经济学
Despite recent advancements in machine learning, in practice, relevant datasets are often distributed among market competitors who are reluctant to share. To incentivize data sharing, recent works propose analytics markets, where multiple…
We study a model of retail agglomeration where consumers are more likely to visit zones with a higher concentration of shops. This agglomerative effect makes zones with many retailers more attractive. The spatial distribution of retailers…
While the benefits of common and public goods are shared, they tend to be scarce when contributions are provided voluntarily. Failure to cooperate in the provision or preservation of these goods is fundamental to sustainability challenges,…
Rare earth elements (REEs) are critical to a wide range of clean and high-tech applications, yet global trade dependencies expose countries to vulnerabilities across production networks. Here, we construct a multi-tiered input-output trade…
Disasters often impact supply chains, leading to cascading effects across regions. While unaffected regions may attempt to compensate, their ability is constrained by their available production capacity and logistical constraints between…
This paper derives a closed-form expression linking aggregate markups on imported inputs to concentration in a model of firm-to-firm trade with two-sided market power. Our theory extends standard oligopoly insights in two dimensions. First,…
This paper develops a new generation of the Keynesian Intertemporal Synthesis (KIS) Model, a macroeconomic framework designed to reconcile the empirical strengths of the Post-Keynesian (PK) and New Keynesian (NK) traditions. The central…
In this paper, we present the Tokenized Sovereign Debt Conversion Mechanism (TSDCM), a smart-contracted instrument that, upon meeting both debt-to-GDP and GDP-growth thresholds, automates the retirement of sovereign debt. TSDCM initiates…
I study the optimal voting mechanism for a committee that must decide whether to enact or block a policy of unknown benefit. Information can come both from committee members who can acquire it at cost, and a strategic lobbyist who wishes…
We propose a general methodology for recovering preference parameters from data on choices and response times. Our methods yield estimates with fast ($1/n$ for $n$ data points) convergence rates when specialized to the popular Drift…
A seller offers an asset in a decentralised market. Buyers have private signals about their common value. I study whether the market becomes allocatively more efficient with (i) more buyers, (ii) better-informed buyers. Both increase the…
An informed Advisor and an uninformed Decision-Maker, with conflicting interests, engage in repeated cheap talk communication in always new decision problems. While the Decision-Maker's optimal payoff is attainable in some subgame-perfect…
We analyze the first and second moment risk premia in the Bitcoin market based on options and realized returns and contrast them to the premia embedded in the main US stock index market. First, Bitcoin is much more volatile and has a higher…
Although electric vehicles (EVs) are a climate friendly alternative to internal combustion engine vehicles (ICEVs), EV adoption is challenged by higher up-front procurement prices. Existing discourse attributes this price differential to…
I develop a theoretical model to examine how the rise of autonomous AI (artificial intelligence) agents disrupts two-sided digital advertising markets. Through this framework, I demonstrate that users' rational, private decisions to…
This paper develops the first comprehensive theoretical and empirical framework for analyzing AI-driven spatial distribution dynamics in metropolitan areas undergoing demographic transition. We extend New Economic Geography by formalizing…
We introduce and formalize misalignment, a phenomenon of interactive environments perceived from an analyst's perspective where an agent holds beliefs about another agent's beliefs that do not correspond to the actual beliefs of the latter.…
We explore the issues of identification for nonlinear Impulse Response Functions in nonlinear dynamic models and discuss the settings in which the problem can be mitigated. In particular, we introduce the nonlinear autoregressive…
This paper studies settings where the analyst is interested in identifying and estimating the average \emph{direct} causal effect of a binary treatment on an outcome. We consider a setup in which the outcome realization does not get…
An employer contracts with a worker to incentivize efforts whose productivity depends on ability; the worker then enters a market that pays him contingent on ability evaluation. With non-additive monitoring technology, the interdependence…