forecasting regression model with a binary response variable. We develop a maximum likelihood estimation method for the regression parameters and establish the asymptotic properties of the…
We characterize robust tournament design -- the prize scheme that maximizes the lowest effort in a rank-order tournament where the distribution of noise is unknown, except for an upper bound, $\bar{H}$, on its Shannon entropy. The robust…
This study investigates the relationship between the market volatility of the iShares Asia 50 ETF (AIA) and economic and market sentiment indicators from the United States, China, and globally during periods of economic uncertainty.…
Orthogonal delay-Doppler division multiplexing (ODDM) modulation has recently gained significant attention as a promising candidate to promote the communication reliability in high-mobility environments. Low complexity signal detection is…
We study a model of competitive information design in an oligopoly search market with heterogeneous consumer search costs. A unique class of equilibria -- upper-censorship equilibria -- emerges under intense competition. In equilibrium,…
This paper studies spatial patterns formed by proximate population migration driven by real wage gradients and other idiosyncratic factors. The model consists of a tractable core-periphery model incorporating a quasi-linear log utility…
Although evidence suggests men are more generous to women than to men, it may stem from paternalism and could reverse when women excel in important skills for one's career success, such as cognitive skills. Using a dictator game, this paper…
Strategic models of legislative bargaining predict that proposers can extract high shares of economic surplus by identifying and exploiting weak coalition partners. However, strength and weakness can be difficult to assess even with…
This study replicates and adapts the experiment of Hoelzl and Rustichini (2005), which examined overplacement, i.e., overconfidence in relative self-assessments, by analyzing individuals' voting preferences between a performance-based and a…
While most of the existing literature focused on human-machine interactions with algorithmic systems in advisory roles, research on human behavior in monitoring or verification processes that are conducted by automated systems remains…
We introduce a dynamic model in which a developer incrementally improves a product of uncertain quality over time, with the quality evolving as a controlled Brownian motion. At each moment in time, the developer can continue exploring by…
Enabling battery technology has not achieved sufficient maturity to facilitate electric flight for all aircraft models across all distances. Consequently, existing discourse emphasizes electrifying short haul routes using smaller, lighter…
Preowned vehicles are disproportionally purchased by low-income households, a group that has long been unable to purchase electric vehicles. Yet, low-income households would disproportionally benefit from EV adoption given the operating…
Persistent financial frictions - including price volatility, constrained credit access, and supply chain inefficiencies - have long hindered productivity and welfare in the global agricultural sector. This paper provides a theoretical and…
Reserve prices are widely used in practice. The problem of designing revenue-optimal auctions based on reserve price has drawn much attention in the auction design community. Although they have been extensively studied, most developments…