经济学

This paper develops a method for estimating housing production functions when builders choose capital after observing local conditions that are unobserved by the econometrician. Because observed capital variation reflects both technological…

We propose a refinement of the maxmin approach to robustness. A mechanism's payoff guarantee over an ambiguity set is \emph{robust} if the guarantee is approximately satisfied at priors near the ambiguity set (in the weak topology). We show…

This paper studies decentralized re-equilibration following population shocks, such as worker exits or firm entries, in many-to-many matching markets with contracts under substitutable preferences. We show that restricting any pre-shock…

We study a class of finite-action disclosure games in which the sender's preferences are state-independent and the receiver's optimal action depends only on the expected state. While receiver-preferred equilibria in these games involve full…

Private signals model noisy information about an unknown state. Although these signals are called "private," they may still carry information about each other. Our paper introduces the concept of private private signals, which contain…

Multivalued treatments are commonplace in applications. We explore the use of discrete-valued instruments to control for selection bias in this setting. Our discussion revolves around the concept of targeting: which instruments target which…

We show that a large effective number of commodities can be a source of equilibrium stability and uniqueness: expanding substitution opportunities strengthens aggregate substitution effects. We study finite dated-commodity exchange…

We study the emergence of conformity preferences in an environment in which agents choose effort under heterogeneous, possibly misspecified returns, and social interactions do not directly affect material payoffs. Some agents choose effort…

Which jobs can AI learn to do? We examine this for every occupation in the US economy. Existing indices measure the overlap between AI capabilities and occupational tasks rather than which tasks AI systems can learn to perform, and as a…

This paper studies sample-size design for finite-population test-and-roll experiments, where a decision-maker first conducts an experiment on $m$ units and then assigns the remaining $N-m$ units to the treatment that performs better in the…

Strategic competitions in the real world, from wars to geopolitical rivalries, often involve coalitions competing against rival groups. These contests are not simple interactions between unified entities, but multilayered processes in which…

This paper studies a simple dynamic linear panel regression model with interactive fixed effects in which the variable of interest is measured with error. To estimate the dynamic coefficient, we consider the least-squares minimum distance…

This paper proposes an eigenvalue-based small-sample approximation of the celebrated Markov Chain Monte Carlo that delivers an invariant steady-state distribution that is consistent with traditional Monte Carlo methods. The proposed…

Economic choices are often stochastic: the same person may make a different choice when facing the same alternatives repeatedly. Standard models assume that the degree of randomness reflects the size of utility differences, but choice…

This paper develops a unified framework for evaluating health outcomes that jointly incorporates equity and productivity. Extending beyond traditional QALYs, PALYs, and the more recent PQALYs, we introduce a broader class of evaluation…

We study the design of strategy-proof and efficient mechanisms satisfying participation constraints in the job-matching problem. Each firm can hire multiple workers and each worker can be employed at only one firm. While firm utilities over…

This study proposes a framework for estimating demand in differentiated product markets with high dimensional product characteristics, building upon the seminal Berry, Levinsohn, and Pakes (1995) model, using market level data. We allow for…

This paper develops a Hall-Sandpile model of economic instability that combines a Hall-like transversal stress mechanism with sandpile threshold dynamics on a real production-network substrate. In analogy with the physical Hall effect,…

Geographic constraints have long structured access to high-growth career opportunities, concentrating upward mobility within a limited set of cities and organizations. The expansion of remote work potentially alters this opportunity…

On a 93-actor quarterly panel mixing macro indicators, institutional data, and firm-level investment ratios, global factor augmentation degrades prediction for actor subgroups whose dynamics are misrepresented by the shared basis. A…