经济学

This paper proposes a generalized Mundlak estimator based on graph neural networks (GME-GNN). The estimator is designed to mitigate bias arising from group-level heterogeneity and to accommodate within-group dependence among individuals.…

Artificial intelligence feels omnipresent, yet the disruption many expect has not fully arrived. The main reason is not model capability, nor even the tools built to harness those models. Rather, most organizations are still using AI to…

We study markets where firms compete for consumer attention by subsidizing costly product inspection. These subsidies do not change product quality, but they alter the order in which consumers search by lowering inspection costs. We…

The 2022 rise in U.S. mortgage rates increased relocation costs for homeowners with low-rate mortgages. This cost varies across destinations because each draws workers from a different mix of labor markets. We build an in-migration…

Building on the $f$-information model of Bloedel et al. (2025), this paper introduces a one-parameter family of information acquisition models and characterizes optimal information acquisition. This family extends the mutual information…

Social inflation, which is the rise in liability claim costs beyond general economic inflation, has become a major concern for insurers and reinsurers, yet it is difficult to quantify because litigation outcomes are heavy-tailed and the mix…

The convolution of a Gaussian and a Cauchy distribution, known as the Voigt distribution, is widely used in spectroscopy and provides a natural framework for modeling heavy-tailed measurement noise. We derive analytical expressions for its…

We study economies where consumers interact independently with many monopolists. When consumer valuations over goods are correlated, correlation can distort the induced distribution of consumer surplus (information rents). We identify which…

I prove that it is irrational for agents with even slightly private preferences to condition their strategy on private information that is payoff-irrelevant to them, contrary to powerful techniques for analyzing communication and repeated…

Behavioral theories rest on parsimony: a small number of mechanisms organizing many decisions. We define a Maximum Rule Concentration Index that measures how parsimoniously a dataset of risky choices can be organized through a library of…

Panel data models with unobserved heterogeneity in the form of interactive effects standardly assume that the time effects -- or ``common factors'' -- enter linearly. This assumption is restrictive because it concerns an unobserved…

Early evaluations of NYC's congestion pricing program indicate overall improvements in vehicle speed and transit ridership. However, its distributional impacts remain understudied, as does the design of compensatory transit strategies…

This paper develops distribution theory and bootstrap-based inference methods for a broad class of convex pairwise difference estimators. These estimators minimize a kernel-weighted convex-in-parameter function over observation pairs with…

We provide a mechanistic foundation for economic complexity methods. In our model, an economy's ability to produce an activity depends on the joint presence of required capabilities. We analytically derive the Economic Complexity Index…

This paper studies decision problems where the decision maker's choice of action affects the probability distribution of a payoff relevant random variable. We establish sufficient conditions for the existence of an expected utility…

In our context-free model of a commons, the function$\mathcal{W}$ transforms the profile of the agents' types $(x_{1},..,x_{n})$ to a freely transferable output $\mathcal{W}(x_{1},..,x_{n})$ that they must share fairly. We expand the…

This paper asks whether regional wage differences can identify the effects of a national minimum wage. I study two common exposure-based approaches: effective-minimum-wage designs, which compare the minimum wage to contemporaneous local…

A principal hires an agent to work on a long-term project that culminates in a breakthrough or a breakdown. At each time, the agent privately chooses to work or shirk. Working increases the arrival rate of breakthroughs and decreases the…

We study moment-based estimation with two sequentially collected variables subject to non-monotone missingness. The commonly used Missing at Random (MAR) assumption requiring all missingness mechanisms to depend on the same fully observed…

We develop IV Fr\'echet regression (IVFR), an instrumental-variable (IV) method for settings where the outcome is an entire distribution. Framing the problem as an IV regression in 2-Wasserstein space, IVFR extends global Fr\'echet…