Microeconomic Theory/Financial Economics Workshop

Coordinator: Jan Werner

Fridays 1:30pm-3:15pm @Blegen Hall 220

Spring 2008 Schedule

May 9 Christoph Mueller Robust Implementation and Strategic Distinguishability: Do Dynamics Help?

May 2 Grzegorz Klima Hedonic Markets

Apr 25 Evsen Turkay Persuasion Games with Two-Sided Uncertainty

Apr 18 Adam Slawski Speculative Trading

Apr 4 Josh Miller The Control Principle

Mar 28 Josh Miller The Control Principle

Mar 21 Spring Break

Mar 14 Ayca Ozdogan Collusion in a Two-Agent Hidden-Action Model

Mar 7 Chun (Summers) Xia Internet Economics: Investment and Pricing

Feb 29 Adam Slawski & Christoph Mueller Discussions

Feb 22 Hakan Inal Equilibrium with Discrete Goods (Literature Review)

Feb 15 Hakan Inal An Extension of Ausubel’s Auction for Heterogeneous Discrete Goods

Feb 1 Discussions

Jan 25 Discussions

Fall 2007 Schedule

Dec 7 Nick Lei Guo First order risk aversion and limited stock market participation over life cycle

Nov 30 Josh Miller The difficulty of being fair

 Nov 16 Ayca Ozdogan Asset Trading in Repeated Setting, with Reputation
 Nov 7 Evsen Turkay Two Sided Uncertainty in Persuasion Games

Oct 19 Mehmet Yigit Gurdal Advice in the Investment Game

Oct 12 Igor Kojanov The Equity Capital Puzzle: A Consumption-Based Model

 Oct 5 Suhas Saha Asset Pricing with Heterogeneous Risk Aversion and Portfolio Constraints

Sep 28 Murat Ali Cengelci Simple Collective Identity Functions

Sep 21 Adam Slawski Speculative Trading with Bayesian Learning

 Sep 14 Chun (Summers) Xia Communicating to be Over- and Underconfident

Spring 2007 Schedule

May 11 Nevzat Eren Incentives under Collusion in a Two-Agent Hidden-Action Model of a Financial Enterprize

May 2 Juan Cardenas Liquidity creation and internal capital markets in banking organizations
Apr 25 Evsen Turkay Communication with Many Signals

Apr 6 Hakan Inal “A Walrasian Tatonnement for Discrete Goods”

Mar 30 Chun Xia "Social Communication and Security Market Under- and Overreaction"

Mar 9 Rui Cao Mandatory and Voluntary trade disclosure

Mar 2 Nevzat Eren Repeated moral hazard with investment

Feb 23 Mehmet Gurdal Effect of Quality Signaling on Firm Behavior

Jan 26 Suhas Saha Asset pricing with portfolio constraints and heterogeneous beliefs

Fall 2006 Schedule

Dec 15 Hakan Inal An Ex Post Efficient Auction Mechanism for Heterogeneous Objects

Nov 17 Rui Cao Voluntary Trade Disclosure and Insider Trading

Nov 13 Juan A. Cardenas On Dynamic Theory of Optimal Capital Structure and Executive Compensation (BlegH 130, Monday 3:30pm-5:00pm)

Oct 27 Chun Xia Communicating to Be Over- and Underconfident

Oct 20 Evsen Turkay Information Transmission with Multiple Attributes

Oct 13 Mehmet Gurdal & Josh Miller Das Experiment

Oct 9 Kate Ko Implementing Arrow-Debreu Equilibria in the Theory of Continuous Trading (Monday 15:30-17:00, Blegen Hall 130)

Sep 29 Nevzat Eren Manipulative Rumors & Big Impacts of Small Misperceptions

Sep 22 Mehmet Gurdal Effect of Quality Signaling on Observed Prices

Sep 15 Chun Xia Social Communication and Confidence Evolution in Financial Networks

Sep 8 Suhas Saha Equilibrium Impact of Capital Requirement Regulation

Spring 2006 Schedule

May 4 Josh Miller Asymmetric Updating: An Experiment

Apr 27 Evsen Turkay Information Transmission with Multiple Aspects

Apr 13 Kate Ko Housing and Asset Prices

Mar 30 Suhas Saha Asset Prices under Transaction Costs in Continuous-Time Markets

Mar 23 Hakan Inal The Ausubel Auction and Interdependent Values

Mar 9 Rui Cao “Short Sale Constraint in Chinese Stock Market”

Mar 2 Koji Kusuda “A recursive utility with reference probability under jump-diffusion information”

Feb 24 Chun Xia “Managerial Incentives, Misreporting, and the Timing of Social Learning” by Andre Hertzberg

Feb 17 Suhas Saha “Term Structure under Robust Control”

