We model network formation in a firm. Agents learn about the quality of their working relationships with each other. Their good relationships become their networks. Accumulating relationships becomes increasingly costly, however. Over time agents become less open to forming relationships with...

This paper presents market-based evidence that President Trump influences expectations about monetary policy. We use tick-by-tick fed funds futures data and a collection of Trump tweets criticizing the conduct of monetary policy and consistently advocating that the Fed lower interest rates....

Blockchain technology provides decentralized consensus and potentially enlarges the contracting space using smart contracts with tamper-proofness and algorithmic executions. Meanwhile, generating decentralized consensus entails distributing information which necessarily alters the informational...

During health crises, like COVID-19, individuals are inundated with messages promoting health-preserving behavior. Does additional light-touch messaging by a credible individual change behavior? Do the features of the message matter? To answer this, we conducted a large-scale messaging campaign...

We conduct a large-scale field experiment to study competitive price discrimination in a duopoly market with two rival movie theaters. The firms use mobile targeting to offer different prices based on location and past consumer activity. A novel feature of our experiment is that we test a range...

The pricing and advertising of tied add-ons and overages have come under increasing scrutiny. Working with a large Turkish bank to test SMS direct marketing promotions to 108,000 existing holders of "free" checking accounts, we find that promoting a large discount on the 60% APR charged for...

We model social media as collections of users producing and consuming content. Users value consuming content, but doing so uses up their scarce attention, and hence they prefer content produced by more able users. Users also value receiving attention, creating the incentive to attract an...

Using newly validated data on geographic migration networks, we study how labor demand shocks in the United States propagate across the border with Mexico. We show that the large exogenous decline in US employment brought about by the Great Recession affected demographic and economic outcomes in...

We analyze the diffusion of rival information in a social network. In our model, rational agents can share information sequentially, unconstrained by an exogenous protocol or timing. We show how to compute the set of eventually informed agents for any network, and show that it is essentially...

We present a model of online content sharing where agents sequentially observe an article and must decide whether to share it with others. The article may contain misinformation, but at a cost, agents can fact-check it to determine whether its content is entirely accurate. While agents derive...