We analyze the implications of the governance structure in academic faculties for their recruitment decisions when competing for new researchers. The value to individual members through social interaction within the faculty depends on the average status of their fellow members. In recruitment...

In many instances, both voters and politicians are imperfectly informed about which policies are optimal. We analyze politicians’ policy choice in such situations. A distinctive element of our analysis is that we investigate how the strategic sophistication of voters’ beliefs about...

The recent rise of big data and artificial intelligence (AI) is changing markets, politics, organizations, and societies. It also affects the domain of research. Supported by new statistical methods that rely on computational power and computer science --- data science methods --- we are now...

We study the capacity of business associations|private, formal, noncommercial organizations designed to promote the common business interests of their members|to support contract enforcement and collective action. Inspired by recent empirical literature, our theoretical framework connects the...