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Outputs (131)

A monetary policy accordion: Why do central banks from different countries expand and contract together? (2025)
Journal Article
Basu, P., Lee, Y., & Reinhorn, L. (online). A monetary policy accordion: Why do central banks from different countries expand and contract together?. Journal of Macroeconomics, https://doi.org/10.1016/j.jmacro.2025.103703

During recent decades, the monetary policies of central banks have shown significant co-movements mostly led by major economies such as the US. We find that this can be explained even when central banks adopt “inward looking” policy rules without aim... Read More about A monetary policy accordion: Why do central banks from different countries expand and contract together?.

Arbiter Assignment (2025)
Journal Article
Afacan, M. O., Anbarci, N., & Kibris, O. (in press). Arbiter Assignment. Social Choice and Welfare,

In dispute resolution, arbitrator assignments are decentralized and also incorporate parties’ preferences, in total contrast to referee assignments in sports. We suggest that there can be gains (i) in dispute resolution from centralizing the allocati... Read More about Arbiter Assignment.

Sovereign Default with Unobservable Physical Capital (2025)
Journal Article
Marsiliani, L., Renström, T., & Yaisawang, N. (in press). Sovereign Default with Unobservable Physical Capital. Theoretical Economics Letters,

We develop a model of sovereign default where borrowers’ physical capital is not observable by the lenders and therefore the bond price schedule does not depend on capital accumulation. Borrowers take decisions on consumption, investment in physical... Read More about Sovereign Default with Unobservable Physical Capital.

Dynamics of Multi-Stage Screening (2025)
Journal Article
Lagziel, D., & Lehrer, E. (2025). Dynamics of Multi-Stage Screening. Economic Modelling, 151, Article 107204. https://doi.org/10.1016/j.econmod.2025.107204

This study explores dynamic screening problems in which elements undergo noisy evaluations. Some elements are discarded at each stage, while the remainder are re-evaluated independently in subsequent stages. We demonstrate that, ceteris paribus, the... Read More about Dynamics of Multi-Stage Screening.

A Taste for Variety (2025)
Journal Article
Ashkenazi-Golan, G., Karos, D., & Lehrer, E. (2025). A Taste for Variety. Games and Economic Behavior, 152, 396-422. https://doi.org/10.1016/j.geb.2025.05.003

A decision maker repeatedly chooses one of a finite set of actions. In each period, the decision maker’s payoff depends on a fixed basic payoff of the chosen action and the frequency with which the action has been chosen in the past. We analyze optim... Read More about A Taste for Variety.

Resource Windfalls and Political Sabotage: Evidence from 5.2 Million Political Ads (2025)
Journal Article
Lagziel, D., Lehrer, E., & Raveh, O. (online). Resource Windfalls and Political Sabotage: Evidence from 5.2 Million Political Ads. American Journal of Agricultural Economics, https://doi.org/10.1111/ajae.12551

We study the role of incentives in inducing sabotage in political contents, vis-à-vis natural resource windfalls. The latter induce plausibly exogenous increases in contests’ stakes, by extending opportunities for policy implementation or private gai... Read More about Resource Windfalls and Political Sabotage: Evidence from 5.2 Million Political Ads.

Cardinality and Utilitarianism through social interactions (2025)
Journal Article
Alon, S., & Lehrer, E. (in press). Cardinality and Utilitarianism through social interactions. American Economic Journal: Microeconomics, https://doi.org/10.1257/mic.20240068

We provide axioms that relate the preferences of each group in a society to the preferences of the subgroups contained in them. These axioms yield cardinal utility indices for each individual and a representation of group preferences as the group-dep... Read More about Cardinality and Utilitarianism through social interactions.

Democratic regulation of AI in the workplace (2025)
Journal Article
Roy, J., & Saha, B. (2025). Democratic regulation of AI in the workplace. Games and Economic Behavior, 152, 113-132. https://doi.org/10.1016/j.geb.2025.04.004

When artificial intelligence (AI) displaces lower-skilled workers with higher intensity, electoral democracies may slow down automation in fear of unemployment and voter re- sentment. Using a Downsian model of elections where parties promise to limit... Read More about Democratic regulation of AI in the workplace.

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. (2025). Ideal Default for Resolving Disputes Efficiently. International Economic Review, 66(1), 201-221. 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. (2025). Intersectionality: Affirmative Action with Multidimensional Identities. Management Science, 71(5), 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. (2024). Influencing Search. The RAND Journal of Economics, 55(3), 442-462. 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.

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.