Learn More
This paper presents a new class of tests for hypothesis testing problems with a boundary-sufficient statistic: the Efficient Conditionally Similar tests (ecs). The paper focuses on two-sided testing problems with nuisance parameters, but the theory here developed can be applied more generally. The first part of this paper shows that the new testing(More)
This paper shows that in online auctions like eBay, if bidders can only place bids at random times, then many different equilibria arise besides truthful bidding , despite the option to leave proxy bids. These equilibria can involve gradual bidding, periods of inactivity, and waiting to start bidding towards the end of the auction-bidding behaviors common(More)
We extend the folk theorem of repeated games to two settings in which players' information about others' play arrives with stochastic lags. In our first model, signals are almost-perfect if and when they do arrive, that is, each player either observes an almost-perfect signal of period-t play with some lag or else never sees a signal of period-t play. The(More)
Motivated by the rise of social media, we build a model studying the effect of an economy's potential for social learning on the adoption of innovations of uncertain quality. Provided consumers are forward-looking (i.e. recognize the value of waiting for information), equilibrium dynamics depend non-trivially on qualitative and quantitative features of the(More)
This paper shows that in infinite-horizon asynchronous-move battle of the sexes games, for a full-dimensional set of payoff specifications, there is an intermediate range of discount rates for which every subgame perfect Nash equilibrium induces the same unique limit outcome. The latter is one of the pure Nash equilibria of the stage game, and play is(More)
This paper presents a new class of tests for hypothesis testing problems with a notable feature: a boundary-sufficient statistic. Examples include testing in Linear Instrumental Variables Regression, testing in a class of weakly identified Generalized Method of Moments models, and testing for dynamic effects in a Structural Vector Autoregression identified(More)
AAAAAA. is paper develops a model of costly information acquisition, focus-ing on an application to scientiic research. When research protocols are not fully transparent, scientists are incentivized to make their experiments more susceptible to false positives, despite their preference for beeer information. On the other hand, non-transparency can induce a(More)
  • 1