经济学

Large language models, trained on personal data, are increasingly able to mimic individual personalities. These ``AI clones'' or ``AI agents'' have the potential to transform how people search for matches in contexts ranging from marriage…

We develop Probabilistic Targeted Factor Analysis (PTFA), a likelihood-based framework for constructing latent factors that are explicitly targeted to variables of economic interest. PTFA provides a probabilistic foundation for Partial…

In many rural areas of low- and middle-income countries, weekly gatherings of buyers and sellers are the most tangible manifestation of the market economy. Knowing these markets' whereabouts and activity over time could provide insights in…

Miscalibrated beliefs are widely viewed as compromising the quality of employees' decisions. Why, then, might an organization prefer to hire an individual known to be overconfident? This paper develops a theory of organizational demand for…

Many workers value purpose and meaning in their jobs alongside income, and firms need to align these preferences with profit goals. This paper develops a dynamic model in which firms invest in purpose to enhance job meaning and motivate…

Second-hand markets have expanded rapidly with the growth of online consumer-to-consumer (C2C) platforms. A key feature of C2C markets is that sellers are typically non-professionals and often face uncertainty about the quality of the goods…

Given the recent targeting of Chinese scientists by the Department of Justice and sizable contributions of Chinese scientists to American science, it is urgent to investigate the presence and the particulars of anti-Chinese discrimination…

The endogenous grid method (EGM) accelerates dynamic programming by inverting the Euler equation, but it appears incompatible with Epstein-Zin preferences where the value function enters the Euler equation. This paper shows that a power…

We study assortment and price optimization under the generalized nested logit (GNL) model, one of the most general and flexible modeling frameworks in discrete choice modeling. Despite its modeling advantages, optimization under GNL is…

We study how open disagreement influences team performance in a dynamic production game. Team members can hold different priors about the productivity of the available production technologies. Initial beliefs are common knowledge and…

I relax the standard assumptions of transitivity and partition structure in economic models of information to formalize vague knowledge: non-transitive indistinguishability over states. I show that vague knowledge, while failing to…

This paper proposes a new methodological framework for estimating inferential models with latent variables. It also introduces a new latent variable regression model called LARX: an extension of the ubiquitous autoregressive model with…

Finding the optimal (revenue-maximizing) mechanism to sell multiple items has been a prominent and notoriously difficult open problem. Existing work has mainly focused on deriving analytical results tailored to a particular class of…

This paper studies the role of hard information in contractual and market settings in which the receiver can flexibly adjust allocations and transfers in response to the sender's disclosure. These settings include monopoly pricing,…

This paper studies a model for the optimal control (by a centralized economic agent which we call the planner) of pollution diffusion over time and space. The controls are the investments in production and depollution and the goal is to…

This paper examines the interdependence of international success and competitive balance of domestic sports competitions. More specifically, we apply the notion of the Herfindahl-Hirschman index to examine the effect of international…

This paper provides a general identification approach for a wide range of nonlinear panel data models, including binary choice, ordered response, and other types of limited dependent variable models. Our approach accommodates dynamic models…

We develop a dynamic multi-region climate-economy model with emissions trading and solve for the dynamic Nash equilibrium under noncooperation, where each region follows Paris Agreement-based emissions caps. The permit price reaches $923…

This paper studies a many-to-one matching between individuals and institutions where institutions comprise multiple divisions and face cross-divisional constraints. We introduce a parametrized family of choice rules, which we call…

We study the adjudication of water rights in international rivers. We characterize allocation rules that formalize focal principles to deal with water disputes in a basic model. Central to our analysis is a family of geometric rules that…