Economics

Online marketplaces frequently run pricing experiments in environments where users choose from a list of items. In these settings, items compete for users' limited attention and demand, creating interference among items within a list:…

We show how to identify the distributions of the latent components in the two-way dyadic model for bipartite networks $y_{i,\ell}= \alpha_i+\eta_{\ell}+\varepsilon_{i,\ell}$. This is achieved by a repeated application of the extension of…

We study competitive equilibria in exchange economies when a continuum of goods is conflated into a finite set of commodities. The design of conflation choices affects the allocation of scarce resources among agents, by constraining trading…

We provide and axiomatize a representation for preferences over lotteries that generalizes the expected utility model. Since the representation uses different utility functions to evaluate different lotteries, the preferences can be…

We study statistical inference on unit roots and cointegration for time series in a Hilbert space. We develop statistical inference on the number of common stochastic trends embedded in the time series, i.e., the dimension of the…

Using rich Swedish administrative data, we apply causal machine learning methods to study how earnings losses after job displacement vary with observable characteristics that may be relevant for targeting policy interventions for workers.…

Machine-learning (ML) methods now routinely generate regressors used in subsequent econometric analyses, for example, estimated propensity scores, control-function residuals, imputed covariates, learned proxies, or low-dimensional…

We study a public good game with N citizens and a Governor who allocates resources from a common fund. Citizens may voluntarily contribute or be compelled to do so if audited, in which case shirkers face a penalty. The Governor decides how…

Decision makers often opt for the deferral outside option when they find it difficult to make an active choice. Contrary to existing logit models with an outside option where the latter is assigned a fixed value exogenously, this paper…

A vocabulary is a list of words designating subsets from a grand set X. We model a vocabulary as a partition of X and study the aggregation of individual vocabularies into a collective one. We characterize aggregation rules when X is…

Scientists agree about the urgency of the problem of climate change. Most citizens, however, pay little attention to gradually increasing temperature levels. Growing numbers of natural disasters in the world might then play a fundamental…

The rise of foundation models has driven the emergence of AI supply chains, where upstream foundation model providers offer fine-tuning and inference services to downstream firms developing domain-specific applications. Downstream firms pay…

Economists often interpret estimates from linear regressions with log dependent variables as elasticities. However, the coefficients from log-log regressions estimate the elasticity of the geometric mean of $y_i|x_i$, not the arithmetic…

This paper studies mechanism design environments in which the designer does not know the distribution of agents' private information a priori and instead learns from agents' behavior induced by the mechanism itself. We formalize a notion of…

A central challenge in financial economics is understanding how credit networks form under informational noise. We introduce the concept of topological capital, arguing that banks increasingly rely on topological certification, interpreting…

Firms collect vast amounts of behavioral and geographical data on individuals. While behavioral data captures an individual's digital footprint, geographical data reflects their physical footprint. Given the significant privacy risks…

In June 2026, the UK government will set its carbon budget for the period 2038 to 2042, the seventh such carbon budget (CB7) since the Climate Change Act became law in 2008. For the first time, this carbon budget will be accompanied by a…

We study settings in which a researcher has an instrumental variable (IV) and seeks to evaluate the effects of a counterfactual policy that alters treatment assignment, such as a directive encouraging randomly assigned judges to release…

The Growth-at-Risk (GaR) framework has garnered attention in recent econometric literature, yet current approaches implicitly assume a constant Pareto exponent. We introduce novel and robust econometrics to estimate the tails of GaR based…

As large language models (LLMs) increasingly act as autonomous agents in markets and organizations, their behavior in strategic environments becomes economically consequential. We document that off-the-shelf LLM agents exhibit systematic…