We provide a new equilibrium-refinement (a generalization of the Intuitive Criterion) for dynamic incomplete information games. We discuss the properties of this refinement in a class of games that includes sender-receiver games. We also provide applications (certain incomplete information games...

We propose to experimentally study decentralized organization learning. Our objective is to understand how learning members of an organization cope with the confounding effects of the simultaneous learning of other agents. An important distinction of our approach is that we test predictions from...

This paper analyzes monetary exchange in a search model allowing for multilateral matches to be formed, according to a standard urn-ball process. We consider three physical environments: indivisible goods and money, divisible goods and indivisible money, and divisible goods and money. We compare...

This research introduces the sequential bargaining to the standard screening model by allowing the agent to propose new contracts with strategic delay after the rejection of the principal's offer. We have found that if the difference between the types of agent are sufficiently large, the...

We investigate an extensive form sequential matching game of perfect information. We show that the subgame perfect equilibrium of the sequential matching game leads to the unique stable matching when the Eeckhout Condition (2000) for existence of a unique stable matching holds, regardless of the...

We produce a model with pre-marital schooling investment, endogenuos marital matching and spousal specialization in homework and market production. Schooling investments generate two kinds of returns in our framework: a labor-market return due to the education premium and a marriage-market...

Several recent papers (Shimer 2003a, 2003b; Costain and Reiter 2003; Hall 2003) have shown that general equilibrium labor market models have a hard time generating the degree of cyclical volatility in unemployment and vacancies that is observed in the data. These papers have suggested that rigid wages...