经济学
We embed observational learning (BHW) in a symmetric duopoly with random arrivals and search frictions. With fixed posted prices, a mixed-strategy pricing equilibrium exists and yields price dispersion even with ex-ante identical firms. We…
A benevolent advisor observes a project's complexity and posts a pass - fail threshold before the agent chooses effort. The project succeeds only if ability and effort together clear complexity. We compare two informational regimes. In the…
While tourism is widely regarded as a catalyst for economic and urban transformation, its effects on land prices remain contested. This study examines tourism and land prices using a panel of 1,724 Japanese municipalities from 2021 to 2024,…
This paper studies how noise in certification technology affects seller profits in a duopoly with unobservable product quality. We identify two opposing effects of noisy certification. First, it reduces the informativeness of certification…
When does reputation make experts play it safe, and what policy reverses that? I isolate a single lever - visibility of outcomes. In a two-page model with binary signals and outcomes, I show: (i) with an uninformative safe option and…
We study a repeated sender-receiver game where inspections are public but the sender's action is hidden unless inspected. A detected deception ends the relationship or triggers a finite punishment. We show the public state is one…
This paper presents a refined country-level integrated assessment model, FUND 3.9n, that extends the regional FUND 3.9 framework by incorporating sector-specific climate impact functions and parametric uncertainty analysis for 198…
We study expert advice under reputational incentives, with sell-side equity research as the lead application. A long-lived analyst receives a continuous private signal about a binary payoff and recommends a risky (Buy) or safe action.…
This paper examines when the public provision of information in search markets improves welfare. I consider a two-sided frictional search market in which buyers match with vertically differentiated sellers. The market is segmented into…
We propose a nonparametric method for estimating the distribution of consumer welfare from cross-sectional data with no restrictions on individual preferences. First demonstrating that moments of demand identify the curvature of the…
The Vasicek model is a commonly used interest rate model, and there exist many extensions and generalizations of it. However, most generalizations of the model are either univariate or assume the noise process to be Gaussian, or both. In…
Fintech lending has become a central mechanism through which digital platforms stimulate consumption, offering dynamic, personalized credit limits that directly shape the purchasing power of consumers. Although prior research shows that…
Artificial intelligence (AI) tools such as large language models (LLMs) are already altering student learning. Unlike previous technologies, LLMs can independently solve problems regardless of student understanding, yet are not always…
The rise of autonomous pricing systems has sparked growing concern over algorithmic collusion in markets from retail to housing. This paper examines controlled information quality as an ex ante policy lever: by reducing the fidelity of data…
As artificial intelligence (AI) becomes foundational to enterprise infrastructure, organizations face growing challenges in accurately assessing the full economic implications of AI deployment. Existing metrics such as API token costs,…
This study introduces a novel approach for inferring social network structures using Aggregate Relational Data (ARD), addressing the challenge of limited detailed network data availability. By integrating ARD with variational approximation…
This paper is the first to provide causal evidence of gender differences in healthcare utilisation to better understand the male-female health-survival paradox, where women live longer but experience worse health outcomes. Using rich Danish…
We highlight the barriers shaping women's economic opportunities in Pakistan, where female labor force participation remains among the lowest globally. Labor force surveys (2020-21) show a stark rural-urban divide: 28 percent for rural…
This paper studies how imprecision in noisy signals attenuates Bayesian updating toward the prior. This phenomenon is well-known under a normal prior and normal noise, where less precise signals yield posterior means closer to the prior…
We develop a perfect foresight method to solve models with an interest rate lower bound constraint that nests OccBin/DynareOBC and \cite{Eggertsson2010}'s as well as \cite{Mertens2014}'s pen and paper solutions as special cases. Our method…