理论经济学
The observed proportionality between nominal prices and average embodied energies cannot be interpreted with conventional economic theory. A model is presented that places energy transfers as the focal point of scarcity based on the idea…
Although the integration of two-sided matching markets using stable mechanisms generates expected gains from integration, I show that there are worst-case scenarios in which these are negative. The losses from integration can be large…
People employ their knowledge to recognize things. This paper is concerned with how to measure people's knowledge for recognition and how it changes. The discussion is based on three assumptions. Firstly, we construct two evolution process…
We formalize the argument that political disagreements can be traced to a "clash of narratives". Drawing on the "Bayesian Networks" literature, we model a narrative as a causal model that maps actions into consequences, weaving a selection…
We characterize three interrelated concepts in epistemic game theory: permissibility, proper rationalizability, and iterated admissibility. We define the lexicographic epistemic model for a game with incomplete information. Based on it, we…
This paper corrects some mathematical errors in Holmstr\"om (1999) and clarifies the assumptions that are sufficient for the results of Holmstr\"om (1999). The results remain qualitatively the same.
Healthy nutrition promotions and regulations have long been regarded as a tool for increasing social welfare. One of the avenues taken in the past decade is sugar consumption regulation by introducing a sugar tax. Such a tax increases the…
I consider the monopolistic pricing of informational good. A buyer's willingness to pay for information is from inferring the unknown payoffs of actions in decision making. A monopolistic seller and the buyer each observes a private signal…
A "statistician" takes an action on behalf of an agent, based on the agent's self-reported personal data and a sample involving other people. The action that he takes is an estimated function of the agent's report. The estimation procedure…
Under the same assumptions made by Mas-Colell et al. (1995), I develop a short, simple, and complete proof of existence of equilibrium prices based on excess demand functions. The result is obtained by applying the Brouwer fixed point…
This paper considers the core of a competitive market economy with an endogenous social division of labour. The theory is founded on the notion of a "consumer-producer", who consumes as well as produces commodities. First, we show that the…
We study a repeated game with payoff externalities and observable actions where two players receive information over time about an underlying payoff-relevant state, and strategically coordinate their actions. Players learn about the true…
News utility is the idea that the utility of an agent depends on changes in her beliefs over consumption and money. We introduce news utility into otherwise classical static Bayesian mechanism design models. We show that a key role is…
Crowdfunding is gradually becoming a modern marketing pattern. By noting that the success of crowdfunding depends on network externalities, our research aims to utilize them to provide an applicable referral mechanism in a…
We establish that statistical discrimination is possible if and only if it is impossible to uniquely identify the signal structure observed by an employer from a realized empirical distribution of skills. The impossibility of statistical…
Dynamic Random Subjective Expected Utility (DR-SEU) allows to model choice data observed from an agent or a population of agents whose beliefs about objective payoff-relevant states and tastes can both evolve stochastically. Our observable,…
An experimenter seeks to learn a subject's preference relation. The experimenter produces pairs of alternatives. For each pair, the subject is asked to choose. We argue that, in general, large but finite data do not give close…
The purpose is to compare the perfect Stochastic Return (SR) model like Islamic banks to the Fixed Return (FR) model as in conventional banks by measuring up their impacts at the macroeconomic level. We prove that if the optimal choice of…
In this paper, we build a computational model for the analysis of international wheat spot price formation, its dynamics and the dynamics of internationally exchanged quantities. The model has been calibrated using FAOSTAT data to evaluate…