理论经济学
In order to coordinate players in a game must first identify a target pattern of behaviour. In this paper we investigate the difficulty of identifying prominent outcomes in two kinds of binary action coordination problems in social…
Is incentive compatibility still necessary for implementation if we relax the rational expectations assumption? This paper proposes a generalized model of implementation that does not assume agents hold rational expectations and…
What will likely be the effect of the emergence of ChatGPT and other forms of artificial intelligence (AI) on the skill premium? To address this question, we develop a nested constant elasticity of substitution production function that…
We introduce the notion of a multidimensional hybrid preference domain on a (finite) set of alternatives that is a Cartesian product of finitely many components. We demonstrate that in a model of public goods provision, multidimensional…
Currently, over 90% of Ethereum blocks are built using MEV-Boost, an auction that allows validators to sell their block-building power to builders who compete in an open English auction in each slot. Shortly after the merge, when MEV-Boost…
A common economic process is crowdsearch, wherein a group of agents is invited to search for a valuable physical or virtual object, e.g. creating and patenting an invention, solving an open scientific problem, or identifying vulnerabilities…
This paper introduces the axiom of Negative Dominance, stating that if a lottery $f$ is strictly preferred to a lottery $g$, then some outcome in the support of $f$ is strictly preferred to some outcome in the support of $g$. It is shown…
In the ultimatum game, the challenge is to explain why responders reject non-zero offers thereby defying classical rationality. Fairness and related notions have been the main explanations so far. We explain this rejection behavior via the…
We study a sufficiently general regret criterion for choosing between two probabilistic lotteries. For independent lotteries, the criterion is consistent with stochastic dominance and can be made transitive by a unique choice of the regret…
Motivated by the analysis of a general optimal portfolio selection problem, which encompasses as special cases an optimal consumption and an optimal debt-arrangement problem, we are concerned with the questions of how a personality trait…
This paper deals with the positivity condition of an infinite-dimensional evolutionary equation, associated with a control problem for the optimal consumption over space. We consider a spatial growth model for capital, with production…
We investigate the problem of approximating an incomplete preference relation $\succsim$ on a finite set by a complete preference relation. We aim to obtain this approximation in such a way that the choices on the basis of two preferences,…
We study the bounds of mediated communication in sender-receiver games in which the sender's payoff is state-independent. We show that the feasible distributions over the receiver's beliefs under mediation are those that induce zero…
We study games in which the set of strategies is multi-dimensional, and new agents might learn various strategic dimensions from different mentors. We introduce a new family of dynamics, the recombinator dynamics, which is characterised by…
An equilibrium is communication-proof if it is unaffected by new opportunities to communicate and renegotiate. We characterize the set of equilibria of coordination games with pre-play communication in which players have private preferences…
This paper proposes an addition to the firm-based perspective on intra-industry profitability differentials by modelling a business organisation as a complex adaptive system. The presented agent-based model introduces an endogenous…
We present a universal concept for the Value of Information (VoI), based on the works of Claude Shannon's and Ruslan Stratonovich that can take into account very general preferences of the agents and results in a single number. As such it…
A firm-worker hypergraph consists of edges in which each edge joins a firm and its possible employees. We show that a stable matching exists in both many-to-one matching with transferable utilities and discrete many-to-one matching when the…
The emergence of increasingly sophisticated artificial intelligence (AI) systems have sparked intense debate among researchers, policymakers, and the public due to their potential to surpass human intelligence and capabilities in all…
We consider general Bayesian persuasion problems where the receiver's utility is single-peaked in a one-dimensional action. We show that a signal that pools at most two states in each realization is always optimal, and that such pairwise…