I examine the circumstances under which a sophisticated time-inconsistent decisionmaker (i) will not or (ii) need not severely miscoordinate her behavior across time, in the sense of following a course of action which fails to be Pareto-optimal for the sequence of temporal selves of the...

Our society can benefit immensely from algorithmic decision-making and similar types of artificial intelligence. But algorithmic decision-making can also have discriminatory effects. This paper examines that problem, using online price differentiation as an example of algorithmic...

There is great interest in understanding the value of data, and different empirical approaches have begun to be explored, in the academic literature and in commercial contexts. However, the existence of informational externalities and the non-rival character of data immediately imply that...

We develop a theoretical model to study the welfare effects of libertarian paternalism on information acquisition, social learning, and financial decision-making. Individuals in our model are permitted to appreciate and use the information content in the default options set by a social planner....

We study optimal testing to inform quarantine decisions for a population exhibiting a heterogeneous probability of carrying a pathogen. Because test supply is limited, the planner may choose to test a pooled sample, which contains the specimens of multiple individuals (Dorfman, 1943). We...

We study optimal testing to inform quarantine decisions for a population exhibiting a heterogeneous probability of carrying a pathogen. Because test supply is limited, the planner may choose to test a pooled sample, which contains the specimens of multiple individuals (Dorfman, 1943). We...

This article analyzes a technology adoption process in which the effect of informational spillover interacts with network externalities. The interplay of informational externalities and payoff interdependency induces risk-averse and clustering behavior in the technology-adoption process. The...

This paper builds an innovative composite world trade cycle index (WTI) by means of a dynamic factor model to monitor and perform short-term forecasts in real time of world trade growth of both goods and (usually neglected) services. The selection of trade indicator series is made using a...

This paper builds an innovative composite world trade cycle index (WTI) by means of a dynamic factor model to perform short-term forecasts of world trade growth of both goods and (usually neglected) services. The selection of trade indicator series is made using a multidimensional approach,...

Boom and bust or overshoot and collapse dynamics are common among firms in a large range of different industries. The underlying cognitive and behavioral factors responsible for strategic decisions driving boom and bust dynamics include misperceptions of feedback, attribution errors, and the...