理论经济学
When decision makers evaluate a sequence of rewards, they may pay more attention to larger rewards and, given attention is limited, less attention to smaller rewards. They may also become less attentive to each reward when attention is…
In 1962, Gale and Shapley \cite{GS} introduced the concept of stable marriages and proved their existence. Since then, the statement of the stability problem has been highly generalized. And a lot of proofs has emerged for the existence in…
The Deferred Acceptance (DA) mechanism can generate inefficient placements. Although Pareto-dominant mechanisms exist, it remains unclear which and how many students could improve. We characterize the set of unimprovable students and show…
Empirical welfare analyses often impose stringent parametric assumptions on individuals' preferences and neglect unobserved preference heterogeneity. We develop a framework to conduct individual and social welfare analysis for discrete…
This paper studies the Footloose Entrepreneur model in new economic geography in continuous space. In an appropriate function space, the model is formulated as an initial value problem for an infinite-dimensional ordinary differential…
Financial crises often occur without warning, yet markets leading up to these events display increasing volatility and complex interdependencies across multiple sectors. This study proposes a novel approach to predicting market crises by…
This paper presents a novel staking coopetition design aimed at incentivizing decentralization and continuous growth of economic security within a proof-of-stake system. Staking rewards follow a nonlinear mapping relative to stake size.…
In this paper, we study the continuity of expected utility functions, and derive a necessary and sufficient condition for a weak order on the space of simple probabilities to have a continuous expected utility function. We also verify that…
In his book entitled ''A System of Logic, Ratiocinative and Inductive'' (1843), John Stuart Mill proposed principles of inductive reasoning in the form of five canons. To date, these canons are classic methods for causal reasoning: they are…
Production networks, dynamic systems of firms linked through input-output relationships, transmit microeconomic shocks into macroeconomic fluctuations. While prior studies often assume static networks, real-world economies feature…
For a many-to-one market where firms are endowed with path-independent choice functions, based on the Aizerman-Malishevski decomposition, we define an associated one-to-one market. Given that the usual notion of stability for a one-to-one…
As the digital economy grows increasingly intangible, traditional productivity measures struggle to capture the true economic impact of artificial intelligence (AI). AI systems capable of cognitive work significantly enhance productivity,…
We introduce a new microeconomics foundation of a specific type of competitive market equilibrium that can be used to study several markets with information asymmetry such as commodity market, credit market, and insurance market.
We study dynamic decentralized two-sided matching in which players may encounter unanticipated experiences. As they become aware of these experiences, they may change their preferences over players on the other side of the market.…
This paper explores price competition with exogenous product differentiation in a spatial model similar to that of Nakagawa (2023). Nakagawa examines product differentiation within the framework of Varian (1980). Nakagawa integrates…
We study undominated mechanisms with transfers for regulating a monopolist who privately observes the marginal cost of production. We show that in any undominated mechanism, there is a quantity floor, which depends only on the primitives,…
We study distributed knowledge, which is what privately informed agents come to know by communicating freely with one another and sharing everything they know. Knowledge is not necessarily partitional: agents may be boundedly rational and…
We train two neural networks adversarially to play static games. At each iteration, a row and column network observe a new random bimatrix game and output individual mixed strategies. The parameters of each network are independently updated…
We analyze how equilibrium housing prices are determined in the process of economic development within an overlapping generations model with perfect housing and rental markets. We characterize the rent growth rate in all equilibria. The…
In this paper, we consider the dynamic oscillation in the Cournot oligopoly model, which involves multiple firms producing homogeneous products. To explore the oscillation under the updates of best response strategies, we focus on the…