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作者：Che, Xiaogang; Li, Tong; Lu, Jingfeng; Zheng, Xiaoyong
作者单位：Vanderbilt University; National University of Singapore; North Carolina State University
摘要：We examine a two-stage selling mechanism design problem, where the buyer makes her report and the seller endogenously decides his effort (hidden investment) to generate a possibly better outside offer. The optimal mechanism shows that the seller's effort depends on the reported value of the buyer; a higher value lowers the seller's incentive to invest in the outside offer. After the price of the outside offer is realized, if the buyer's virtual value is less than the price, the seller takes th...
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作者：Jeon, Doh-Shin; Lefouili, Yassine; Madio, Leonardo
作者单位：Communaute d'universites et etablissements de Toulouse (Comue); Universite Toulouse 1 Capitole; Toulouse School of Economics; University of Padua
摘要：We study a platform's incentives to remove IP-infringing products and the effects of holding the platform liable for such infringements on innovation and welfare. We first show that platform liability can lead to either higher or lower commission rates, depending on how screening affects transaction volume. We then show that liability may spur or hinder innovation, depending on the intensity of cross-group network externalities, which determines participation elasticities on each side. If plat...
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作者：Anstreicher, Garrett; Venator, Joanna
作者单位：University of Nebraska System; University of Nebraska Lincoln; Boston College
摘要：We document how childcare costs and the location of extended family influence the labor supply and mobility of US women. Women return to their home locations immediately before fertility events, suggesting that informal childcare needs may motivate home migration. Women who live near their parents have lower child earnings penalties. We then build a model of labor supply and migration to assess the impacts of childcare subsidies. Childcare subsidies increase earnings and mobility among US wome...
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作者：Sargent, Thomas J.; Selvakumar, Yatheesan J.; Yang, Ziyue
作者单位：New York University; Australian National University
摘要：We establish connections between dynamic mode decompositions (DMDs), vector autoregressions, and linear state-space models, showing that DMD provides a computationally efficient, SVD-based estimator of low-rank first-order VAR projection coefficients in high-dimensional settings. When the measurement matrix has full column rank, the recovered nonzero eigenvalues coincide with those of the underlying state transition matrix. We apply DMD to a 100-household heterogeneous-agent economy with compl...
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作者：Zennyo, Yusuke
作者单位：Kobe University
摘要：This paper develops a model of platform liability for ex post compensation of consumer harm caused by third-party sellers. A platform chooses how liability is shared with sellers, but assumes no liability because it reduces sellers' safety investments. Mandated platform liability can increase or decrease consumer surplus: it is more likely to be beneficial when the platform has weak market power or faces competition, but less so when it sells first-party goods or third-party sellers are judgme...
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作者：Ishida, Junichiro; Suen, Wing
作者单位：University of Osaka; University of Hong Kong
摘要：We study a signaling game where agents signal their type by choosing when to quit pursuing an uncertain project. High types observe news about project quality and quit when bad news arrives. Low types who do not observe any news may mimic high types by quitting continuously over a phase of time. The reputation dynamics may exhibit nonmonotonicity with respect to quitting time. Our analysis offers a unifying explanation for how and when both early and late quitting can enhance reputation and su...
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作者：Steger, Thomas; Trimborn, Timo
作者单位：Leipzig University; Aarhus University
摘要：To better understand the structure and core mechanisms of a broad class of climate-growth models, we study a simplified version of the dynamic integrated model of climate and the economy (DICE) through the lens of growth theory. We analytically show that this model features a continuum of saddle-point stable steady states. Initial conditions of stock variables, which are notoriously difficult to calibrate, matter for long-run economic and climate outcomes. However, we also demonstrate that a m...
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作者：Fasani, Stefano; Miescu, Mirela; Rossi, Lorenza
作者单位：Lancaster University
摘要：Using a nonlinear VAR, we examine the asymmetric effects of shocks to long-run inflation expectations. Negative shocks, which temporarily lower long-run inflation expectations, have a stronger and more persistent impact on output, investment, and firm entry compared to positive shocks. We provide a novel theoretical explanation, demonstrating how these shocks influence the second-order components of the model, shaping firms' wait-and-see behavior-particularly along both the intensive and exten...
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作者：Boar, Corina; Knowles, Matthew; Storesletten, Kjetil; Wang, Yicheng
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作者：Hwang, Sung-ha; Neary, Philip R.; Newton, Jonathan; Sawa, Ryoji
作者单位：Korea Advanced Institute of Science & Technology (KAIST); University of London; Royal Holloway University London; Kyoto University; University of Tsukuba
摘要：This paper investigates strategic dynamics under the behavioral rule of pairwise interact and imitate (PII), which requires minimal information and emphasizes outperforming opponents in pairwise interactions. We characterize PII using weak tournament graphs and, for a broad class of dynamics, establish a one-shot stability result for stochastic stability. Applications include Cournot competition, strategic complements and substitutes, externalities, Nash demand games, and status-seeking contes...
