理论经济学
Our work explores fusions, the multidimensional counterparts of mean-preserving contractions and their extreme and exposed points. We reveal an elegant geometric/combinatorial structure for these objects. Of particular note is the…
When evaluating policies that affect future generations, the most commonly used criterion is the discounted utilitarian rule. However, in terms of intergenerational fairness, it is difficult to justify prioritizing the current generation…
Although "climate litigation" is not an indigenous term in China, localizing it is essential to support the development of an independent environmental legal knowledge system in China. Rooted in China's judicial tradition, which emphasizes…
After the Asian Infrastructure Investment Bank (AIIB) revised its Environmental and Social Framework, it has committed to certain climate-related objectives, yet an independent climate accountability mechanism has not been established. The…
We consider the problem where a set of individuals has to classify $m$ objects into $p$ categories by aggregating the individual classifications, and no category can be left empty. An aggregator satisfies \emph{Expertise} if individuals are…
We study the optimal placement of advertisements for interactive platforms like conversational AI assistants. Importantly, conversations add a feature absent in canonical search markets -- time. The evolution of a conversation is…
We consider the problem where a set of individuals has to classify $m$ objects into $p$ categories and does so by aggregating the individual classifications. We show that if $m\geq 3$, $m\geq p\geq 2$, and classifications are fuzzy, that…
We revisit the classic job-market signaling model of \cite{spence1973job}, introducing profit-seeking schools as intermediaries that design the mapping from candidates' efforts to job-market signals. Each school commits to an attendance fee…
We study belief revision when information is represented by a set of probability distributions, or general information. General information extends the standard event notion while including qualitative information (A is more likely than B),…
We explore the influence of framing on decision-making, where some products are framed (e.g., displayed, recommended, endorsed, or labeled). We introduce a novel choice function that captures observed variations in framed alternatives.…
We design mechanisms for maintaining public goods which require periodic in-kind contributions, motivated by incentives problems facing crowd-sourced recommender systems. Utilitarian welfare is maximized by redistributive policies which are…
This paper studies a discrete-time version of the Lucas-Uzawa endogenous growth model with physical and human capital in the presence of externalities. Existence of an optimal equilibrium is proved using tools from dynamic programming with…
We revisit the problem of fairly allocating a sequence of time slots when agents may have different levels of patience (Mackenzie and Komornik 2023). For each number of agents, we provide a lower threshold and an upper threshold on the…
We study the canonical signaling game, endowing the sender with commitment power: before learning the state, sender designs a strategy, which maps the state into a probability distribution over actions. We provide a geometric…
This paper studies the organization of communication between biased senders and a receiver. Senders can misreport their private information at a cost. Efficiency is achieved by clearing information asymmetries without incurring costs.…
Collusion in market pricing is a concept associated with human actions to raise market prices through artificially limited supply. Recently, the idea of algorithmic collusion was put forward, where the human action in the pricing process is…
The connotation of transaction costs has never been definitively determined, and the independence of the concept has never been rigorously demonstrated. This paper delves into the thought systems of several prominent economists in the…
We present a model elucidating wishful thinking, which comprehensively incorporates both the costs and benefits associated with biased beliefs. Our findings reveal that wishful thinking behavior can be characterized as equivalent to…
This paper examines games with strategic complements or substitutes and incomplete information, where players are uncertain about the opponents' parameters. We assume that the players' beliefs about the opponent's parameters are selected…
This paper revisits the Hotelling model with waiting costs Kohlberg (1983), focusing on two specific settings where pure Nash equilibria do not exist: the asymmetric model with two firms and the symmetric model with three firms. In the…