Kellogg Podcast on Sunk Costs
Sandeep Baliga
Jeff Ely Microeconomic Theory, Game Theory, Behavioral Economics, Evolution
I study the monopolistic design of a college admissions test. Students have private information about their ability and apply to colleges by submitting verifiable resumes in addition to test results.
We study the design of mechanisms by an intermediary that generate information for a sender and for a receiver about an unknown attribute of the sender.
We study efficient and consumer-surplus maximizing information policies in a bilateral trade setting where the buyer is initially privately imperfectly privately informed about her willingness to pay.
We model demand for noninstrumental information, drawing on the idea that people derive entertainment utility from
We study the AI control problem in the context of decentralized eco- nomic production. Profit-maximizing firms employ artificial intelligence
We study the joint design of dynamic incentives and performance feedback for an environment with a coarse (all-or-nothing) measure of
Non-partisan voters can become polarized not because of ideology but because it is optimal for them to remain uninformed and cancel out the votes of uninformed voters on “the other side.”
We study games of incomplete information as both the information structure and the extensive form vary. An analyst may know the payoff-
We study information as an incentive device in a dynamic moral hazard frame- work. An agent works on a task of uncertain difficulty, modeled
We study the AI control problem in the context of decentralized eco- nomic production. Profit-maximizing firms employ artificial intelligence
We study the joint design of dynamic incentives and performance feedback for an environment with a coarse (all-or-nothing) measure of
Non-partisan voters can become polarized not because of ideology but because it is optimal for them to remain uninformed and cancel out the votes of uninformed voters on “the other side.”
We derive optimal contests for environments where output takes the form of breakthroughs and the principal has an informational advan
A health authority chooses a binary action for each of several individuals that differ in their pre-test probabilities of being infected and in the
We study rotation schemes that govern individuals’ activities within an organization during an epidemic. We optimize the
I introduce and study dynamic persuasion mechanisms. A principal privately observes the evolution of a stochastic process and sends messages over time to an agent.
We study torture as a mechanism for extracting information from a suspect who may or may not be informed. We show that a standad rationale
How can we know in advance whether simplifying assumptions about beliefs will make a difference in the conclusions of
We study games of incomplete information as both the information structure and the extensive form vary. An analyst may know the payoff-
I propose a mechanism for redistricting inspired by cake-cutting mechanisms for fair division. The majority party proposes a partition of a state into
We study information as an incentive device in a dynamic moral hazard frame- work. An agent works on a task of uncertain difficulty, modeled
Jeff Ely is the Charles E. and Emma H. Morrison Professor of Economics at Northwestern University and an accomplished latte-artist.
Sandeep Baliga
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