期刊： ECONOMETRICA, 2021; 89 (3)
A profit-maximizing seller has a single unit of a good to sell. The bidders have a pure common value that is drawn from a distribution that is commonl......
期刊： ECONOMETRICA, 2021; 89 (3)
How much capital should financial intermediaries hold? We propose a general equilibrium model with a financial sector that makes risky long-term loans......
期刊： ECONOMETRICA, 2021; 89 (3)
How does an economy's capital respond to aggregate productivity shocks when firms make lumpy investments? We show that capital's transitional dynamics......
期刊： ECONOMETRICA, 2021; 89 (4)
This note points out that the proof of Theorem 1, the main theorem, in Ergin (2002) needs two corrections. We provide two counterexamples to Ergin's (......
期刊： ECONOMETRICA, 2021; 89 (4)
We characterize the relationship between the distributions of two variables linked by a structural model. We then show that, in models of heterogeneou......
期刊： ECONOMETRICA, 2021; 89 (4)
We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying "true" preferen......
期刊： ECONOMETRICA, 2021; 89 (3)
What should researchers do when their baseline model is falsified? We recommend reporting the set of parameters that are consistent with minimally non......
期刊： ECONOMETRICA, 2021; 89 (4)
We characterize the set of extreme points of monotonic functions that are either majorized by a given function f or themselves majorize f and show tha......
期刊： ECONOMETRICA, 2021; 89 (4)
We introduce a novel parametrization of the correlation matrix. The reparametrization facilitates modeling of correlation and covariance matrices by a......
期刊： ECONOMETRICA, 2021; 89 (3)
We consider estimation and inference on average treatment effects under unconfoundedness conditional on the realizations of the treatment variable and......
期刊： ECONOMETRICA, 2021; 89 (4)
This paper presents a continuous-time model of sovereign debt. In it, a relatively impatient sovereign government's hidden type switches back and fort......
期刊： ECONOMETRICA, 2021; 89 (3)
In response to a change, individuals may choose to follow the responses of their friends or, alternatively, to change their friends. To model these de......
