理论经济学
This paper analyzes repeated version of the bilateral trade model where the independent payoff relevant private information of the buyer and the seller is correlated across time. Using this setup it makes the following five contributions.…
Most governments employ a set of quasi-standard measures to fight COVID-19 including wearing masks, social distancing, virus testing, contact tracing, and vaccination. However, combining these measures into an efficient holistic pandemic…
In this note, I explore the implications of informational robustness under the assumption of common belief in rationality. That is, predictions for incomplete-information games which are valid across all possible information structures.…
We provide a complete characterization of optimal extinction in a two-sector model of economic growth through three results, surprising in both their simplicity and intricacy. (i) When the discount factor is below a threshold identified by…
We provide the first behavioral characterization of nested logit, a foundational and widely applied discrete choice model, through the introduction of a non-parametric version of nested logit that we call Nested Stochastic Choice (NSC). NSC…
We propose a stochastic model of opinion exchange in networks. A finite set of agents is organized in a fixed network structure. There is a binary state of the world and each agent receives a private signal on the state. We model beliefs as…
This agent-based model contributes to a theory of corporate culture in which company performance and employees' behaviour result from the interaction between financial incentives, motivational factors and endogenous social norms. Employees'…
We study information design settings where the designer controls information about a state, and there are multiple agents interacting in a game who are privately informed about their types. Each agent's utility depends on all agents' types…
This paper presents six theorems and ten propositions that can be read as deconstructing and integrating the continuity postulate under the rubric of pioneering work of Eilenberg, Wold, von Neumann-Morgenstern, Herstein-Milnor and Debreu.…
We study the migrants' assimilation, which we conceptualize as forming human capital productive on the labor market of a developed host country, and we link the observed frequent lack of assimilation with the relative deprivation that the…
Social decision schemes (SDSs) map the preferences of a group of voters over some set of $m$ alternatives to a probability distribution over the alternatives. A seminal characterization of strategyproof SDSs by Gibbard implies that there…
In cooperative games with transferable utilities, the Shapley value is an extreme case of marginalism while the Equal Division rule is an extreme case of egalitarianism. The Shapley value does not assign anything to the non-productive…
This paper studies matching markets in the presence of middlemen. In our framework, a buyer-seller pair may either trade directly or use the services of a middleman; and a middleman may serve multiple buyer-seller pairs. Direct trade…
We study how loyalty behavior of customers and differing costs to produce undifferentiated products by firms can influence market outcomes. In prior works that study such markets, firm costs have generally been assumed negligible or equal,…
The basic concepts of the differential geometry are shortly reviewed and applied to the study of VES production function in the spirit of the works of V\^ilcu and collaborators. A similar characterization is given for a more general…
When making decisions under risk, people often exhibit behaviors that classical economic theories cannot explain. Newer models that attempt to account for these irrational behaviors often lack neuroscience bases and require the introduction…
We propose a model of incomplete \textit{twofold multiprior preferences}, in which an act $f$ is ranked above an act $g$ only when $f$ provides higher utility in a worst-case scenario than what $g$ provides in a best-case scenario. The…
The paper focuses on the bribery network emphasizing harassment bribery. A bribery network ends with the police officer whose utility from the bribe is positive and the approving officer in the network. The persistent nature of corruption…
We introduce the component-wise egalitarian Myerson value for network games. This new value being a convex combination of the Myerson value and the component-wise equal division rule is a player-based allocation rule. In network games under…
We study the welfare consequences of merging Shapley--Scarf markets. Market integration can lead to large welfare losses and make the vast majority of agents worse-off, but is on average welfare-enhancing and makes all agents better off…