理论经济学

Economists often estimate models using data from a particular domain, e.g. estimating risk preferences in a particular subject pool or for a specific class of lotteries. Whether a model's predictions extrapolate well across domains depends…

Each period, two players bargain over a unit of surplus. Each player chooses between remaining flexible and committing to a take-it-or-leave-it offer at a cost. If players' committed demands are incompatible, then the current-period surplus…

In this working paper, I developed a suite of macroeconomic models that shed light on the intricate relationship between economic development, health, and fertility. These innovative models conceptualize health as an intermediate good,…

This paper studies how household heterogeneity affects the level and cyclical behavior of the optimal carbon tax in a real economy. We demonstrate that an equity-efficiency trade-off arises due to income inequality and heterogeneity in the…

We prove the 2-player, generic extensive-form case of the conjecture of Govindan and Wilson (1997a,b) and Hauk and Hurkens (2002) stating that an equilibrium component is essential in every equivalent game if and only if the index of the…

Modern macroeconomic models, particularly those grounded in Rational Expectation Dynamic Stochastic General Equilibrium (DSGE), operate under the assumption of fully rational decision-making. This paper examines the impact of behavioral…

We characterize regularity (Block & Marschak, 1960) within a novel stochastic model: the General Threshold Luce model [GTLM]. We apply our results to study choice overload, identified by regularity violations that impose a welfare cost on…

In economic settings such as learning, social behavior, and financial contagion, agents interact through interdependent networks. This paper examines how a decision maker (DM) can design an optimal intervention strategy under network…

We investigate the dynamics of Q-learning in a class of generalized Braess paradox games. These games represent an important class of network routing games where the associated stage-game Nash equilibria do not constitute social optima. We…

This paper studies a war of attrition game in the setting of public good provision that combines three elements: (i) multiple players, (ii) incomplete information, and (iii) ex-ante asymmetry. In the unique equilibrium, asymmetry leads to a…

In the problem of fully allocating a social endowment of perfectly divisible commodities among a group of agents with multidimensional single-peaked preferences, we study strategy-proof rules that are not Pareto-dominated by other…

Dee Hock, the founder of Visa, coined the term 'chaordic' to describe simultaneously chaotic and ordered systems. Based on his reasoning, we introduce the Theory of Chaordic Economics to explain how economic systems are transformed by two…

This paper studies multilateral matching in which agents may negotiate contracts within any coalition. We assume scale economies such that an agent substitutes some existing contracts with new ones only if the latter involve a set of…

We develop a dynamic model of the Bitcoin market where users set fees themselves and miners decide whether to operate and whom to validate based on those fees. Our analysis reveals how, in equilibrium, users adjust their bids in response to…

We discover a fundamental and previously unrecognized structure within the class of additively separable social welfare functions that makes it straightforward to fully characterize and elicit the social preferences of an inequality-averse…

In allocating objects via lotteries, it is common to consider ordinal rules that rely solely on how agents rank degenerate lotteries. While ordinality is often imposed due to cognitive or informational constraints, we provide another…

We consider a decision maker who is unaware of objects to be sampled and thus cannot form beliefs about the occurrence of particular objects. Ex ante she can form beliefs about the occurrence of novelty and the frequencies of yet to be…

This paper examines the spatial agglomeration of workers and income in a continuous space-time framework. Local markets feature spatial spillovers and both exogenous and endogenous amenities. Workers relocate to maximise their instantaneous…

We provide a formal framework accounting for a widespread idea in the theory of economic design: analytically established incompatibilities between given axioms should be qualified by the likelihood of their violation. We define the degree…

Against the macro-background of "carbon peaking and carbon neutrality" goals, eco-environment protection regulations are increasingly stricter. Facing high government regulatory risks and frequent environment lawsuits, corporate…