理论经济学
A principal must decide between two options. Which one she prefers depends on the private information of two agents. One agent always prefers the first option; the other always prefers the second. Transfers are infeasible. One application…
Two dynamic game forms are said to be behaviorally equivalent if they share the "same" profiles of structurally reduced strategies (Battigalli et al., 2020). In the context of dynamic implementation, behaviorally equivalent game forms are…
We prove that supply correspondences are characterized by two properties: the law of supply and being homogeneous of degree zero.
We study joint implementation of reservation and de-reservation policies in India that has been enforcing a comprehensive affirmative action since 1950. The landmark judgement of the Supreme Court of India in 2008 mandated that whenever OBC…
We generalize the stochastic revealed preference methodology of McFadden and Richter (1990) for finite choice sets to settings with limited consideration. Our approach is nonparametric and requires partial choice set variation. We impose a…
A proposed measure of voting power should satisfy two conditions to be plausible: first, it must be conceptually justified, capturing the intuitive meaning of what voting power is; second, it must satisfy reasonable postulates. This paper…
The literature on centralized matching markets often assumes that a true preference of each player is known to herself and fixed, but empirical evidence casts doubt on its plausibility. To circumvent the problem, we consider evolutionary…
We consider fair allocation of a set $M$ of indivisible goods to $n$ equally-entitled agents, with no monetary transfers. Every agent $i$ has a valuation $v_i$ from some given class of valuation functions. A share $s$ is a function that…
In social choice theory, Sen's value restriction and Pattanaik's not-strict value restriction are both attractive conditions for testing social preference transitivity and/or non-empty social choice set existence. This article introduces a…
This paper studies two-sided many-to-one matching in which firms have complementary preferences. We show that stable matchings exist under a balancedness condition that rules out a specific type of odd-length cycles formed by firms'…
We study how governments promote social welfare through the design of contracting environments. We model the regulation of contracting as default delegation: the government chooses a delegation set of contract terms it is willing to…
We consider stopping problems in which a decision maker (DM) faces an unknown state of nature and decides sequentially whether to stop and take an irreversible action; pay a fee and obtain additional information; or wait without acquiring…
I study a game of strategic exploration with private payoffs and public actions in a Bayesian bandit setting. In particular, I look at cascade equilibria, in which agents switch over time from the risky action to the riskless action only…
The notion of fault tolerant Nash equilibria has been introduced as a way of studying the robustness of Nash equilibria. Under this notion, a fixed number of players are allowed to exhibit faulty behavior in which they may deviate…
We study the diffusion of a true and a false message (the rumor) in a social network. Upon hearing a message, individuals may believe it, disbelieve it, or debunk it through costly verification. Whenever the truth survives in steady state,…
When sample data are governed by an unknown sequence of independent but possibly non-identical distributions, the data-generating process (DGP) in general cannot be perfectly identified from the data. For making decisions facing such…
I construct a novel random double auction as a robust bilateral trading mechanism for a profit-maximizing intermediary who facilitates trade between a buyer and a seller. It works as follows. The intermediary publicly commits to charging a…
A single unit of a good is sold to one of two bidders. Each bidder has either a high prior valuation or a low prior valuation for the good. Their prior valuations are independently and identically distributed. Each bidder may observe an…
We propose a new notion of credibility for Bayesian persuasion problems. A disclosure policy is credible if the sender cannot profit from tampering with her messages while keeping the message distribution unchanged. We show that the…
I study the design of auctions in which the auctioneer is assumed to have information only about the marginal distribution of a generic bidder's valuation, but does not know the correlation structure of the joint distribution of bidders'…