We present an industry classification–level model of economic activities in terms of (1) risk of the novel coronavirus spread and (2) economic contribution for the Austin, Texas, metropolitan area. Our measure combines various categories of activities that seem to lead to viral spread. We...

We generalize and correct a model of bargaining with endogenous information acquisition proposed by Dang (2008). Allowing for asymmetric information costs, we show that the opportunity to obtain information during the bargaining process can lead to inefficient outcomes when the responder's cost...

Academia faces a challenge, as activism replaces inquiry as the primary goal of the university. In particular, the growing dominance of activist academics, who explicitly reject objective inquiry, has started and will continue to constrain what information researchers can report and what ideas...

Many markets, including markets for IPOs and debt issuances, are syndicated: each winning bidder invites competitors to join its syndicate to complete production. Using repeated extensive form games, we show that collusion in syndicated markets may become easier as market concentration falls,...

The U.S. residential real estate agency market presents a puzzle for economic theory: commissions on real estate transactions have remained high for decades even though entry is frequent and costs are low. We model the real estate agency market, and other brokered markets, as a game in which...

We investigate the competitive effects of spot-price contracting, in which a buyer and seller contract to transact at a future date at the price prevailing in that market at that future date (the ``spot price''); such contracts are ubiquitous in the beef-processing industry, among others. We...