This paper studies a stability notion and matching processes in the job market with incomplete information on the workers' side. Each worker is associated with a type, and each firm cares about the type of her employee under a match. Moreover, firms' information structure is described by...

Predictions under common knowledge of payoffs may differ from those under arbitrarily, but finitely, many orders of mutual knowledge; Rubinstein's (1989)Email game is a seminal example. Weinstein and Yildiz (2007) showed that the discontinuity in the example generalizes: for all types with...

Agents in a network want to learn the true state of the world from their own signals and their neighbors' reports. Agents know only their local networks, consisting of their neighbors and the links among them. Every agent is Bayesian with the (possibly misspecified) prior belief that her local...

We study a principal--agent model. The parties are symmetrically informed at first; the principal then designs the process by which the agent learns his type and, concurrently, the screening mechanism. Because the agent can opt out of the mechanism ex post, it must leave him with nonnegative...

We provide evidence on narratives about the macroeconomy-the stories people tell to explain macroeconomic phenomena-in the context of a historic surge in inflation. In surveys with more than 10,000 US households and 100 academic experts, we measure economic narratives in open-ended survey...

We examine the evolution of spatial house price dispersion during Germany's recent housing boom. Using a dataset of sales listings, we find that house price dispersion has significantly increased, which is driven entirely by rising price variation across postal codes. We show that both price...

This paper investigates the relationship between extreme weather conditions and the risk of flooding-induced harvest failure in Nigerian agriculture using a probit model. I use household-level survey and gridded weather data to exploit weather variation across time and space. Risk of harvest...

We develop a model of digital ecosystems based on the assumption that a multimarket firm can use a sale in or data from one market to steer users toward its products in other markets. Due to this "cross-market leverage," a market leader at an "access point" (where users begin their online...

This paper leverages a novel survey among German senior government officials to investigate fiscal responses to monetary policy shocks. Using randomized vignette treatments, we present officials with scenarios of increased government interest costs and analyze their expected fiscal adjustments....

Is it possible to improve women's agency by providing information about their abilities? Using a lab experiment in the field, I study how perceived abilities and gender stereotypes shape intra-household dynamics. I use an incentivized decision-making game with 525 married couples from 42 rural...