Theoretical Economics

Anticomonotonicity, the natural counterpart to comonotonicity, provides a useful multi-faceted tool. It generalizes classical results on risk aversion, bookmaking, arbitrage, Anscombe-Aumann SEU, and Cauchy’s equation, and gives new ambiguity models https://t.co/hhqJ0rFBUx https://t.co/ts8p5DnSAE

This paper derives the subdifferential theorem – any conservative monotone correspondence (e.g. demand) is the subdifferential of a convex potential (e.g. indirect utility) – and uses it to characterize demand in economies with indivisible goods https://t.co/TEkf2nPeu1 https://t.co/PUP50ZGuKw

We introduce a notion of substitutability for correspondences and establish a monotone comparative static result, unifying results concerning inverse isotonicity, the identification of demand, monotone comparatives statics, matching, and hedonics https://t.co/QIsXPnJZ5l https://t.co/gXu9Xi7Tl6

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What is the meaning of Pareto optimality when all we know about agents is their past consumption decisions? The paper provides an answer in the form of an empirical analogue of the Pareto relation https://t.co/ysxsiq5elJ https://t.co/Np1z4vepo3

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Theoretical Economics Volume 19, Issue 4 (November 2024) is now online https://t.co/LT8bO4sxxp https://t.co/6HfX7gr9f0

Macro and Finance research highlights the importance of separating intertemporal substitution from risk aversion. Stochastic Impatience limits this separation, ruling out all commonly used parameters in Epstein-Zin & Hansen-Sargent models https://t.co/tRPvdvfQIY https://t.co/qXZ38RxY0j

Exploring optimal tax problems in public finance, we compare Mechanism Design and Tax Perturbation approaches. We develop a numerical algorithm to solve the multidimensional tax problem, applied to couple taxation https://t.co/r4eghDGGjK https://t.co/lFWlHeR5uQ

How to design a queue to serve long-lived agents who learn their valuation when served, and can renege? It is efficient to offer a simple binary menu: a FCFS queue, to attract low-value agents, and a SIRO queue, to attract high-value agents https://t.co/vA6E0M1krr https://t.co/Dl3eVUvdld