经济学
Gallice and Monz\'on (2019) present a natural environment that sustains full co-operation in one-shot social dilemmas among a finite number of self-interested agents. They demonstrate that in a sequential public goods game, where agents…
We generalize the model of Gallice and Monzon (2019) to incorporate a public goods game with groups, position uncertainty, and observational learning. Contributions are simultaneous within groups, but groups play sequentially based on their…
We propose a semi-structural DSGE model for the Israeli economy, as a small open economy, which contains a financial friction in the household sector credit market. Such a friction is reflected in a positive relationship between households'…
We modify the Double Machine Learning estimator to broaden its applicability to macroeconomic time-series settings. A deterministic cross-fitting step, termed Reverse Cross-Fitting, leverages the time-reversibility of stationary series to…
The theory of thermal macroeconomics (TM) analyses economic phenomena within the mathematical framework of classical thermodynamics, using a set of axioms that apply to the purely macroscopic aspects of an economy [CM]. The theory shows…
This paper introduces a regularized test of the null hypothesis of the absence of linear and nonlinear serial dependence for high-dimensional non-Gaussian time series. Our approach extends the portmanteau test introduced in Jasiak and…
This paper proposes a change in perspective on the ``transformation of values'' problem: from ``searching for a single constant solution'' to ``characterizing the allocation space under objective constraints imposed by the physical…
The code that was used in Erdil & Ergin (2008, AER) to compute stable improvement cycles sometimes generated unstable matchings. I identify the minor bug in their code that caused this issue, and I present a corrected implementation. While…
This paper considers confidence intervals (CIs) for the autoregressive (AR) parameter in an AR model with an AR parameter that may be close or equal to one. Existing CIs rely on the assumption of a stationary or fixed initial condition to…
Although QMLE is generally inconsistent, logistic regression relying on the binary choice model (BCM) with logistic errors is widely used, especially in machine learning contexts with many covariates. This paper revisits the slope…
We consider a sender-receiver game in which the receiver's action is binary and the sender's preferences are state-independent. The state is multidimensional. The receiver can select one dimension of the state to check (i.e., observe)…
We introduce an information order on experiments based on weighted garbling, a generalization of the standard notion of garbling. In this order, an experiment is more informative than another if the latter is a weighted garbling of the…
Extensive empirical studies show that the long distribution tail of travel time and the corresponding unexpected delay can have much more serious consequences than expected or moderate delay. However, the unexpected delay due to the…
We provide an analytical characterization of the model flexibility of the synthetic control method (SCM) in the familiar form of degrees of freedom. We obtain estimable information criteria, which may be used to circumvent cross-validation…
We provide a unifying way to analyze how risk aversion changes bidding in auctions by asking which bids become more attractive as bidders become more risk averse. In first-price auctions, under two payoff conditions--winning is never worse…
This study explores the different subjective values held by transgender people, including their subjective well-being, self-reported health status, and career-oriented decision-making. Using an individual-level panel dataset of over 19,000…
This study investigates how the view about women's active work changed after the outbreak of the novel coronavirus 2019 (COVID-19) disease. We use individual-level panel data from 2016 to 2024 that cover the period before and after the…
We introduce the sampling logit equilibrium (SLE), a stationary concept for population games in which agents evaluate actions using a finite sample of opponents' plays and respond according to a logit choice rule. This framework combines…
We examine how causal beliefs affect an agent's choices and how feedback on those choices leads to updated causal beliefs. Building on the structural-equations framework for modeling causality, we first examine the general problem of…
We develop an analytically tractable model featuring heterogeneous workers and firms, where labor markets clear through a one-to-many sorting mechanism. Firms determine both the number and composition of their employees, shaping (1) the…