STANFORD INSTITUTE FOR THEORETICAL ECONOMICS

1996 SUMMER WORKSHOP PROGRAM

JULY 8 - AUGUST 23, 1996

 

 

TABLE OF CONTENTS:


 

I. SEGMENT #1: Computation of Dynamic Equilibrium

II. SEGMENT #2: Financial Contracting

III. SEGMENT #3: General Equilibrium and Related Topics

IV. SEGMENT #4: Transition to Market Economies

V. SEGMENT #5: Game Theory: Epistemic and Other Foundational Issues

VI. SEGMENT #6: Structural Models in Regulatory, Industrial and Labor Economics (SMRILE)




I. SEGMENT #1: Computation of Dynamic Equilibrium

ORGANIZED BY: Kenneth Judd, Hoover Institution

DATE: July 8 - 12 , 1996

TUESDAY 9 JULY

TIME: 2:00 - 3:15 P.M.

SPEAKER: Bernardo Huberman - Xerox, Palo Alto Research Center

TITLE: "Clustered Volatility in Multiagent Dynamics"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Mario Miranda - The Ohio State University

TITLE: "An Empirical Reassessment of the Commodity Storage Model"


WEDNESDAY 10 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Jenny Li - University of California at Los Angeles

TITLE: "Numerical Analysis of a Monetary Overlapping Generation Model"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Wouter den Haan - University of California at San Diego

TITLE: "Aggregate Shocks and Cross-Sectional Dispersion"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Patrick de Fontnouvelle - Iowa State University

TITLE: "Stock Returns and Trading Volume: A Structural Explanation of the Empirical Regularities"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Antonio Bernardo - University of California at Los Angeles

TITLE: "Volume and Price Formation in an Asset Trading Model with Asymmetric Information"


THURSDAY 11 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: James Conklin - University of Texas at Austin

TITLE: "An Algorithm to Compute All Subgame-Perfect Equilibria of Dynamic Games"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Mark Cronshaw - Economics Institute, Boulder

TITLE: "Algorithms for Repeated Game Equilibria"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Gautam Gowrisankaran - University of Minnesota

TITLE: "Computational Feasibility of Models with Multi-Product Firms and Other Complex State Spaces"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Alex Anas - State University of New York at Buffalo

TITLE: "Computation of Dynamic Housing Market Equilibrium"


FRIDAY 12 JULY

TIME: 10:00 - 11:00 A.M.

SPEAKER: Karl Schmedders - Stanford University

TITLE: "Solving General Equilibrium with Incomplete Asset Markets"

TIME: 11:15 - 12:00 P.M.

SPEAKER: Kenneth Judd - Stanford University

TITLE: "Efficient Integration and Differentiation Methods in Solving Rational Expectations Models and Dynamic Games"



II. SEGMENT #2: Financial Contracting

ORGANIZED BY: Darrell Duffie, Graduate Schoolof Business

DATE: July 15 - 19 , 1996

MONDAY 15 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: David Nachman - Georgia State University

TITLE: "Asymmetric Information, Operating Discretion, and the Design of Securities"

TIME: 11:15 - 12:30 P.M.

SPEAKER: John Geanakoplos - Yale University

TITLE: "Promises, Promises!"


TUESDAY 16 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Ulf Axelson - Carnegie-Mellon University

TITLE: "Dynamic Financial Innovation with Demand Uncertainty"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Robert Townsend - University of Chicago

TITLE: "The Theory of the Firm: Applied Mechanism Design"


WEDNESDAY 17 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Rohit Rahi - Birkbeck College

TITLE: "Information Revelation and Market Incompleteness"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Peter DeMarzo - Northwestern University

TITLE: "Design and Collateralization of Asset-Backed Securities"


THURSDAY 18 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Andreas Lehnert - University of Chicago

TITLE: "Liquidity Constraints and Incentive Contracts"

TIME: 11:15 - 12:30 P.M.

