This study examines the impact of government financial assistance during the COVID-19 pandemic on the demand for crypto assets and the effect of crypto interest on the stated goals of stimulus programs. Government lending to small businesses (PPP) significantly increased households’ interest...

This primer offers a hands-on accessible guide to writing and estimating structural models. We review commonly-used methodologies, including dynamic programming, maximum likelihood, generalized and simulated method of moments, conditional choice probabilities as well as tools to compute standard...

We show that, in a multi-agent contract setting, the principal can effectively rule out tacit collusion among agents (i.e., “bad” equilibrium) by posting permanent job openings to an external labor market. That is, a simple “market-like” employment mechanism can yield collusion-proof...

We examine the impacts of ethical declarations on market transactions through a controlled laboratory experiment, where privately-informed sellers issue a public report prior to a first-price auction. We find that while signing an ethical statement does not reduce misreporting by sellers, it...

How should a firm measure a productive asset used as collateral in a credit agreement? To answer this question, we develop a model in which firms borrow funds subject to collateral constraints. We characterize the qualities of optimal asset measurements and analyze their interactions with...

Broman (89) analyzes the mixed Nash equilibria of the split-the-difference mechanism over countable sets. She leaves as an open question whether there may be mixed equilibria over uncountable sets with singular parts. In this note, I propose such an equilibrium the support of the strategies is...

Recently, Batabyal (2005) has analyzed a game model of dowry determination in which a mediator plays a key role. Batabyal's analysis shows that the equilibrium dowry offers from the bride and the groom optimally trade off the desire to make an assertive offer with the likelihood that this offer...

Broman (89) analyses the mixed Nash equilibria of the split-the-difference mechanism over countable sets. She leaves as an open question whether there may be mixed equilibria over uncountable sets with singular parts. In this note, I propose such an equilibrium the support of the strategies is...