"A Definition of Unforeseen Contingencies" Abstract The paper proposes a choice-theoretic definition of unforeseen contingencies. It is proved that if preference admits a recursive utility representation all contingencies are necessarily foreseen. The paper proceeds axiomatically to develop a nonrecursive model of choice in which some events might be initially unforeseen. The process of updating implied…

"Non-Exclusive Competitionunder Adverse Selection" Abstract A seller of a divisible good faces several identical buyers. The quality of the good may be low or high, and is the seller's private information. The seller has strictly convex preferences that satisfy a single-crossing condition. Buyers compete by posting menus of non-exclusive contracts, so that the seller can…

"Efficiency in Repeated Two-Action Games with Local Monitoring" ASTRACT The paper discusses community enforcement in infinitely repeated two-action games with local monitoring. Each player interacts with and observes only a fixed set of partners, of whom he is privately informed. The main result shows that for generic beliefs efficiency can be sustained in a sequential equilibrium in which strategies are…

“Who is (More) Rational?” Abstract Revealed preference theory offers a criterion for decision-makingquality: if decisions are high quality then there exists a utility functionthat the choices maximize. We conduct a large-scale field experimentthat enables us to test for consistency with utility maximization. Wefind that high-income and high-education subjects display greater levels of consistency than low-income…

"Unobserved Heterogeneity in Matching Games"

"Social networks and the process of globalization" Abstract We propose a stylised dynamic model to understand the role of social networks in the phenomenon we call "globalization." This term refers to the process by which even agents who are geographically far apart come to interact, thus overcoming what would otherwise be a fast saturation of…

"Simple Markov-Perfect Industry Dynamics" Abstract This paper develops a tractable model for the computational and empirical analysis of infinite-horizon oligopoly dynamics. It features aggregate demand uncertainty, sunk entry costs, stochastic idiosyncratic technological progress, and irreversible exit. We develop an algorithm for computing a symmetric Markov-perfect equilibrium quickly by finding the fixed points to a finite…

"Sensitivity analysis in a likelihood model"

"Child-Adoption Matching: Preferences for Gender and Race"

"Mental Processes and Decision Making"

"Testing for Altruism and Social Pressure in Charitable Giving" and "The Role of Theory in Field Experiments"

"Price Competition under Limited Comparability"

"Distortions of Asymptotic Confidence Size in Locally Misspecified Moment Inequality Models"

"Delay and Information Aggregation in Stopping Games with Private Information"

"Birth Cohort and the Black-White Achievement Gap: the Roles of Access and Health Soon after Birth"

"Estimating Marginal Treatment Effects of Transfer Programs on Labor Supply"

"Estimation of Nonparametric Models with Simultaneity"

"Intertemporal Utility and Correlation Aversion"

"How Much Did German-jewish Émigrés Benefit U.S. Invention?"