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To determine the welfare implications of price changes in demand data, we introduce a revealed preference relation over prices. We show that the absence of cycles in this relation characterizes a consumer who trades off the utility of…
A multiproduct seller is more informed than consumers about the value of her products to consumers. The seller posts a price list and segments the market through cheap-talk communication. We find that when both seller's and consumers'…
This paper studies strategic communication in the context of social learning. Product reviews are used by consumers to learn product quality, but in order to write a review, a consumer must be convinced to purchase the item first. When…
We consider a scenario in which a database stores sensitive data of users and an analyst wants to estimate statistics of the data. The users may suffer a cost when their data are used in which case they should be compensated. The analyst…
We study sequential social learning with endogenous information acquisition when agents have a taste for nonconformity. Each agent observes predecessors' actions, chooses whether to acquire a private signal (and its precision), and then…
This paper studies ranking policies in a stylized trial-offer marketplace model, in which a single firm offers products and has consumers with heterogeneous preferences. Consumer trials are influenced by past purchases and the ranking of…
We study the effects of data sharing between firms on prices, profits, and consumer welfare. Although indiscriminate sharing of consumer data decreases firm profits due to the subsequent increase in competition, selective sharing can be…
Contextual pricing strategies are prevalent in online retailing, where the seller adjusts prices based on products' attributes and buyers' characteristics. Although such strategies can enhance seller's profits, they raise concerns about…
Sharing systems have facilitated the redistribution of underused resources by providing convenient online marketplaces for individual sellers and buyers. However, sellers in these systems may not fully disclose the information of their…
A decision maker is choosing between an active action (e.g., purchase a house, invest certain stock) and a passive action. The payoff of the active action depends on the buyer's private type and also an unknown state of nature. An…
Recommender systems can automatically recommend users with items that they probably like. The goal of them is to model the user-item interaction by effectively representing the users and items. Existing methods have primarily learned the…
Algorithms increasingly serve as information mediators--from social media feeds and targeted advertising to the increasing ubiquity of LLMs. This engenders a joint process where agents combine private, algorithmically-mediated signals with…
On ad exchange platforms the place for advertisement is sold through different kinds of auctions. However, it is not uncommon the situation where the seller repeatedly encounters only one buyer, thus the posted price auction degenerates…
"Rich-get-richer" and "homophily" are two important phenomena in evolving social networks. "Rich-get-richer" means people with higher followings are more likely to attract new fans, and "homophily" means people prefer to bond with others of…
In continuous-choice settings, consumers decide not only on whether to purchase a product, but also on how much to purchase. Thus, firms optimize a full price schedule rather than a single price point. This paper provides a methodology to…
Aligning large language models (LLMs) with human intentions has become a critical task for safely deploying models in real-world systems. While existing alignment approaches have seen empirical success, theoretically understanding how these…
Homophily, the tendency of individuals who are alike to form ties with one another, is an important concept in the study of social networks. Yet accounting for homophily effects is complicated in the context of bipartite networks where ties…
Data generated by users on digital platforms are a crucial resource for advocates and researchers interested in uncovering digital inequities, auditing algorithms, and understanding human behavior. Yet data access is often restricted. How…
Shilling is the use of artificial bids to make competition appear stronger and push prices upward. We study repeated first-price auctions in which shilling affects feedback but not allocation: the learner wins or loses against the real…
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…