Equilibrium in Production Chains with Multiple Upstream Partners

Empirical bias of extreme-price auctions: analysis

We advance empirical equilibrium analysis (Velez and Brown, 2020, arXiv:1907.12408) of the winner-bid and loser-bid auctions for the dissolution of a partnership. We show, in a complete information environment, that even though these auctions are essentially equivalent for the Nash equilibrium prediction, they can be expected to differ in fundamental ways when they are operated. Besides the direct policy implications, two general consequences follow. First, a mechanism designer who accounts for the empirical plausibility of equilibria may not be constrained by Maskin invariance. Second, a mech…

生产网络中的刚性与默认

Rigidity and default in production networks

本文研究了在信息刚性和外部债务下，生产网络中生产率冲击的传递问题，证明了在比例冲击传递下存在唯一的瓦尔拉斯刚性均衡，并展示了刚性如何影响福利和债务成本。

内生网络博弈

Games on Endogenous Networks

本研究提出内生网络博弈框架，结合纳什均衡与成对稳定性，揭示稳定网络在特定条件下呈有序重叠团或嵌套分裂图结构，并应用于地位竞争、匹配模型及群体设计后果分析。