Jing Huang,Jidong Zhou, Zhiguo He Nov 24,2020
Open banking facilitates data sharing consented by customers who generate the data, with a regulatory goal of promoting competition between... Read More
Peter DeMarzo , Zhiguo He Nov 24,2020
We characterize equilibrium leverage dynamics in a tradeoff model when the firm can continuously adjust leverage and cannot commit to... Read More
Benjamin Hebert , Barney Hartman-Glaser Jan 07,2019
We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk... Read More
Brett Green , Vladimir Asriyan William Fuchs Mar 12,2019
We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents' expectations... Read More
Semih Uslu Mar 27,20194
I develop a search-and-bargaining model of endogenous intermediation in over-the-counter markets. Unlike the existing work, my model allows for rich... Read More
Published: Econometrica, 2019, 87(6), 2079-2140Jerome Dugast, Pierre-Olivier Weill , Semih Uslu Jul 09,2019
Should regulators encourage the migration of trade from over-the-counter (OTC) to centralized markets? To address this question, we consider a... Read More
Dana Foarta, Vladimir Asriyan Victoria Vanasco Nov 05,20190
This paper explores the incentives of product designers to complexify products, and the resulting implications for overall product quality. In... Read More
Brett Green , William Fuchs , Vladimir Asriyan Nov 05,20190
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a... Read More
Luc Laeven,Alberto Martin, Vladimir Asriyan Nov 05,20190
We develop a new theory of information production during credit booms. In our model, entrepreneurs need credit to undertake investment projects,... Read More
Martin Oehmke , Adam Zawadowski Nov 18,2019
This paper presents an equilibrium theory of product complexity. Complex products generate higher potential value, but require more attention from... Read More