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Ideal Default for Resolving Disputes Efficiently (2024)
Journal Article
Anbarci, N., & Celik, G. (in press). Ideal Default for Resolving Disputes Efficiently. International Economic Review,

We study arbitration mechanisms where two parties to the dispute have single-peaked preferences over outcomes, represented by concave utility functions. The most preferred outcome of each party is her private information. By participating in an arbit... Read More about Ideal Default for Resolving Disputes Efficiently.

Aggregating Inconclusive Data Sets (2024)
Journal Article
Gayer, G., Lehrer, E., & Persitz, D. (2024). Aggregating Inconclusive Data Sets. Games and Economic Behavior, 146, 77-90. https://doi.org/10.1016/j.geb.2024.04.011

An administrator is provided with data collected by several practitioners. These data may include inconclusive observations. The administrator is required to form a frequency distribution on the states of nature that would be approved by external aud... Read More about Aggregating Inconclusive Data Sets.

Consumer Search and Product Returns in E-Commerce (2024)
Journal Article
Janssen, M., & Williams, C. (2024). Consumer Search and Product Returns in E-Commerce. American Economic Journal: Microeconomics, 16(2), 387-419. https://doi.org/10.1257/mic.20230040

E-commerce has led to a surge in products being returned after purchase. We analyze product returns as resulting from a trade-off between the social waste of returns and the search efficiency gains of being able to inspect a product’s value after pur... Read More about Consumer Search and Product Returns in E-Commerce.

Weighted Utility and Optimism/Pessimism: A Decision-Theoretic Foundation of Various Stochastic Dominance Orders (2024)
Journal Article
Wang, T., & Lehrer, E. (2024). Weighted Utility and Optimism/Pessimism: A Decision-Theoretic Foundation of Various Stochastic Dominance Orders. American Economic Journal: Microeconomics, 16(1), 210-223. https://doi.org/10.1257/mic.20220350

We show that a probability distribution likelihood-ratio dominates another distribution if and only if, for every weighted utility function, the former is preferred over the latter. Likewise, a probability distribution hazard-rate (or reverse hazard... Read More about Weighted Utility and Optimism/Pessimism: A Decision-Theoretic Foundation of Various Stochastic Dominance Orders.

Information Aggregation Under Ambiguity: Theory and Experimental Evidence (2024)
Journal Article
Galanis, S., Ioannou, C. A., & Kotronis, S. (2024). Information Aggregation Under Ambiguity: Theory and Experimental Evidence. The Review of Economic Studies, https://doi.org/10.1093/restud/rdae009

We study information aggregation in a dynamic trading model. We show theoretically that separable securities, introduced by Ostrovsky in the context of Expected Utility, no longer aggregate information if some traders have imprecise beliefs and are a... Read More about Information Aggregation Under Ambiguity: Theory and Experimental Evidence.

The Value of Information in Stopping Problems (2023)
Journal Article
Lehrer, E., & Wang, T. (2023). The Value of Information in Stopping Problems. Economic Theory, https://doi.org/10.1007/s00199-023-01543-8

We consider stopping problems in which a decision maker (DM) faces an unknown state of nature and decides sequentially whether to stop and take an irreversible action, or pay a fee and obtain additional information. We discuss the value and quality o... Read More about The Value of Information in Stopping Problems.

Intelligence Disclosure and Cooperation in Repeated Interactions (2023)
Journal Article
Lambrecht, M., Proto, E., Rustichini, A., & Sofianos, A. (in press). Intelligence Disclosure and Cooperation in Repeated Interactions. American Economic Journal: Microeconomics,

How does the information on players’ intelligence affect strategic behavior? Game theory, based on the assumption of common knowledge of rationality, does not provide useful predictions. We experimentally show that in the Prisoners’ Dilemma disclosur... Read More about Intelligence Disclosure and Cooperation in Repeated Interactions.

Seller Compound Search for Bidders (2023)
Journal Article
Lee, J., & Li, D. Z. (2023). Seller Compound Search for Bidders. The Journal of Industrial Economics, https://doi.org/10.1111/joie.12355

This article studies a seller's compound search for bidders by a deadline. We show that the optimal search outcomes can be implemented by a sequence of second‐price auctions, characterized by declining reserve prices and increasing search intensities... Read More about Seller Compound Search for Bidders.

