Zhen Zhou, Hongda Zhong Jan 18,2025
Working Paper No.00147-00
Many regulations aim at promoting coordination among creditors in bankruptcy by ex post restricting their ability to exit distressed firms.... Read More
Jordan Martel May 01,2025
Working Paper No.00151-00
How should we expect firms to communicate with their shareholders in the presence of uncertainty? This paper studies a model... Read More
Guner Velioglu, Semih Uslu Feb 06,2024
Working Paper No.00138-00
We develop a dynamic model of a multi-asset over-the-counter (OTC) market that operates via search and bargaining and empirically test... Read More
Xiaohong Huang,Siguang Li,Jian Ni, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00143-00
We revisit the relationship between firm competition and real efficiency in a novel setting with informational feedback from financial markets.... Read More
Sushil Bikhchandani,omer tamuz,ivo welch, David Hirshleifer Jul 11,2023
Working Paper No.00104-00
We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated and... Read More
Thomas Philippon, Cecilia Parlatore Sep 25,2023
Working Paper No.00074-01
We study the optimal design of stress scenarios. A principal manages the unknown risk exposures of agents by asking them to... Read More
Alice Hsiaw, Ing-Haw Cheng Nov 14,2022
Working Paper No.00047-01
Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More
Chaojun Wang Nov 14,2022
Working Paper No.00084-00
On many important multi-dealer platforms, customers mostly request quotes from very few dealers. I build a model of multi-dealer platforms... Read More
Alice Hsiaw, Ing-Haw Cheng Nov 15,2022
Working Paper No.00086-00
Why does misinformation persist, and how does it distort the long-run beliefs and actions of rational agents? Suppose receivers see... Read More
Qing Liu, Lucy White Andrea Buffa Nov 18,2022
Working Paper No.00073-01
Agents working together to produce a joint output care about each other’s incentives. Because real world contracts are typically private... Read More