Outputs (121)

AI-powered mechanisms as judges: Breaking ties in chess (2024)
Journal Article
Anbarci, N., & Ismail, M. S. (2024). AI-powered mechanisms as judges: Breaking ties in chess. PLoS ONE, 19(11), Article e0305905. https://doi.org/10.1371/journal.pone.0305905

Recently, Artificial Intelligence (AI) technology use has been rising in sports to reach decisions of various complexity. At a relatively low complexity level, for example, major tennis tournaments replaced human line judges with Hawk-Eye Live techno... Read More about AI-powered mechanisms as judges: Breaking ties in chess.

Ideal Default for Resolving Disputes Efficiently (2024)
Journal Article
Anbarci, N., & Celik, G. (online). Ideal Default for Resolving Disputes Efficiently. International Economic Review, https://doi.org/10.1111/iere.12737

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.

Uncovering individualised treatment effects for educational trials (2024)
Journal Article
Xiao, Z., Hauser, O., Kirkwood, C., Li, D. Z., Ford, T., & Higgins, S. (2024). Uncovering individualised treatment effects for educational trials. Scientific Reports, 14(1), Article 22606. https://doi.org/10.1038/s41598-024-73714-z

Large-scale Randomised Controlled Trials (RCTs) are widely regarded as “the gold standard” for testing the causal effects of school-based interventions. RCTs typically present the statistical significance of the average treatment effect (ATE), which... Read More about Uncovering individualised treatment effects for educational trials.

Intersectionality: Affirmative Action with Multidimensional Identities (2024)
Journal Article
Carvalho, J.-P., Pradelski, B. R. S., & Williams, C. (online). Intersectionality: Affirmative Action with Multidimensional Identities. Management Science, https://doi.org/10.1287/mnsc.2023.03839

Studying the design of affirmative action policies when identities are multidimensional, we provide a formal demonstration of the importance of intersectionality. Prevailing affirmative action policies are based only on one identity dimension (e.g.,... Read More about Intersectionality: Affirmative Action with Multidimensional Identities.

Influencing Search (2024)
Journal Article
Janssen, M. C. W., & Williams, C. (online). Influencing Search. The RAND Journal of Economics, https://doi.org/10.1111/1756-2171.12475

We show that in search markets an influencer who recommends a product to her followers improves consumer surplus and total welfare despite the firm paying for her recommendation. As consumers learn their value for the product upon search, they will n... Read More about Influencing Search.

Intelligence Disclosure and Cooperation in Repeated Interactions (2024)
Journal Article
Lambrecht, M., Proto, E., Rustichini, A., & Sofianos, A. (2024). Intelligence Disclosure and Cooperation in Repeated Interactions. American Economic Journal: Microeconomics, 16(3), 199-231. https://doi.org/10.1257/mic.20220245

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.

Advanced Microeconomics: Theory, Applications and New Developments (2024)
Book
Saha, B. (2024). Advanced Microeconomics: Theory, Applications and New Developments. London: Routledge. https://doi.org/10.4324/9781003226994

Interpersonal independence of knowledge and belief (2024)
Journal Article
Lehrer, E., & Samet, D. (2024). Interpersonal independence of knowledge and belief. Synthese, 204, Article 21. https://doi.org/10.1007/s11229-024-04607-x

We show that knowledge satisfies interpersonal independence, meaning that a non-trivial sentence describing one agent’s knowledge cannot be equivalent to a sentence describing another agent’s knowledge. The same property of interpersonal independence... Read More about Interpersonal independence of knowledge and belief.

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. (online). The Value of Information in Stopping Problems. Economic Theory, 78, 619–648. 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.

Seller Compound Search for Bidders (2023)
Journal Article
Lee, J., & Li, D. Z. (2023). Seller Compound Search for Bidders. The Journal of Industrial Economics, 71(4), 1004-1037. 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. (2024). Echo Chambers: Social Learning under Unobserved Heterogeneity. The Economic Journal, 134(658), 837–855. 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, 107, Article 102087. 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.

Performance Cycles (2023)
Journal Article
Lagziel, D., & Lehrer, E. (2023). Performance Cycles. Economic Theory, 77, 999-1024. https://doi.org/10.1007/s00199-023-01516-x

A decision maker repeatedly exerts efforts to produce new outputs, while being compensated based on his past and current production levels. We show that the decision maker’s optimal strategy dictates a cyclic oscillatory performance whenever the comp... Read More about Performance Cycles.

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, https://doi.org/10.1628/jite-2024-0023

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)
Preprint / 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.