理论经济学
The Dial-a-Ride Problem (DARP) is an optimization problem that involves determining optimal routes and schedules for several vehicles to pick up and deliver items at minimum cost. Motivated by real-world carpooling and crowdshipping…
We study mechanism design settings where the planner has an interest in agents receiving noisy signals about the types of other agents. We show that additional information about other agents can eliminate undesired equilibria, making it…
An informed seller designs a dynamic mechanism to sell an experience good. The seller has partial information about the product match, which affects the buyer's private consumption experience. We characterize equilibrium mechanisms of this…
A distortion function, which captures the payoff gap between a player's actual payoff and her true payoff, is introduced and used to analyze games. In our proposed framework, we argue that players' actual payoff functions should be used to…
A player's payoff is modeled as consisting of two parts: a rational-value part and a distortion-value part. It is argued that the (total) payoff function should be used to explain and predict the behaviors of the players, while the rational…
This paper examines the Random Utility Model (RUM) in repeated stochastic choice settings where decision-makers lack full information about payoffs. We propose a gradient-based learning algorithm that embeds RUM into an online…
Between 1957-1985, Chinese mathematician Loo-Keng Hua pioneered economic optimization theory through three key contributions: establishing economic stability's fundamental theorem, proving the uniqueness of equilibrium solutions in economic…
Mean field equilibrium (MFE) has emerged as a computationally tractable solution concept for large dynamic games. However, computing MFE remains challenging due to nonlinearities and the absence of contraction properties, limiting its…
In the times we live in today, humanity faces unprecedented environmental challenges. The emergence of artificial intelligence (AI) has opened new doors in our collective efforts to address our planet's pressing problems; however, many have…
I study statistical discrimination driven by verifiable beliefs, such as those generated by machine learning, rather than by humans. When beliefs are verifiable, interventions against statistical discrimination can move beyond simple,…
In the object reallocation problem, achieving Pareto-efficiency is desirable, but may be too demanding for implementation purposes. In contrast, pair-efficiency, which is the minimal efficiency requirement, is more suitable. Despite being a…
We study an information design problem with continuous state and discrete signal space. Under convex and S-shaped value functions, the optimal information structure is interval-partitional and exhibits a dual expectations property: each…
An analyst observes the frequency with which a decision maker (DM) takes actions, but not the frequency conditional on payoff-relevant states. We ask when the analyst can rationalize the DM's choices as if the DM first learns something…
We introduce a model of content moderation for sale, where a platform can channel attention in two ways: direct steering that makes content visible to consumers and certification that controls what consumers know about the content. The…
Alice wishes to reveal the state $X$ to Bob, if he knows some other information $Y$ also known to her. If Bob does not, she wishes to reveal nothing about $X$ at all. When can Alice accomplish this? We provide a simple necessary and…
A platform charges a producer for disclosing quality evidence to consumers before trade. It aims to maximize its revenue guarantee across potentially multiple equilibria which arise from the interdependence of producer purchase decisions…
In markets where algorithmic data processing is increasingly prevalent, recommendation algorithms can substantially affect trade and welfare. We consider a setting in which an algorithm recommends a product based on its value to the buyer…
We analyze the risks to bank intermediation following the introduction of a central bank digital currency (CBDC) competing with commercial bank deposits as households' source of liquidity. We revisit the result in the literature regarding…
The Deferred Acceptance (DA) algorithm is stable and strategy-proof, but can produce outcomes that are Pareto-inefficient for students, and thus several alternative mechanisms have been proposed to correct this inefficiency. However, we…
Persistent economic competition is often justified as a mechanism of innovation, efficiency, and welfare maximization. Yet empirical evidence across disciplines reveals that competition systematically generates fragility, inequality, and…