Why are some people more optimistic about their life than others? Literature on locus of control suggests that optimism is associated with the belief that one's life outcomes are controlled by internal factors, such as ability, instead of external factors, such as powerful others or chance....

We develop a model of information exchange through communication and investigate its implications for information aggregation in large societies. An \textit{underlying state} determines payoffs from different actions. Agents decide which others to form a costly \textit{communication link} with,...

There are many economic environments in which an object is offered sequentially to prospective buyers. It is often observed that once the object for sale is turned down by one or more agents, those that follow do the same. One explanation that has been proposed for this phenomenon, which goes...