理论经济学
The International Air Transport Association (IATA) states that the revenue from interline tickets must be shared among the different airlines according to a weighted system. We analyze this problem following an axiomatic approach, and our…
We study Sybil manipulation in BRACE, a competitive equilibrium mechanism for combinatorial exchanges, by treating identity creation as a finite perturbation of the empirical distribution of reported types. Under standard regularity…
If agents engage in motivated reasoning, how does that affect the aggregation of information in society? We study the effects of motivated reasoning in two canonical settings - the Condorcet jury theorem (CJT), and the sequential social…
In a strategy-proof mechanism, the influence of an agent may be measured as the set of outcomes an agent can bring about by varying her (reported) type. More specifically, we refer to an agent's influence on her own relevant outcomes as her…
This paper develops a prior-free model of data-driven decision making in which the decision maker observes the entire distribution of signals generated by a known experiment under an unknown distribution of the state variable and evaluates…
We investigate the management of information provision to maximize user engagement. A principal sequentially reveals signals to an agent who has a limited amount of information processing capacity and can choose to exit at any time. We…
Risk aversion and insurance are two prominent and interconnected concepts in economics and finance. To explore their fundamental connection, we introduce risk-insurance parity, which associates various classes of insurance contracts with…
How should a buyer design procurement mechanisms when suppliers' costs are unknown, and the buyer does not have a prior belief? We demonstrate that simple mechanisms - that share a constant fraction of the buyer utility with the seller -…
We study procurement design when the buyer is uncertain about both the value of the good and the seller's cost. The buyer has a conjectured model but does not fully trust it. She first identifies mechanisms that maximize her worst-case…
When customers must visit a seller to learn the valuation of its product, sellers potentially benefit from charging a lower price on the first visit and a higher price when a buyer returns. Armstrong and Zhou (2016) show that such price…
We study the impact of the order flow auction (OFA) in the context of the proposer-builder separation (PBS) mechanism in blockchains through a game-theoretic perspective. The OFA is designed to improve user welfare by redistributing maximal…
We study optimal auction design in an independent private values environment where bidders can endogenously -- but at a cost -- improve information about their own valuations. The optimal mechanism is two-stage: at stage-1 bidders register…
Wage dispersion and job-to-job mobility are central features of modern labour markets, yet canonical equilibrium search models with exogenous job-offer ladders struggle to jointly account for these facts and the magnitude of frictional wage…
We develop a Schumpeterian quality-ladder spatial model in which innovation arrivals depend on regional knowledge spillovers. A parsimonious reduced-form diffusion mechanism induces the convergence of regions' average distance to the global…
In choice under risk, there is a standard notion of 'less risk-averse than', due to Yaari (1969). In the theory of comparative statics, the single-crossing property is satisfied by all weighted averages of a family of single-crossing…
In this paper, to determine the financial risks faced by an industrial company, assessing the relative importance of these risks and identifying the years most exposed to financial risk using modern multi-criteria decision-making…
We study games with incomplete information and characterize when a feasible outcome is Pareto efficient. Outcomes with excessive randomization are inefficient: generically, the total number of action profiles across states must be strictly…
We study the structure of the set of priority-neutral matchings. These matchings, introduced by Reny (AER, 2022), generalize stable matchings by allowing for priority violations in a principled way that enables Pareto-improvements to stable…
The rapid advancement of generative AI is poised to disrupt the creative industry. Amidst the immense excitement for this new technology, its future development and applications in the creative industry hinge crucially upon two copyright…
How best to incentivise prompt disclosure? We study this question in a general model in which a technological breakthrough occurs at an uncertain time and is privately observed by an agent, and a principal must incentivise disclosure via…