JET
2016
8 years 1 months ago
2016
Evolutionary models in which N players are repeatedly matched to play a game have “fast convergence” to a set A if the models both reach A quickly and leave A slowly, where ...
JET
2016
8 years 1 months ago
2016
__________________________________________________________________________________ We study optimal fiscal policy in a small open economy (SOE) with sovereign and private default r...
JET
2016
8 years 1 months ago
2016
Behavioral economics struggles to explain why people sometimes evaluate outcomes separately (narrow bracketing of mental accounts) and sometimes jointly (broad bracketing). We dev...
JET
2016
8 years 1 months ago
2016
JET
2016
8 years 1 months ago
2016
On average, “young” people underestimate whereas “old” people overestimate their chances to survive into the future. We adopt a Bayesian learning model of ambiguous surviv...
JET
2016
8 years 1 months ago
2016
We analyze a principal-agent problem with moral hazard where a principal searches for an opportunity of uncertain return, and hires an agent to evaluate available options. The age...
JET
2016
8 years 1 months ago
2016
A seller maximizes revenue from selling an object in a dynamic environment, with buyers that differ in their patience: Each buyer has a privately known deadline for buying and a p...
JET
2016
8 years 1 months ago
2016
This paper presents a collection of convergence results on best-response dynamics in extensive-form games. We prove that in all finite generic extensive-form games of perfect inf...
JET
2016
8 years 1 months ago
2016
We provide easily-verifiable sufficient conditions on the primitives of a Bayesian game to guarantee the existence of a behavioral-strategy Bayes-Nash equilibrium. We allow playe...
JET
2016
8 years 1 months ago
2016
When the fair outcome optimizes an unambiguous index of fairness, the presence of exogenous, normatively neutral, constraints complicates the optimization problem but raises no co...