理论经济学
We show that in delegation problems, a principal benefits from belief misalignment vis-\`a-vis an agent when the latter can flexibly acquire costly information. The agent optimally succumbs to confirmatory learning, leading him to favor the…
There exists a preference relation on infinite utility streams that does not discriminate between different periods, satisfies the Pareto criterion, and so that almost all pairs of utility streams are strictly comparable. Such a preference…
This study develops a conceptual simulation model for a tokenized recycling incentive system that integrates blockchain infrastructure, market-driven pricing, behavioral economics, and carbon credit mechanisms. The model aims to address the…
We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call \textit{hope-and-prepare preferences}. An act is considered more desirable than an other act when, and only when, both an optimistic…
We propose an extensive-form solution concept, with players that neglect information from hypothetical events, but make inferences from observed events. Our concept modifies cursed equilibrium (Eyster and Rabin, 2005), and allows that…
When a firm hires a worker, adding the new hire to payroll is costly. These costs reduce the amount of resources that can go to recruiting workers and amplify how unemployment responds to changes in productivity. Workers also incur up-front…
We study a variation of the price competition model a la Bertrand, in which firms must offer menus of contracts that obey monotonicity constraints, e.g., wages that rise with worker productivity to comport with equal pay legislation. While…
I examine how a decision maker can incentivize an expert to reveal novel actions, expanding the set from which he can choose, without making ex-ante commitments regarding as-of-yet unrevealed actions. The outcomes achievable by any…
We examine a green transition policy involving a tax on brown goods in an economy where preferences for green consumption consist of a constant intrinsic individual component and an evolving social component. We analyse equilibrium dynamics…
The all-pay auction, a classic competitive model, is widely applied in scenarios such as political elections, sports competitions, and research and development, where all participants pay their bids regardless of winning or losing. However,…
In statistical modeling, prediction and explanation are two fundamental objectives. When the primary goal is forecasting, it is important to account for the inherent uncertainty associated with estimating unknown outcomes. Traditionally,…
We characterize robust tournament design -- the prize scheme that maximizes the lowest effort in a rank-order tournament where the distribution of noise is unknown, except for an upper bound, $\bar{H}$, on its Shannon entropy. The robust…
Orthogonal delay-Doppler division multiplexing (ODDM) modulation has recently gained significant attention as a promising candidate to promote the communication reliability in high-mobility environments. Low complexity signal detection is…
We study a model of competitive information design in an oligopoly search market with heterogeneous consumer search costs. A unique class of equilibria -- upper-censorship equilibria -- emerges under intense competition. In equilibrium,…
This paper studies spatial patterns formed by proximate population migration driven by real wage gradients and other idiosyncratic factors. The model consists of a tractable core-periphery model incorporating a quasi-linear log utility…
Strategic models of legislative bargaining predict that proposers can extract high shares of economic surplus by identifying and exploiting weak coalition partners. However, strength and weakness can be difficult to assess even with…
We introduce a dynamic model in which a developer incrementally improves a product of uncertain quality over time, with the quality evolving as a controlled Brownian motion. At each moment in time, the developer can continue exploring by…
Reserve prices are widely used in practice. The problem of designing revenue-optimal auctions based on reserve price has drawn much attention in the auction design community. Although they have been extensively studied, most developments…
In many settings -- like market research and social choice -- people may be presented with unfamiliar options. Classical mechanisms may perform poorly because they fail to incentivize people to learn about these options, or worse, encourage…
We study reputation formation where a long-run player repeatedly observes private signals and takes actions. Short-run players observe the long-run player's past actions but not her past signals. The long-run player can thus develop a…