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An equilibrium analysis of the probabilistic serial mechanism
(Springer Science+Business Media, 2016-08)
The prominent mechanism of the recent literature in the assignment problem is the probabilistic serial (PS). Under PS, the truthful (preference) proÖle always constitutes an ordinal Nash Equilibrium, inducing a random ...
The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge
(Elsevier, 2015-03)
It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures ...
Corporate sustainability interactions: A game theoretical approach to sustainability decisions
(Elsevier, 2019-12)
Recent global developments lead companies to include into their strategic plans not only economic sustainability but environmental and social sustainability as well. Companies have been investing in environmental and social ...
Damaged durable goods, upgrades, and the coase conjecture
(Mohr Siebeck, 2018-12)
This study analyzes a damaged-goods market for a perfectly durable good in an infinite-horizon, discrete-time game. We characterize Markov perfect equilibria of this game under different buyer upgrade possibilities as a ...
Dynamic moral hazard with sequential tasks
(Elsevier, 2019-10)
We study a sequential agency problem with hidden actions in an infinite horizon dynamic setting. The principal has a project that requires completion of two sequential tasks where the predecessor must be finished before ...
Reclaim-proof allocation of indivisible objects
(Elsevier, 2013-09)
We study desirability axioms imposed on allocations in indivisible object allocation problems. The existing axioms in the literature are various conditions of robustness to blocking coalitions with respect to agentsʼ ex ...
Domine edilen statükonun referans etkisi
(Okan Üniversitesi, 2018-05)
Statüko, bir kişinin şu anki konumunu temsil eder. Çalışılan iş ve yaşanılan şehir statüko için verilebilecek örnekler arasındadır. Bir statüko, kendi seçilmese bile, diğer alternatifler arasındaki göreceli sıralamayı ...
A picture's worth a thousand numbers
(Harvard Business Publishing, 2013-06)
The article examines research on the subject of humans' difficulty in understanding probability and the value of graphic representations in improving that understanding. Topics include research by "Harvard Business Review" ...
Financial development convergence
(Elsevier, 2015-07)
We show that credit levels relative to GDP and other measures for financial development tend to converge across countries over time. The results are obtained using a broad sample of countries over many years and controlling ...
Costly switching from a status quo
(Elsevier, 2018-12)
We axiomatically characterize a theory of status quo-dependent choice where an agent faces switching costs that depend upon both the status quo and the alternative he switches to. In a choice problem with a status quo, the ...
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