理论经济学
In a digital age where companies face rapid changes in technology, consumer trends, and business environments, there is a critical need for continual revision of the business model in response to disruptive innovation. A pillar of…
We explore the consequences of weakening the notion of incentive compatibility from strategy-proofness to ordinal Bayesian incentive compatibility (OBIC) in the random assignment model. If the common prior of the agents is a uniform prior,…
We introduce a notion of substitutability for correspondences and establish a monotone comparative static result, unifying results such as the inverse isotonicity of M-matrices, Berry, Gandhi and Haile's identification of demand systems,…
A seller is selling a pair of divisible complementary goods to an agent. The agent consumes the goods only in a specific ratio and freely disposes of excess in either goods. The value of the bundle and the ratio are private information of…
We study strategic information transmission in a hierarchical setting where information gets transmitted through a chain of agents up to a decision maker whose action is of importance to every agent. This situation could arise whenever an…
The benefits of using complex network analysis (CNA) to study complex systems, such as an economy, have become increasingly evident in recent years. However, the lack of a single comparative index that encompasses the overall wellness of a…
We consider contest success functions (CSFs) that extract contestants' prize values. In the common-value case, there exists a CSF extractive in any equilibrium. In the observable-private-value case, there exists a CSF extractive in some…
The continuous time model of dynamic asset trading is the central model of modern finance. Because trading cannot in fact take place at every moment of time, it would seem desirable to show that the continuous time model can be viewed as…
This paper studies a dynamic information acquisition model with payoff externalities. Two players can acquire costly information about an unknown state before taking a safe or risky action. Both information and the action taken are private.…
We explore the properties of optimal multi-dimensional auctions in a model where a single object of multiple qualities is sold to several buyers. Using simulations, we test some hypotheses conjectured by Belloni et al. [3] and Kushnir and…
In physics, the wavefunctions of bosonic particles collapse when the system undergoes a Bose-Einstein condensation. In game theory, the strategy of an agent describes the probability to engage in a certain course of action. Strategies are…
The paper describes a funding mechanism called Quadratic Finance (QF) and deploys a bit of calculus to show that within a very clean and simple linear model QF maximizes social utility. They differentiate the social utility function. The…
This paper studies Markov perfect equilibria in a repeated duopoly model where sellers choose algorithms. An algorithm is a mapping from the competitor's price to own price. Once set, algorithms respond quickly. Customers arrive randomly…
We study the ability of a social media platform with a political agenda to influence voting outcomes. Our benchmark is Condorcet's jury theorem, which states that the likelihood of a correct decision under majority voting increases with the…
Sellers in online markets face the challenge of determining the right time to sell in view of uncertain future offers. Classical stopping theory assumes that sellers have full knowledge of the value distributions, and leverage this…
Suppliers of differentiated goods make simultaneous pricing decisions, which are strategically linked. Because of market power, the equilibrium is inefficient. We study how a policymaker should target a budget-balanced tax-and-subsidy…
We present an equilibrium model of politics in which political platforms compete over public opinion. A platform consists of a policy, a coalition of social groups with diverse intrinsic attitudes to policies, and a narrative. We…
Athey and Segal introduced an efficient budget-balanced mechanism for a dynamic stochastic model with quasilinear payoffs and private values, using the solution concept of perfect Bayesian equilibrium. We show that this implementation is…
We study envy-free allocations in a many-to-many matching model with contracts in which agents on one side of the market (doctors) are endowed with substitutable choice functions and agents on the other side of the market (hospitals) are…
Blockchain consensus is a state whereby each node in a network agrees on the current state of the blockchain. Existing protocols achieve consensus via a contest or voting procedure to select one node as a dictator to propose new blocks.…