Information Cascades and Social Learning

Sushil Bikhchandani,omer tamuz,ivo welch, David Hirshleifer   Jul 11,2023

Working Paper No.00104-00

We review the theory of information cascades and social learning. Our goal is to describe in a relatively integrated and... Read More

Voters, Bailouts, and the Size of the Firm

Linda Schilling   Aug 03,2023

Working Paper No.00122-00

I present a political-economic theory to explain bailouts for failing firms in the presence of non-voters (foreigners). The governing... Read More

A Theory of Liquidity Spillover Between Bond and CDS Markets

Batchimeg Sambalaibat   Jul 07,2021

Working Paper No.00072-00

I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that... Read More