• Higher-Order Beliefs and (Mis)learning from Prices

    with Kevin He (Last update: June 2024)

    If it is beneficial to misperceive higher-order beliefs when learning elasticity from prices, it is harmful when not learning.

     

    Results from this paper originally appeared in Evolutionarily Stabale (Mis)specifications: Theory and Applications

    Retractions: Updating from Complex Information

    with Duarte Gonçalves and Jack Willis (Last update: June 2024) Resubmitted @ Review of Economic Studies

    We conduct an experiment on belief updating and document that subjects under-react to information when it is in the form of a retraction.

    Sequentially Optimal Pricing under Informational Robustness

    with Zihao Li and Xiaosheng Mu (Last update: June 2024) Presented @ SITE 2023

     

    We propose an approach to study informationally robust dynamic pricing when the seller lacks commitment.

    Misspecified Learning and Evolutionary Stability

    with Kevin He (Last update: May 2024) 

    We introduce a selection criterion on behavioral biases in environments with learning.

     

    Results from this paper originally appeared in Evolutionarily Stabale (Mis)specifications: Theory and Applications

    Electric Vehicle Sharing: Crowding Adoption Out or In?

    with Ruozi Song (Last update: April 2024)

    An Electric Vehicle (EV)-based ridesharing program in Los Angeles led to an increase in EV purchases, despite being a direct substitute to car ownership. We argue information externalities are responsible.

    Identifying Wisdom (of the Crowd): A Regression Approach

    (Last update: April 2024) R&R @ JPE: Micro

     

    I demonstrate how to recover a decisionmaker's information structure from posterior beliefs over states, together with posterior beliefs that each signal could be observed. In the process, I make new observations on the geometric structure of information.

    The Dynamics of Verification when Searching for Quality

    with Zihao Li (Last update: March 2024) To be presented @ EC' 24

     

    In a dynamic principal-agent project selection problem where transfers cannot be used and quality can be verified at a (sufficiently low) cost, optimal verification dynamics are characterized by "increasing trust."

    Research Registries and the Credibility Crisis: An Empirical and Theoretical Investigation

    with Eliot Abrams and John A. List (Last update: January 2024) Rej&R @ The Economic Journal

     

    We empirically study registries, focusing mostly (but not exclusively) on the AEA RCT Registry, and theoretically discuss issues related to incentives behind registration.

     

    The Mathematica notebook which we used in our calibration exercise can be found here, while the Mathematica notebook that checks our monotonicity condition can be found here.

    Optimal Scoring for Dynamic Information Acquisition

    with Yingkai Li (Last update: November 2023) To be presented @ EC' 24 

     

    We characterize when a principal, seeking to induce an agent to acquire information over time and able to condition rewards on outcomes, should simply elicit a single report after acquiring information.

    With a Grain of Salt: Uncertain Veracity of External News and Firm Disclosures

    with Beatrice Michaeli and Elyashiv Wiedman (Last update: August 2023) To be presented @ EC' 24, R&R @ Journal of Accounting and Economics 

    We study dynamic disclosure when an exogenous public signal may or may not reflect noise. This uncertainty creates an asymmetry in the market's interpretation of news; if equilibrium involves pre-emptive disclosure, prices may drop discontinuously as news improves

    Learning Underspecified Models

    with In-Koo Cho (Last Update: July 2023) R&R @ Journal of Economic Theory

    We present an algorithm which, by positing linear demand, allows the monopolist to learn the optimal price even if demand is non-linear.