This paper evaluates the inefficiency that risk aversion introduces into a congestion network. Monopoly pricing scheme then evaluated to see, under what conditions, efficiency may be restored.
Jan, 2025
This paper develops a distributional welfare analysis framework for latent utility models with additively separable unobserved heterogeneity. After first establishing a distributional aggregation theorem and extending the Williams-Daly-Zachary (WDZ) theorem, we discuss our framework within the context of compensated variation and extend our results to account for choice set modifications.
Jan, 2025
Analyzes the effect that communication between players has in a global game. Theory is first developed and then tested against experimental data that is collected in a lab.
Jan, 2025