Members of different social groups often hold widely divergent public beliefs regarding the nature of the world in which they live. We develop a model that can accommodate such public disagreement, and use it to explore questions concerning the aggregation of distributed information and the...

We consider a rationally inattentive screener who evaluates a pool of candidates composed of distinct and observable social categories. There is heterogeneity across categories in the costs of being screened, the degree of bias faced in the screening process, and the costs of investment in...

This paper considers finitely repeated games played by procedurally rational players, who sample their available alternatives and use realized payoffs as a basis for strategy selection. The corresponding solution concept is that of (payoff) sampling equilibrium, which is a distribution over...

Wealth in the United States rose and fell precipitously during the first decade of this century for all major ethnic groups, but the fluctuations in Hispanic wealth were especially extreme. We show that household characteristics and location can account for the Hispanic experience during the...

Consider a group of individuals with unobservable perspectives (subjective prior beliefs) about a sequence of states. In each period, each individual receives private information about the current state and forms an opinion (a posterior belief). She also chooses a target individual and observes...

We examine transaction-level data from Intrade's 2012 presidential winner market for the entire two-year period for which trading occurred. The data allow us to compute key statistics, including volume, transactions, aggression, directional exposure, holding duration, margin, and profit for each...

This paper uses an experimental field approach to investigate the pro-social preferences and behavior of social services providers and the behavior of potential beneficiaries in Bogota, Colombia. Field experiments were conducted using games including a newly designed Distributive Dictator Game...

Those general perceptions of the macroeconomic environment that are specifically related to the stability properties of the system may be referred to as regime perceptions. Such perceptions affect economic behavior, and hence determine actual stability properties or regime realizations. A fixed...

We consider the properties of a cost function based automated market maker aggregating the beliefs of risk-averse traders with finite budgets. Individuals can interact with the market maker an arbitrary number of times before the state of the world is revealed. We show that the resulting...

This paper explores the manner in which the structure of a social network constrains the level of inequality that can be sustained among its members. We assume that any distribution of value across the network must be stable with respect to coalitional deviations, and that players can form a...