I build an equilibrium investment-and-marriage model to explain stylized facts about education, income, and marriage for Americans born in the twentieth century that had not been explained in a unified way. The most novel finding is a theoretical explanation for why women attend college at a...

Young women outnumber young men in cities in many countries during periods of economic growth and urbanization. This gender imbalance among young urbanites is more pronounced in larger cities. We use the gradual rollout of special economic zones across China as a quasi-experiment to establish...

Young women outnumber young men in cities in many countries during periods of economic growth and urbanization. This gender imbalance among young urbanites is more pronounced in larger cities. We use the gradual rollout of special economic zones across China as a quasi-experiment to establish...

We apply an evolutionary game theory model to explain polarization, antipathy, and political activism as a consequence of the co-evolution of individuals' ideologies and attitudes toward other ideologies. We show that the evolutionary process results in a vicious cycle with individuals becoming...

This paper suggests that the evolutionarily optimal belief of an agent's intrinsic reproductive ability is systematically different from the posterior belief obtained by the perfect Bayesian updating. In particular, the optimal belief depends on how risk-averse the agent is. Although the perfect...

I build an investment-and-marriage model to provide a new explanation of the reversed college gender gap, i.e., more women than men are going to college. The explanation is based on differential fecundity and an equilibrium marriage-market effect. The model also sheds light on gender-specific...

I build an equilibrium investment-and-marriage model to explain stylized facts about education, income, and marriage for Americans born in the twentieth century that had not been explained in a unified way. The most novel finding is a theoretical explanation for why women attend college at a...

This paper studies the use of posted prices and auctions in a large dynamic market with many short-lived sellers and long-lived buyers. Although a reserve-price auction maximizes the expected revenue, the optimal revenue decreases when the market becomes more buyer-friendly; namely, when buyers...

Young women outnumber young men in cities in many countries during periods of economic growth and urbanization. This gender imbalance among young urbanites is more pronounced in larger cities. We use the gradual rollout of special economic zones across China as a quasi-experiment to establish...