Economics

We propose Mixed-Panels-Transformer Encoder (MPTE), a novel framework for estimating factor models in panel datasets with mixed frequencies and nonlinear signals. Traditional factor models rely on linear signal extraction and require…

I study how firms adjust to temporary disruptions in international trade relationships organized through relational contracts. I exploit an extreme, plausibly exogenous weather shock during the 2010-11 La Ni\~na season that restricted…

We study kernel-based estimation of nonparametric time-varying parameters (TVPs) in linear models. Our contributions are threefold. First, we establish consistency and asymptotic normality of the kernel-based estimator for a broad class of…

We study a multivariate regression discontinuity design in which treatment is assigned by crossing a boundary in the space of multiple running variables. We document that the existing bandwidth selector is suboptimal for a multivariate…

This study examines how multinational enterprises structure ownership chains to coordinate subsidiaries across multiple national borders. Using a unique global dataset, we first document key stylized facts: 54% of subsidiaries are…

The paper studies identification in triple-difference designs when spillover effects contaminate one or more control groups. We show that, under conventional identifying assumptions, the triple-difference model fails to identify both the…

We study a screening problem in which an agent privately observes a set of feasible technologies and can strategically disclose only a subset to the principal. The principal then takes an action whose payoff consequences for both players…

Many multiagent systems rely on collective decision-making among self-interested agents, which raises deep questions about coalition formation and stability. We study social choice with endogenous, outcome-contingent transfers, where agents…

Generative AI is changing how software is produced and used. In vibe coding, an AI agent builds software by selecting and assembling open-source software (OSS), often without users directly reading documentation, reporting bugs, or…

We study mixed bundling and competitive price-matching guarantees (PMGs) in a duopoly selling complementary products to heterogeneous customers. One retailer offers mixed bundling while the rival sells only a bundle. We characterize unique…

This paper presents the Sequential Rationality Hypothesis, which argues that consumers are better able to make utility-maximizing decisions when products appear in sequential pairwise comparisons rather than in simultaneous multi-option…

Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…

I study the simplest model of revenue management with reusable resources: admission control of two customer classes into a loss queue. This model's long-run average collected reward has two natural upper bounds: the deterministic relaxation…

We identify volatility spillovers across commodities, equities, and treasuries using a hybrid HAR-ElasticNet framework on daily realized volatility for six futures markets over 2002--2025. Our two step procedure estimates own-volatility…

In finite problems comprising objects, situations, and an object- and situation-contingent payoff function, we study the comparative statics of the set of undominated objects, meaning those for which there exists no mixture over objects…

We study the interplay of information and prior (mis)perceptions in a Phelps-Aigner-Cain-type model of statistical discrimination in the labor market. We decompose the effect on average pay of an increase in how informative observables are…

Generative modelling with Transformer architectures can simulate complex sequential structures across various applications. We extend this line of work to the social sciences by introducing a Transformer-based generative model tailored to…

A primary challenge in collective decision-making is that achieving unanimous agreement is difficult, even at the level of criteria. The history of social choice theory illustrates this: numerous normative criteria on voting rules have been…

We study the subtlety of optimal paternalism when a utilitarian planner has the power to design a discrete choice set for a heterogeneous population with bounded rationality. We first consider the planning problem in abstraction. We show…

Despite the growing importance of the digital sector, research on economic complexity and its implications continues to rely mostly on administrative records, e.g. data on exports, patents, and employment, that have blind spots when it…