Ron Kaniel , Yizhou Xiao Lin William Cong (叢林) Dec 30,2023
Working Paper No.00136-00
A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More
Ron Kaniel , Yizhou Xiao Lin William Cong (叢林) Dec 30,2023
Working Paper No.00136-00
A pandemic or nationalism can dial back global integration as much as advancements in IT and transportation spur it. We... Read More
Kose John,Thomas Rivera, Fahad Saleh May 24,2022
Working Paper No.00076-00
We study the equilibrium level of staking in a Proof-of-Stake blockchain when investors have different trading horizons. We find that,... Read More
Jian Li. , Zhiguo He Jun 03,2022
Working Paper No.00078-00
The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We... Read More
Jian Li. , Zhiguo He Jun 03,2022
Working Paper No.00078-00
The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We... Read More
Thierry Foucault,Stefano Lovo, Jean-Edouard Colliard Oct 27,2022
Working Paper No.00081-00
We let “Algorithmic Market-Makers” (AMMs), using Q-learning algorithms, choose prices for a risky asset when their clients are privately informed... Read More
Thierry Foucault,Stefano Lovo, Jean-Edouard Colliard Oct 27,2022
Working Paper No.00081-00
We let “Algorithmic Market-Makers” (AMMs), using Q-learning algorithms, choose prices for a risky asset when their clients are privately informed... Read More
Guillermo Ordonez, Vincent Glode Nov 01,2022
Working Paper No.00082-00
We model firms' allocation of resources between surplus-creating (a.k.a., productive) and surplus-appropriating (a.k.a., rent-seeking) activities. We show that industry-wide technological... Read More
Guillermo Ordonez, Vincent Glode Nov 01,2022
Working Paper No.00082-00
We model firms' allocation of resources between surplus-creating (a.k.a., productive) and surplus-appropriating (a.k.a., rent-seeking) activities. We show that industry-wide technological... Read More
Aydogan Alti, Jonathan Cohn Nov 01,2022
Working Paper No.00083-00
We present a model in which informed experts intermediate in the market for going public by acquiring private firms and... Read More