Prediction Markets
Surprised by the Parimutuel Odds? (with Peter Norman Sørensen), American Economic Review (2009)
The favorite-longshot bias observed in parimutuel markets is consistent with the use of private information...
Noise, Information, and the Favorite-Longshot Bias in Parimutuel Predictions (with Peter Norman Sørensen), American Economic Journal: Microeconomics (2008)
A new model of parimutuel betting with private information provides a simple explanation for the...
Aggregation of Information and Beliefs in Prediction Markets (with Peter Norman Sørensen) (2007)
Equilibrium analysis of a prediction market when traders have heterogeneous priors and private information. When...
Outcome Manipulation in Corporate Prediction Markets (with Peter Norman Sørensen), Journal of the European Economic Association, Papers and Proceedings (2007)
Analysis of the amount of outcome manipulation (and impact on prices) resulting in a simple...
Pricing and Information
Dynamic Monopoly Pricing and Herding (with Subir Bose, Gerhard Orosel, and Lise Vesterlund), RAND Journal of Economics (2006)
Dynamic pricing by a monopolist selling to buyers who learn from each other’s purchases, with...
Price Competition for an Informed Buyer (with Giuseppe Moscarini), Journal of Economic Theory (2001)
Analysis of competition for a buyer with private information on the relative quality of the...
The Value of Public Information in Monopoly (with Andrea Prat), Econometrica (2001)
When does a price-discriminating monopolist want to reveal public information to its buyers? The linkage...
Strategic Advice
Misselling through Agents (with Roman Inderst), American Economic Review (2009)
How to incentivize sales agents to sell, but not to “missell” to customers for whom...
Credulity, Lies, and Costly Talk (with Francesco Squintani and Navin Kartik), Journal of Economic Theory (2007)
Language inflation and deception result when either the receiver is credulous or the sender finds...
Professional Advice (with Peter Norman Sørensen), Journal of Economic Theory (2006)
Communication by an expert concerned about appearing to be well informed, part I—analysis of tractable...
Reputational Cheap Talk (with Peter Norman Sørensen), RAND Journal of Economics (2006)
Communication by an expert concerned about appearing to be well informed, part II—general analysis with...
The Strategy of Professional Forecasting (with Peter Norman Sørensen), Journal of Financial Economics (2006)
Framework for modeling strategic behavior of professional forecasters: (1) Concern for perceived talent leads to...
Information Aggregation in Debate: Who Should Speak First? (with Peter Sørensen), Journal of Public Economics (2001)
Dynamics of group think in a committee with members concerned about their reputation for expertise,...
Strategic Behavior and Market Design
Information Sharing in Common Agency: When is Transparency Good? (with Norbert Maier), Journal of the European Economic Association (2009)
When should principals dealing with a common agent share their individual performance measures about the...
Mergers with Product Market Risk (with Albert Banal Estanol), Journal of Economics & Management Strategy (2006)
Strategic implications of risk sharing in mergers, with predictions for the method of payment used...
The Transition to Digital Television (with Jerome Adda), Economic Policy (2005)
Conceptual and empirical framework for evaluating policies for the transition from analogue to digital television.