理论经济学

School choice is of great importance both in theory and practice. This paper studies the (student-optimal) top trading cycles mechanism (TTCM) in an axiomatic way. We introduce two new axioms: MBG (mutual best group)-quota-rationality and…

For a set-valued function $F$ on a compact subset $W$ of a manifold, spanning is a topological property that implies that $F(x) \ne 0$ for interior points $x$ of $W$. A myopic equilibrium applies when for each action there is a payoff whose…

Kakade, Kearns, and Ortiz (KKO) introduce a graph-theoretic generalization of the classic Arrow--Debreu (AD) exchange economy. Despite its appeal as a networked version of AD, we argue that the KKO model is too local, in the sense that…

The analogies between economics and classical mechanics can be extended from constrained optimization to constrained dynamics by formalizing economic (constraint) forces and economic power in analogy to physical (constraint) forces in…

The COVID-19 pandemic has forced changes in production and especially in human interaction, with "social distancing" a standard prescription for slowing transmission of the disease. This paper examines the economic effects of social…

This paper investigates the reality and accuracy of evolutionary game dynamics theory in human game behavior experiments. In classical game theory, the central concept is Nash equilibrium, which reality and accuracy has been well known…

The paper presents a model of two-speed evolution in which the payoffs in the population game (or, alternatively, the individual preferences) slowly adjust to changes in the aggregate behavior of the population. The model investigates how,…

We consider an observational learning model with exogenous public payoff shock. We show that confounded learning doesn't arise for almost all private signals and almost all shocks, even if players have sufficiently divergent preferences.

Army cadets obtain occupations through a centralized process. Three objectives -- increasing retention, aligning talent, and enhancing trust -- have guided reforms to this process since 2006. West Point's mechanism for the Class of 2020…

This paper proposes a theory of pricing premised upon the assumptions that customers dislike unfair prices---those marked up steeply over cost---and that firms take these concerns into account when setting prices. Since they do not observe…

Income inequality is known to have negative impacts on an economic system, thus has been debated for a hundred years past or more. Numerous ideas have been proposed to quantify income inequality, and the Gini coefficient is a prevalent…

This paper introduces Gm, which is a category for extensive-form games. It also provides some applications. The category's objects are games, which are understood to be sets of nodes which have been endowed with edges, information sets,…

All economies require physical resource consumption to grow and maintain their structure. The modern economy is additionally characterized by private debt. The Human and Resources with MONEY (HARMONEY) economic growth model links these…

We introduce and study a model of long-run convention formation for rare interactions. Players in this model form beliefs by observing a recency-weighted sample of past interactions, to which they noisily best respond. We propose a…

We initiate the work towards a comprehensive picture of the smoothed satisfaction of voting axioms, to provide a finer and more realistic foundation for comparing voting rules. We adopt the smoothed social choice framework, where an…

We study the implications of endogenous pricing for learning and welfare in the classic herding model . When prices are determined exogenously, it is known that learning occurs if and only if signals are unbounded. By contrast, we show that…

The question of "Justice" still divides social research and moral philosophy. Several Theories of Justice and conceptual approaches compete here, and distributive justice remains a major societal controversy. From an evolutionary point of…

We propose and develop an algebraic approach to revealed preference. Our approach dispenses with non algebraic structure, such as topological assumptions. We provide algebraic axioms of revealed preference that subsume previous, classical…

We study rotation programs within the standard implementation frame-work under complete information. A rotation program is a myopic stableset whose states are arranged circularly, and agents can effectively moveonly between two consecutive…

The core is a traditional and useful solution concept in economic theory. But in discrete exchange economies without transfers, when endowments are complex, the core may be empty. This motivates Balbuzanov and Kotowski (2019) to interpret…