理论经济学
We study welfare analysis for policy changes when supply and demand behavior are only partially known. We augment the robust approach pioneered by Kang and Vasserman (2025) by incorporating the supply side. We posit intervals of feasible…
Without the assumption of complete, shared awareness, it is necessary to consider communication between agents who may entertain different representations of the world. A syntactic (language-based) approach provides powerful tools to…
We model a market for data where an incumbent and a challenger compete for data from a producer. The incumbent has access to an exclusive data producer, and it uses this exclusive access, together with economies of scope in the aggregation…
This paper studies how communication across experts prior to aggregation by a decision-maker affects the efficiency of forecast combination. When experts exchange information before reporting their forecasts, their signals become correlated…
We propose a new simple procedure called Population-Mean-Based Aggregation (PMBA) that enables a principal to "aggregate" information about an unknown state of the world from agents without understanding the information structure among…
Coordination is an important aspect of innovative contexts, where: the more innovative a course of action, the more uncertain its outcome. To study the interplay of coordination and informational ``complexity'', I embed a beauty-contest…
Regulatory and contractual constraints on individual exposures are standard in insurance and reinsurance markets, but a poorly designed constraint can distort the economic incentives of risk-averse agents. In the unconstrained problem, the…
This paper develops a decomposition methodology for common agency games in which each principal's payoff depends on her own outcome and the agent's type, but not on rivals' outcomes. The key step reduces each principal's best-response…
This paper studies the transmission of productivity shocks in general equilibrium production networks, when firms in different sectors operate under informational rigidity and rely on external debt. Rigidity breaks the Modigliani-Miller…
We study a contest in which $N$ players sequentially draw from a distribution as many times as they want at a fixed cost per draw, with no recall, and the highest accepted value wins a prize. In the unique symmetric equilibrium, the…
As awareness of health and environmental issues grows, the demand for organic food is rising worldwide, yet consumers still struggle to distinguish genuine organic products from conventional ones. This information asymmetry creates…
A seller of a dynamic information service under an information-throughput constraint screens buyers who privately differ in urgency. We characterize the revenue-optimal mechanism: deploy a single preference-aligned belief process; screen…
In strategic games such as the prisoner's dilemma, allowing players to make binding offers of utility transfers before play has been shown to alter incentives and potentially support cooperative outcomes. These preplay exchange mechanisms…
We study delegated Bayesian persuasion: a principal incentivizes an intermediary to design information via outcome-contingent transfers, while the intermediary privately chooses the experiment subject to convex costs. We characterize…
In a satisficing equilibrium each agent $i$ plays one of her top $k_i$ actions in response to the actions of the other agents. Our concept unifies models of bounded rationality and yields predictions that differ from canonical solution…
We consider the problem of designing prices for public transport where payment enforcing is done through random inspection of passengers' tickets as opposed to physically blocking their access. Passengers are fully strategic such that they…
The First Fundamental Theorem of Welfare Economics assumes that welfare-bearing agents are autonomous and implicitly relies on a binary distinction between autonomy and instrumentality. Welfare subjects are those who have autonomy and…
We analyze the effects of enforcing vs. exempting access ISP from net neutrality regulations when platforms are present and operate two-sided pricing in their business models. This study is conducted in a scenario where users and Content…
Systematically biased forecasts are typically interpreted as evidence of forecasters' irrationality and/or asymmetric loss. In this paper we propose an alternative explanation: when forecasts inform policy decisions, and the resulting…
We provide an original analysis of historical documents to describe the assignment procedures used to allocate entry-level civil service jobs in China from the tenth to the early twentieth century. The procedures tried to take different…