• Endowments, Exclusion, and Exchange 

  Balbuzanov, Ivan; Kotowski, Maciej (Elsevier BV, 2019-09)

  We propose a new solution for discrete exchange economies and resource-allocation problems, the exclusion core. The exclusion core rests upon a foundational idea in the legal understanding of property, the right to exclude ...

• Commentary on “Bordering by Law” by Judith Resnik 

  Hochschild, Jennifer (NYU Press, 2017-01-17)

  Judith Resnik’s “Bordering by Law” has three major themes. First, the United States is strongly and increasingly criminalizing immigration and stigmatizing immigrants, to the detriment of everyone. Second, the United ...

• Multidimensional Uncertainty and Herd Behavior in Financial Markets 

  Avery, Christopher; Zemsky, Peter (American Economic Association, 1998)

  We study the relationship between asset prices and herd behavior, which occurs when traders follow the trend in past trades. When traders have private information on only a single dimension of uncertainty (the effect of a ...

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