Echo Chambers: Social Learning under Unobserved Heterogeneity (2023)
Journal Article
Williams, C. (2023). Echo Chambers: Social Learning under Unobserved Heterogeneity. The Economic Journal, https://doi.org/10.1093/ej/uead081

People are often more influenced by opinions similar to their own and even seek information from those with whom they expect to most agree—behaviors often attributed to irrational biases. In this paper, I argue that these behaviors can be understood... Read More about Echo Chambers: Social Learning under Unobserved Heterogeneity.

Theory of Socially Responsible Investment: A Review (2023)
Book Chapter
Marsiliani, L., Naga, L., Renström, T. I., & Spataro, L. (2023). Theory of Socially Responsible Investment: A Review. In L. Spataro, M. C. Quirici, & G. Iermano (Eds.), ESG Integration and SRI Strategies in the EU (11-45). Palgrave Macmillan. https://doi.org/10.1007/978-3-031-36457-0_2

Socially responsible investment (SRI), where individuals look beyond financial payoffs to integrate environmental, social and governance (ESG) factors into their investment decisions, is not fully explained by standard models of preferences. Conseque... Read More about Theory of Socially Responsible Investment: A Review.

Eye-image as Nonverbal Social Cue has Asymmetric Gender Effects in Dictator Taking Games (2023)
Journal Article
Chowdhury, S. M., Young Jeon, J., & Saha, B. (2023). Eye-image as Nonverbal Social Cue has Asymmetric Gender Effects in Dictator Taking Games. Journal of Behavioral and Experimental Economics, https://doi.org/10.1016/j.socec.2023.102087

Dictator giving games often demonstrate that nonverbal social cues, such as drawn-in eyes on display, induce pro-social behavior in the form of giving more. Notably, sometimes this effect is seen to differ between males and females. However, the effe... Read More about Eye-image as Nonverbal Social Cue has Asymmetric Gender Effects in Dictator Taking Games.

Bilateral Delegation, Wage Bargaining and Innovation (2023)
Journal Article
Mukherjee, A., & Saha, B. (in press). Bilateral Delegation, Wage Bargaining and Innovation. Journal of Institutional and Theoretical Economics,

A firm undertakes workers’ productivity improving R&D before negotiating wage with the union, where negotiation can take place between their incentivised delegates. Under bilateral delegation profit, R&D and productivity-wage gap all increase, whilst... Read More about Bilateral Delegation, Wage Bargaining and Innovation.

Migration and Trust: Evidence on Assimilation from Internal Migrants (2023)
Working Paper
Marino Fages, D. Migration and Trust: Evidence on Assimilation from Internal Migrants

I study whether internal migrants assimilate culturally to the locals. Investigating this question with observational data has been challenging because it requires disentangling assimilation from sorting and because data on immigrants before migratin... Read More about Migration and Trust: Evidence on Assimilation from Internal Migrants.

Anger Impairs Strategic Behavior: A Beauty-Contest Based Analysis (2023)
Journal Article
Castagnetti, A., Proto, E., & Sofianos, A. (2023). Anger Impairs Strategic Behavior: A Beauty-Contest Based Analysis. Journal of Economic Behavior and Organization, 213, 128-141. https://doi.org/10.1016/j.jebo.2023.06.027

The frustration-aggression hypothesis posits that anger affects economic behaviour essentially by temporally changing individual social preferences and specifically attitudes towards punishment. Here, we test a different channel in an experiment whe... Read More about Anger Impairs Strategic Behavior: A Beauty-Contest Based Analysis.

Accounting for protected areas: Approaches and applications (2023)
Journal Article
King, S., Ginsburg, A., Driver, A., Belle, E., Campos, P., Caparrós, A., …Brown, C. (2023). Accounting for protected areas: Approaches and applications. Ecosystem Services, 63, Article 101544. https://doi.org/10.1016/j.ecoser.2023.101544

The System of Environmental-Economic Accounts Ecosystem Accounting (SEEA EA) provides a statistical framework for measuring ecosystems and the services they supply, complementing the System of National Accounts (SNA). Although accounting for protecte... Read More about Accounting for protected areas: Approaches and applications.

Proportional resource allocation in dynamic n-player Blotto games (2023)
Journal Article
Anbarci, N., Cingiz, K., & Ismail, M. S. (2023). Proportional resource allocation in dynamic n-player Blotto games. Mathematical Social Sciences, 125, 94-100. https://doi.org/10.1016/j.mathsocsci.2023.07.002

In this note, we introduce a general model of dynamic n-player multi-battle Blotto contests in which asymmetric resources and non-homogeneous battlefield prizes are possible. Each player’s probability of winning the prize in a battlefield is govern... Read More about Proportional resource allocation in dynamic n-player Blotto games.