综合经济学
Algorithmic content targeting homogenizes information, with implications for strategic interactions. For example, this increased homogenization was arguably responsible for the run on the Silicon Valley Bank. We argue that existing measures…
The European Union Emissions Trading System is set to substantially increase the effective carbon price faced by airlines. To quantify the impact of this carbon regulation on the European airline industry, we estimate a two-stage model of…
This study investigates the relationship between coin demand, payment innovation, COVID-19, and a coin's purchasing power, particularly in emerging countries like Indonesia. The rapid advancement of payment platforms, combined with high…
Since the beginning of this century the Colombian monetary authority has conducted monetary policy under a strategy based on setting targets for interest rate and inflation, while allowing the exchange rate of the U.S. dollar in domestic…
This study provides a comprehensive strategic analysis of infrastructure energy investment in the context of the global low-carbon transition. Integrating quantitative panel data analysis across 15 countries (2010-2023), detailed case…
The institutionalization of stablecoins has led to a paradigm shift in reserve management, accelerated by the 2025 Green Energy and National Infrastructure Underpinning Stablecoins (GENIUS) Act. This study investigates the…
In traditional banking, repeated deposit-and-lend cycles let a single dollar of reserves support multiple dollars of claims. Decentralized finance produces an analogous structure with tokens. Constructing a Token Graph of 10,200 tokens…
To grow their businesses, entrepreneurs often rely on equity funding. This paper focuses on two elements of entrepreneur-investor equity negotiations: the number of potential investors and the contractual complexity surrounding investor…
Price controls kill the incentive for arbitrage. We prove a Chaos Theorem: under a binding price ceiling, suppliers are indifferent across destinations, so arbitrarily small cost differences can determine the entire allocation. The economy…
How does the endogenous selection of information shape belief formation? In observational settings, individuals only consume information they choose, making it impossible to observe how they would respond to information they actively avoid.…
Data from national accounts show no effect of change in net saving or consumption, in ratio to market-value capital, on change in growth rate of market-value capital (capital acceleration). Thus it appears that capital growth and…
In European day-ahead electricity markets, carbon allowance costs passed through by marginal fossil plants raise consumer expenditure and generate inframarginal rents for non-emitting generators. We propose a settlement modification: when…
A growing literature documents how religious institutions shape behavior through social influence, but less is known about what happens when religious movements gain political power and use the tools of government to advance their agenda.…
Personalized recommendation systems shape much of user choice online, yet their targeted nature makes separating out the value of recommendation and the underlying goods challenging. We build a discrete choice model that embeds…
In many search markets, advance interim contracts include an explicit right to renege, granting one party the option to switch to more attractive matches that emerge later in the search process. This paper studies the design and welfare…
Participants in online experiments often enroll over time, which can compromise sample representativeness due to temporal shifts in covariates. This issue is particularly critical in A/B tests, online controlled experiments extensively used…
Agricultural pricing policies are crucial for farm profitability and food security in India. This study analysed how input and output prices significantly influence the profitability of cereals in Karnataka, with the strategic support…
We conduct the first laboratory school choice experiment in which parents-the relevant decision makers in the field-are the experimental subjects. We compare Deferred Acceptance (DA) with two manipulable but potentially more efficient…
India generates substantial volumes of public agricultural data, yet artificial intelligence (AI) adoption in farming remains limited and largely confined to pilot initiatives. This paper examines this gap by assessing India's agricultural…
This paper proposes a unified theoretical model to identify and test a comprehensive set of probabilistic updating biases within a single framework. The model achieves separate identification by focusing on the updating of belief…