Working Papers

Rational Inattention and Endogenous Volatility: A Large Deviation Approach (with Takashi Ui)

• • Slides

  • Does rational inattention create endogenous volatility in large economies?

Elections with Opinion Polls: Information Acquisition and Aggregation (with Andrei Gomberg)

• • Preprint (2024 September) and online appendix

  • Replication codes

  • Opinion polls encourage voters to learn about elections and help them make the correct decision.

Two-Sided Markets and Restricted Boltzmann Machines (with Romans Pancs)

• Preprint (2024 September)

• Replication codes

• We formally relate two-sided markets to neural networks of Restricted Boltzmann Machines, importing machine-learning tools.

Recursive Rational Inattention Is Entropic (with Henrique De Oliveira)

• • Slides

  • If the cost of information makes a value function recursive then the cost must be entropic.

Enforcement against Organized Crime Increases Organized Fraud: Evidence from the Yakuza (with Takuma Kamada)

• • Preprint (2022 August)

  • Enforcement on the yakuza (Japanese crime syndicates) has increased organized crime.

Rational Inattention in Games

• • JMP version and JMP slides

  • To be subsumed by the following two papers:

    • Robustness of Equilibria to Information Acquisition

    • Rational Inattention and Endogenous Volatility: A Large Deviation Approach, with Takashi Ui.

Publications

Bargaining and Information Acquisition (with Kalyan Chatterjee and Miaomiao Dong)

• American Economic Journal: Microeconomics (forthcoming)

• Preprint

• A buyer can extract the full surplus from a seller with bargaining power if the buyer has cheap access to information.

Multi-Agent Persuasion: Leveraging Strategic Uncertainty

• • International Economic Review (2022)

  • Preprint

  • A principal can persuade multiple agents to take risk-dominant actions by manipulating their higher-order beliefs.

Third-Party Policing Approaches against Organized Crime: An Evaluation of the Yakuza Exclusion Ordinances (with Takuma Kamada)

• • Journal of Quantitative Criminology (2021)

  • Preprint

  • Third-party policing against the yakuza (Japanese crime syndicates) has weakened the yakuza.

Repeated Coordination with Private Learning (with Pathikrit Basu, Kalyan Chatterjee, and Omer Tamuz)

• • Journal of Economic Theory (2020)

  • Preprint

  • While playing a repeated coordination game, players commonly learn a state and also can coordinate efficiently.