We explore a model of the interaction between banks and outside investors in which the ability of banks to issue inside money (short-term liabilities believed to be convertible into currency at par) can generate a collapse in asset prices and widespread bank insolvency. The banks and investors...

This paper uses an experimental field approach to investigate the pro-social preferences and behavior of social services providers and the behavior of potential beneficiaries in Bogota, Colombia. Field experiments were conducted using games including a newly designed Distributive Dictator Game...

We investigate the limiting behavior of trader wealth and prices in a simple prediction market with a finite set of participants having heterogeneous beliefs. Traders bet repeatedly on the outcome of a binary event with fixed Bernoulli success probability. A class of strategies, including...

We consider a rationally inattentive screener who evaluates a pool of candidates composed of distinct and observable social categories. There is heterogeneity across categories in the costs of being screened, the degree of bias faced in the screening process, and the costs of investment in...

This paper considers finitely repeated games played by procedurally rational players, who sample their available alternatives and use realized payoffs as a basis for strategy selection. The corresponding solution concept is that of (payoff) sampling equilibrium, which is a distribution over...

Meritocratic systems are commonly understood as those that assign tasks to individuals who can best perform them. But future performance cannot be known prior to assignment, and must be inferred from other traits. We consider a model in which performance depends on two attributes --- ability and...

Those general perceptions of the macroeconomic environment that are specifically related to the stability properties of the system may be referred to as regime perceptions. Such perceptions affect economic behavior, and hence determine actual stability properties or regime realizations. A fixed...

We provide a selective survey of the literature on profiling by criminal justice agents, including changes in the nature of discrimination resulting from the proliferation of algorithms for prediction. We argue for a taxonomy of harms that differs somewhat from the conventional approach taken by...