理论经济学

This paper models firm-to-firm trade in a production network as a set of double auctions. Firms have multilateral market power, namely, can affect prices in both input and output markets. The size and division of surplus are endogenous and…

We study an information acquisition problem in which an informed trader acquires costly information prior to trading in the Kyle equilibrium. The cost of information acquisition is represented by an entropy cost. Regardless of the prior…

Extreme economic outcomes are not shaped by tails alone. They are also shaped by unequal access to opportunities. This paper develops a theory of heterogeneous extremes by taking the distribution of opportunity access as the object of…

We characterize optimal monetary policy when policy endogenously moves risk premia through redistribution across agents who differ in their willingness to bear risk. The analytical core is Marginal Risk Capacity, the covariance of monetary…

If AI displaces human workers faster than the economy can reabsorb them, it risks eroding the very consumer demand firms depend on. We show that knowing this is not enough for firms to stop it. In a competitive task-based model, demand…

We study optimal dynamic persuasion in a bandit experimentation model where a principal, unlike in standard settings, has a single-peaked preference over the agent's stopping time. This non-monotonic preference arises because maximizing the…

We study how delegating pricing to large language models (LLMs) can facilitate collusion in a duopoly when both sellers rely on the same pre-trained model. The LLM is characterized by (i) a propensity parameter capturing its internal bias…

This paper incorporates fixed capital into a multi-sectoral input-output model to reassess the Okishio Theorem. We establish the existence of a critical wage elasticity strictly less than unity, beyond which cost-reducing technical progress…

This paper investigates a novel behavioral feature of recursive preferences: aversion to risks that persist over time, or simply \textit{correlation aversion}. Greater persistence provides information about future consumption but reduces…

Historical episodes such as the World War I "live-and-let-live" system and the Christmas Truce of 1914 demonstrate that opposing military units can establish spontaneous, local cooperation even in extreme conflict environments. Such…

An agent chooses an action based on her private information and a recommendation from an informed but potentially misaligned adviser. With a known probability, the adviser truthfully reports his signal; with the remaining probability, he…

We use valid inequalities (cuts) of the binary integer program for winner determination in a combinatorial auction (CA) as "artificial items" that can be interpreted intuitively and priced to generate Artificial Walrasian Equilibria. We…

In many choice settings self-punishment affects individual taste, by inducing the decision maker (DM) to disregard some of the best options. In these circumstances the DM may not maximize her true preference, but some harmful distortion of…

In order to identify expertise, forecasters should not be tested by their calibration score, which can always be made arbitrarily small, but rather by their Brier score. The Brier score is the sum of the calibration score and the refinement…

We study a public decision problem in which a finite society selects a public-good level from a closed interval. Agents either have single-peaked preferences or are completely indifferent over the interval; the latter capture abstention or…

High-stakes auctions are often preceded by nonbinding communication between bidders and the seller. Motivated by these practices, this paper examines a two-period model in which two bidders send private cheap talk messages to the seller…

Ranking individuals based on their performance in different coalitions is a problem emerging in various domains (teams sports, scientific evaluation, argumentation, etc.). Often, for practical reasons, the number of comparable coalitions is…

We present a new method for computation of the index of completely mixed equilibria in finite games, based on the work of Eisenbud et al.(1977). We apply this method to solving two questions about the relation of the index of equilibria and…

Consider a university assigning students to courses and dorms. While many mechanisms are available, they each have their own drawbacks. Running serial dictatorship once for all goods is highly unfair, but running serial dictatorship…

This paper studies strategic communication in the context of social learning. Product reviews are used by consumers to learn product quality, but in order to write a review, a consumer must be convinced to purchase the item first. When…