Information Cascades and Social Learning

Sushil Bikhchandani,omer tamuz,ivo welch, David Hirshleifer   Jul 11,2023

Working Paper No.00104-00

We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated and... Read More

Smooth versus Harsh Regulatory Interventions and Policy Equivalence

Linda Schilling   Aug 03,2023

Working Paper No.00123-00

Policy makers have developed different forms of policy intervention for stopping, or preventing runs on financial firms. This paper... Read More

Information Technology and Lender Competition

Zhiqiang Ye, Xavier Vives   Nov 02,2023

Working Paper No.00129-00

We study how information technology (IT) affects lender competition, entrepreneurs’ investment, and welfare in a spatial model. The effects of... Read More

Providing Incentives with Private Contracts

Qing Liu, Lucy White Andrea Buffa   Nov 18,2022

Working Paper No.00073-01

Agents working together to produce a joint output care about each other’s incentives. Because real world contracts are typically private... Read More

The Good, the Bad, and the Complex: Product Design with Imperfect Information

Dana Foarta, Vladimir Asriyan Victoria Vanasco   Nov 05,2019

Working Paper No.00053-00

We study the joint determination of product quality and complexity in a rational setting. We introduce a novel notion of... Read More

Published: AEJ-Micro, 2023, 15(2), 187-226

Only time will tell: A Theory of Deferred Compensation

Florian Hoffmann, Roman Inderst,Florian Hoffmann, Roman Inderst, Marcus Opp   Oct 08,2017

Working Paper No.00015-00

We characterize optimal contracts in settings where the principal observes informative signals over time about the agent's one-time action. If... Read More