Feb 10 Nevzat Eren “Rumors, small misperceptions, and market manipulation” with Han Ozsoylev

Feb 3 Discussion

Fall 2005 Schedule

Nov. 21 Nicolas Figueroa Auction Design with Income Effects (joint with Nevzat Eren) (Blegen Hall 255, 3:30pm-5:00pm)

Nov. 2 Hakan Inal The Ausubel Auction and Interdependent Values (Blegen Hall 435, 11:30am-1:00pm)

Oct. 28 Suhas Saha Optimal Investment with Stochastic Labor Income

Oct. 21 Sasha Vostroknutov Preferences over Status and the Behavior in Games

Oct. 14 Chun Xia Communicating to Be Overconfident or Underconfident

Oct. 7 Koji Kusuda Introduction to Robust Control-based Utility with Ambiguity Aversion

Sept. 30 Rui Cao Public Disclosure with Normal Insiders

Sept. 23 Nicolas Figuera Optimal Multi Unit Auctions: Who Gets what Matters (joint with Vasiliki Skreta)

Sept. 16 Nevzat Eren Communication Dilemma in Speculative Markets

Sept. 9 Organizational Meeting

Spring 2005 Schedule

May 6 Shino Takayama Dynamics of Return Volatility, Bid-Ask Spread and Trading Volume

Apr. 29 Rui Cao and Chun Xia Information Transmission and Insider Trading in Financial Networks

Apr. 22 Camelia Bejan Efficiency in Large Economies

Apr. 15 Borys Grochulski More on optimal bankruptcy regulation in environments with private information

Apr. 8 Arnold Polanski Is the General Public Licence a Rational Choice?

Apr. 1 Nevzat Eren Selling to Risk-Lover Buyers (joint with Nicolas Figuera)

Mar. 25 Sasha Vostroknutov Non-probabilistic decision making with memory constraints

Mar. 11 Hakan Inal Public Goods with Random Exclusion

Mar. 4 Nicolas Figuera Optimal Auction Design for Multiple Objects with Externalities

Feb. 25 Rui Cao Social Interaction and Network Formation in Financial Markets: Part II

Feb. 18 Chun Xia Social Interaction and Network Formation in Financial Markets

Feb. 11 Shino Takayama A Dynamic Analysis of Bid-Ask Spreads

Feb 4 Borys Grochulski Bankruptcy in economies with Adverse Selection

Jan. 28 Camelia Bejan Production under Uncertainty, and Financial Innovation

Fall 2004 Schedule

Dec. 3 Chun Xia Social Learning and Network Formation in Financial Markets: Kyle Meets Bala and Goyal

Nov. 19 Morimitsu Kurino Coalition-Formation Equilibria: A Definition

Nov. 12 Rui Cao On the survival of irrational traders and the price impact

Nov. 5 Hakan Inal Enforcement of Private vs. Public Externalities

Oct. 22 Henry Ai Information Quality and Equity Premium in a Production Economy

Oct. 15 Shino Takayama A Dynamic Analysis of Bid-Ask Spreads with Multiple order Sizes

Oct. 8 No Seminar

Oct. 1 Camelia Bejan Production under Uncertainty and Financial Innovation

Sept. 24 Borys Grochulski Bankruptcy in Economies with Adverse Selection

Sept. 17 Florin Bidian Multiperiod Partially Revealing Rational Expectations Equilibria

Spring 2004 Schedule

May 7 Henry Ai Dynamic Decision Making Under Ambiguity: A Review of Recent Developments

Apr 30 Chun Xia Information Leakage and Market Efficiency, Markus Brunnermeier

Apr 23 Salam Abdus Self-enforcing Guaranteed Renewability of Health Insurance

Apr 16 Umut Keskin Matching and Search

Apr 9 Jinxiong Li Isotone Equilibrium in Games of Incomplete information, David McAdams

Mar. 26 Camelia Bejan Production under Uncertainty, and Financial Innovation

Mar. 12 Borys Grochulski Decision-making with imperfect memory

Mar. 5 Hakan Inal On Economics of Law and Enforcement

Feb. 27 Henry Ai Risk Aversion for Rank-Dependent Expected Utility

Feb. 20 Shino Takayama and Han Ozsoylev Bid-Ask Spreads and Multiple Order Sizes

Feb. 13 Adam Galambos “Revealed Preference: Gul, Pesendorfer, or Kreps”

Feb 6 Rui Cao Temptation and self-control, Faruk Gul and Wolfgang Pesendorfer, Econometrica 2001, vol 69, 6 pg 1403-35

Jan. 30 Borys Grochulski "Competitive Pooling: Rothschild-Stiglitz Reconsidered," Quarterly Journal of Economics 2002, pp.1529-1570, by Dubey, P. and J. Geanakoplos.

