理论经济学
This paper studies many-to-one assignment markets, or matching markets with wages. Although it is well-known that the core of this model is non-empty, the structure of the core has not been fully investigated. To the known dissimilarities…
The standard criterion of rationality in economics is the maximization of a utility function that is stable across multiple observations of an agent's choice behavior. In this paper, we discuss two notions of the money pump that…
Algorithms are increasingly used to guide high-stakes decisions about individuals. Consequently, substantial interest has developed around defining and measuring the ``fairness'' of these algorithms. These definitions of fair algorithms…
During epidemics people may reduce their social and economic activity to lower their risk of infection. Such social distancing strategies will depend on information about the course of the epidemic but also on when they expect the epidemic…
Epidemics of infectious diseases posing a serious risk to human health have occurred throughout history. During recent epidemics there has been much debate about policy, including how and when to impose restrictions on behaviour.…
When does society eventually learn the truth, or take the correct action, via observational learning? In a general model of sequential learning over social networks, we identify a simple condition for learning dubbed excludability.…
In a finite two player game consider the matrix of one player's payoff difference between any two consecutive pure strategies. Define the half space induced by a column vector of this matrix as the set of vectors that form an obtuse angle…
A natural way of quantifying the ``amount of information'' in decision problems yields a globally concave value for information. Another (in contrast, adversarial) way almost never does.
We explore the connection between an agent's decision problem and her ranking of information structures. We find that a finite amount of ordinal data on the agent's ranking of experiments is enough to identify her (finite) set of…
We analyze the problem of locating a public facility in a domain of single-peaked and single-dipped preferences when the social planner knows the type of preference (single-peaked or single-dipped) of each agent. Our main result…
We study a method for calculating the utility function from a candidate of a demand function that is not differentiable, but is locally Lipschitz. Using this method, we obtain two new necessary and sufficient conditions for a candidate of a…
We examine how monetary shocks spread throughout an economic model characterized by sticky prices and general equilibrium, where the pricing strategies of firms are interlinked, fostering a mutually beneficial relationship. In this dynamic…
We develop a novel framework of bounded rationality under cognitive frictions that studies learning over optimal behavior through both deliberative reasoning and accumulated experiences. Using both types of information, agents engage in…
Consider an urn filled with balls, each labeled with one of several possible collective decisions. Now, let a random voter draw two balls from the urn and pick her more preferred as the collective decision. Relabel the losing ball with the…
The analysis of large population economies with incomplete information often entails the integration of a continuum of random variables. We showcase the usefulness of the integral notion \`a la Pettis (1938) to study such models. We present…
Two firms are engaged in a competitive prediction task. Each firm has two sources of data -- labeled historical data and unlabeled inference-time data -- and uses the former to derive a prediction model, and the latter to make predictions…
By relaxing the dominating set in three ways (e.g., from "each member beats every non-member" to "each member beats or ties every non-member, with an additional requirement that at least one member beat every non-member"), we propose a new…
The economic and financial variables of economic agents determine macroeconomic variables. Current models consider agents' variables that are determined by the sums of values and volumes of agents' trades during some time interval {\Delta}.…
By embedding uncertainty into time, we obtain a conjoint axiomatic characterization of both Exponential Discounting and Subjective Expected Utility that accommodates arbitrary state and outcome spaces. In doing so, we provide a novel and…
We use a combinatorial approach to compute the number of non-isomorphic choices on four elements that can be explained by models of bounded rationality.