Economics
Restricting individuals' access to some opportunities may steer their desire toward their substitutes, a phenomenon known as the forbidden fruit effect. We axiomatize a choice model named restriction-sensitive choice (RSC), which…
This paper studies general multi-unit probabilistic assignment problems involving indivisible objects, with a particular focus on achieving the fairness notion of equal treatment of equals (ETE) and satisfying various efficiency criteria.…
This paper offers a commentary on the use of notions of statistical significance in choice modelling. We review the reasons for uncertainty in parameter estimates, provide a precise discussion on the computation of measures of uncertainty…
In the context of aggregating von Neumann-Morgenstern utilities, we show that bounded violations of the Pareto conditions characterize aggregation rules that are approximately utilitarian. When a single utility function is intended to…
It has long been established that, if a panel dataset suffers from attrition, auxiliary (refreshment) sampling restores full identification under additional assumptions that still allow for nontrivial attrition mechanisms. Such…
We study stochastic choice across decision problems, each represented as a menu of action labels paired with observable outcome vectors. We propose a consistency condition for behavior in decision problems composed of two separable…
This paper develops a difference-in-differences framework for staggered policy adoption when units can be affected by other units' adoption. For each treated cohort and event time, the framework separates the effect of own adoption, the…
Instrumental variables (IV) methods are central to applied microeconomics. While classical approaches assume linear models with constant effects, recent literature has shifted toward the local average treatment effect (LATE) framework to…
News media coverage of monetary policy is not a passive transcript of central-bank communication: it filters announcements, macroeconomic news, and editorial choices into narratives that move expectations and policy decisions. We embed…
The aim of this study is to empirically investigate the existence of a sectoral asset price channel of monetary policy in the region of the six republics of former Yugoslavia. The study constructs sectoral indices for the entire region,…
This script offers an implementation-oriented introduction to deep learning methods for solving and estimating high-dimensional dynamic stochastic models in economics and finance. Its starting point is the curse of dimensionality:…
We study a model in which shocks propagate along a path chosen by agents embedded in a network. When a shock hits an agent, the affected agent cancels one of her outgoing edges. This cancellation cascades sequentially along a chosen path…
This paper extends the incomplete model of Haile and Tamer (2003) from static English auctions to sequential English auctions. Because bidders may wait for future opportunities, the static condition that bidders do not let rivals win at…
Regret is the cost of uncertainty in algorithmic decision-making. Quantifying regret typically requires computationally expensive simulation via Sample Average Approximation (SAA), with complexity $\mathcal{O}(Bn^{2}d^{3})$ in the number of…
I study a decentralized marriage market with search frictions, costly pre-marital skill investments, and non-transferable utility. Despite a symmetric environment, the market can exhibit asymmetric equilibria, with one gender investing more…
On platforms where time-to-contract is itself payoff-relevant--Aalsmeer's flower auctions, ride-hailing dispatch, on-demand-labor matching--the textbook revenue equivalence between Dutch and first-price formats holds the trading outcome…
Consider a social-choice function (SCF) is chosen to decide votes in a formal system, including votes to replace the voting method itself. Agents vote according to their ex-ante belief over what decisions are considered, and whether they…
A well-known feature of overlapping generations economies is that the First Welfare Theorem fails and equilibrium may be inefficient. The Cass (1972) criterion furnishes a necessary and sufficient condition for efficiency, but it does not…
Boundary discontinuity designs are used to learn about causal treatment effects along a continuous assignment boundary that splits units into control and treatment groups according to a bivariate location score. We analyze location-based…
We consider voting rules in settings where voters' identities are difficult to verify. Voters can manipulate the process by casting multiple votes under different identities or abstaining from voting. Immunities to such manipulations are…