Economics
The student-optimal stable mechanism (DA), the most popular mechanism in school choice, is the only one that is stable and strategy-proof. However, when DA is implemented, a student can change the schools of others without changing her own.…
Regulation is a major driver of housing supply, yet often difficult to observe directly. This paper estimates frontier cost, the non-land cost of producing housing absent regulation, and regulatory tax, which quantifies regulation in money…
We study the problem of aggregating individual preferences over alternatives into a collective ranking. A distinctive feature of our setting is that agents are matched to alternatives. Applications include rankings of colleges or academic…
Using aggregate, sectoral, and firm-level data, this paper examines the effects of two major U.S. corporate tax cuts. The Tax Cuts and Jobs Act (TCJA-17) led to large shareholder payouts but modest aggregate stimulus, while Kennedy's 1960s…
The COVID-19 pandemic exposed critical vulnerabilities in vaccine supply chains, highlighting the need for robust manufacturing for rapid pandemic response to support CEPI's 100 Days Mission. We develop a discrete-event simulation model to…
Many economic models feature moment conditions that involve latent variables. When the latent variables are individual fixed effects in an auxiliary panel data regression, we construct orthogonal moments that eliminate first-order bias…
We study whether a social planner can improve the efficiency of learning, measured by the expected total welfare loss, in a sequential decision-making environment. Agents arrive in order and each makes a binary action based on their private…
Growing concerns about housing affordability have prompted the adoption of rent control policies and renewed debates over their effectiveness. This paper provides the first empirical evaluation of the 2024 rent control policy implemented in…
Around three quarters of Bitcoin transactions take place off-chain. Despite their significance, the vast majority of the empirical literature on cryptocurrencies focuses on on-chain transactions. This paper presents one of the first…
This paper examines how gender and residential socioeconomic status shape hiring outcomes in the information technology sector using a field experiment from the city of Karachi, Pakistan. Employers in Pakistan can openly state preferences…
Once failure is irreversible, continuation payoffs cannot be meaningfully aggregated across strategies that differ in their survival properties. Standard scalar evaluation sidesteps this by arbitrarily completing payoffs beyond termination,…
We develop a general framework for incorporating distributional preferences in market design. We identify the structural properties of these preferences that guarantee the path independence of choice rules. In decentralized settings, a…
Communication scene recognition has been widely applied in practice, but using deep learning to address this problem faces challenges such as insufficient data and imbalanced data distribution. To address this, we designed a weighted loss…
Orthogonal delay-Doppler division multiplexing (ODDM) is a promising modulation technique for reliable communications in high-mobility scenarios. However, the existing channel estimation frameworks for ODDM systems cannot achieve both high…
This paper develops a theory of learning under ambiguity induced by the decision maker's beliefs about the collection of data correlated with the true state of the world. Within our framework, two classical results on Bayesian learning…
Prophet inequalities bound the expected reward that can be obtained in a stopping problem by the optimal reward of its corresponding off-line version. We propose a systematic technique for deriving prophet inequalities for stopping problems…
We study inference in models where a transformation of parameters exhibits first-order degeneracy -- that is, its gradient is zero or close to zero, making the standard delta method invalid. A leading example is causal mediation analysis,…
Bank failures can stem from runs on otherwise solvent banks or from losses that render banks insolvent, regardless of withdrawals. Disentangling the relative importance of liquidity and solvency in explaining bank failures is central to…
Building on the generalized hedonic-linear model of Pellegrino (2025), this paper studies optimal product differentiation when a representative consumer has preferences over product characteristics. Under multiproduct monopoly, the…
Clinical trials shape medical evidence and determine who gains access to experimental therapies. Whether participation in these trials reflects the global burden of disease remains unclear. Here we analyze participation inequality across…