Fall 2003 Schedule

Dec 17 Salam Abdus TBA

Dec. 12 Umut Keskin Matching Theory

Nov. 14 Shino Takayama Bid-Ask Spreads

Nov. 7 Boris Grochulski Inequality

Oct. 24 Florin Bidian Fragility of Bubbles

Oct. 17 Yuzhe Zhang APS Counterexample

Oct. 15 Camelia Bejan Production decisions under uncertainty, and financial innovation (2:00pm-3:30pm, Blegen Hall 145)

Oct. 3 Hengjie Ai Risk Aversion without Independence Axiom

Sept. 26 Adam Galambos New Developments in Revealed Preference in Game Theory

Sept. 19 Han Ozsoylev Knowing Thy Neighbor

Sept. 12 David Benjamin Fast Bargaining and Bankruptcy

Spring 2003 Schedule

Jun. 12 Han Ozsoylev Knowing Thy Neighbor: Rational Expectations and Social Interaction in Financial Markets, @ Heller Hall 969, 12:00pm

Apr 25 Mehmet Barlo Incorporating Strategic Behavior in Non-Atomic Games

Apr 18 Roberto Monte Bayesian-Nash Linear Equilibria for Insider Trading in Continuous Time

Apr 11 Adam Galambos Revealed Preference in Game Theory

Apr 4 Adrian Peralta-Alva Accuracy properties of the statistics from numerical simulations

Mar. 14 Han Ozsoylev Knowing Thy Neighbor: Rational Expectations Equilibrium when Traders are Not Anonymous

Mar. 7 Florin Bidian On the Fragility of Bubbles

Feb. 28 Yuzhe Zhang Stochastic Optimal Growth: a Non-Density Approach

Feb. 14 Borys Grochulski On Equilibrium with Asymmetric Information

Feb.7 Camelia Bejan and Jan Werner Rabin's paradox, or is there one?

Fall 2002 Schedule

Dec. 4 Tetsuya Adachi Optimal consumption and portfolio decisions with jump risk

Nov. 27 Han Ozsoylev Social Coordination and Interaction Paterns

Nov. 2 Camelia Bejan Limit points of Cournot-Walras equilibria

Oct. 25 Borys Grochulski On Efficient Distribution under Private Information

Oct. 18 Patrick Leoni Does Speculative Trade Disappear as Beliefs Become Correct?

Oct. 11 Mehmet Barlo Time-Dependent Bounded-Recall Equilibria in Discounted Repeated Games.

Oct. 4 Han Ozsoylev Asymmetry and Self-fulfilling Nature of Crashes and Frenzies.

Sep. 27 Koji Kusuda General Equilibrium, CAPM, and Option Pricing Under Jump-Diffusion Uncertainty.

Sep. 20 Adrian Peralta-Alva A Quantitative Study of the Impact of Technological Change on the Stock Market in the Mid 1970's

Sep. 16 Adam Galambos Revealed preference and Game Theory

Spring 2002 Schedule

May 10 -12 Spring 2002 NBER Conference on General Equilibrium Theory

May 3 Koji Kusuda CCAPM and option pricing under jump-diffusion uncertainty

Apr. 26 Mehmet Barlo Equilibria in Nonatomic Games

Apr. 19 Camelia Bejan Equilibrium with Financial Innovation

Apr. 5 Gui Carmona Monetary Trading as an Optimal Social Institution

Mar. 29 Thorsten Koeppl Decentralization of Optimal Allocations with Endogenous Choice of Enforcement

Mar. 15 Han Ozsoylev Asymmetry of Bull Markets and Bear Markets

Mar. 8 Adam Galambos Revealed preference and implementation theory

Feb. 22 Borys Grochulski Optimal Bankruptcy Code

Feb. 15 Paul Kramp Optimal IPO pricing in a model with cascades

Feb. 8 Jan Werner and Adam Galambos Aversion to Mean-Independent Risk for Expected Utility with Multiple Priors.

Feb. 1 Jan Werner What's wrong with expected utility?

Fall 2001 Schedule

Nov. 16 Camelia Bejan The objective of the firm

Nov. 9 Mehmet Barlo Coalition Proofness in Principal Agent Models

Nov. 2 Patrick Leoni Does competition in financial markets force agents to make accurate predictions?

Oct. 26 Han Ozsoylev Speculation, Fundamentals and Market Crashes

Oct. 12 Thor Koeppl 'Risk Sharing with Endogenous Enforcement'

Sept.28 Adam Galambos 'Revealed Preference in Game Theory'

Sept.21 Jin Kim 'Consortium with Vickrey Bidding Assignment'

Sept.14 Gui Carmona 'A Simple Proof of Theorem 1 of Harris, C. (1985), "Existence and Characterization of Perfect Equilibrium in Games of perfect Information", Econometrica, 53, 613-628.