SPEAKER: William Zame - University of California at Los Angeles

TITLE: "Collateral, Default and Market Crashes"


FRIDAY 19 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Thomas Noe - Georgia State University

TITLE: "A Theory of Priority Structure and Debt Renegotiation in the Absence of Bankruptcy Protection"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Jesus Santos - University of Chicago

TITLE: "Financial Innovations with Endogenous Risk"



III. SEGMENT #3: General Equilibrium and Related Topics

ORGANIZED BY: Mordecai Kurz, Department of Economics

DATE: July 22 - 26, 1996

MONDAY 22 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Nicholas Yannelis - University of Illinois

TITLE: "Cores and Values in Differential Information Economies"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Stefan Krasa - University of Illinois

TITLE: "Endogenous Enforcement in Differential Informational Economies"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Ronel Elul - Brown University

TITLE: "Will You Marry Me? A Perspective on the Gender Gap"


TUESDAY 23 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Ross Starr - University of California at San Diego

TITLE: "Exchange in a Network of Trading Posts"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Carsten Nielsen - Institute of Economics, Denmark

TITLE: "Floating Exchange Rates vs. a Monetary Union Under Rational Beliefs: The Role of Endogenous Uncertainty"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Joseph Ostroy - University of California at Los Angeles

TITLE: "Efficient Incentive Compatible Economies are Perfectly Competitive"


WEDNESDAY 24 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Susan Snyder - Virginia Polytechnic Institute

TITLE: "Testable Restrictions of Pareto Optimal Public Goods Provisions"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Mordecai Kurz - Stanford University

TITLE: "The Equity Premium is No Puzzle"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Alberto Bisin - Massachusetts Institute of Technology

TITLE: "General Equilibrium with Asymmetric Information"


THURSDAY 25 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: William Zame - University of California at Los Angeles

TITLE: "Clubs and the Market"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Robert Anderson - University of California at Berkeley

TITLE: "Genericity with Infinitely Many Parameters"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Christina Shannon - University of California at Berkeley

TITLE: "Determinacy of Competitive Equilibria in Economies with Many Commodities"


FRIDAY 26 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Walter Heller - University of California at San Diego

TITLE: "Markets with Set-Up Costs"

TIME: 11:00 - 12:15 P.M.

SPEAKER: Michael Magill - University of Southern California

TITLE: "Entrepreneurship, Incentives and Ownership Structure"



IV. SEGMENT #4: Transition to Market Economies

ORGANIZED BY: Masahiko Aoki and Yingyi Qian, Department of Economics

DATE: July 29 - August 2, 1996

MONDAY 29 JULY

TIME: 2:00 - 3:15 P.M.

SPEAKER: Andrei Shleifer - Harvard University

TITLE: "Law and Finance"

TIME: 3:45 - 5:00 P.M.

SPEAKER: John McMillan - University of California at San Diego

TITLE: "Search and Trust in Transition Economies"


TUESDAY 30 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Michael Kremer - Massachusetts Institute of Technology

TITLE: "Disorganization"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Chenggang Xu - London School of Economics

TITLE: "Coordination and Experimentation in M-form and U-form Organizations"

TIME: 2:00 - 3:15 P.M.

SPEAKER: John Earle - Central European University

TITLE: "Post-Privatization Political Economy in the Czech Republic and Russia"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Erik Berglof - Universite Libre de Bruxelles

TITLE: "Optimal Decentralization Under Soft Budget Constraints"


WEDNESDAY 31 JULY

TIME: 9:30 - 10:45 A.M.

SPEAKER: Klaus Schmidt - University of Munich

TITLE: "The Political Economy of Mass Privatization and the Threat of Expropriation"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Yingyi Qian - Stanford University

TITLE: "Insecure Property Rights and Government Ownership of Firms"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Barry Naughton - University of California at San Diego

TITLE: "Institutional Improvisation in the Making of Market Economies"

TIME: 3:45 - 5:00 P.M.

SPEAKER: Lawrence Lau - Stanford University

TITLE: "Pareto-Improving Reforms"


THURSDAY 1 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Mark Schankerman - London School of Economics and EBRD

TITLE: "Infrastructure, Learning and Competitive Environment"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Jiahua Che - Stanford University

TITLE: "Governance of Firms and Market Contracting: With an Application to China's Township-Village Enterprises"



V. SEGMENT #5: Game Theory: Epistemic and Other Foundational Issues

ORGANIZED BY: Peter Hammond, Department of Economics & Robert Aumann, Hebrew University of Jerusalem

DATE: August 5 - 16, 1996

TUESDAY 6 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Peter Hammond - Stanford University

TITLE: "Rationality in Normal Form Games: Justifying Information Partitions and Subjective Probabilities"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Dov Samet - University of Tel Aviv

TITLE: "What is an Epistemic Type?"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Aviad Heifetz - University of Tel Aviv

TITLE: "Iterative and Fixed-Point Common Belief"


WEDNESDAY 7 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Pierpaolo Battigalli - Princeton University

TITLE: "Non-Equilibrium Analysis of Incomplete Information Games"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Giacomo Bonanno - University of California at Davis

TITLE: "Fundamental Agreement: A New Foundation for the Harsanyi Doctrine"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Yossi Feinberg - Hebrew University of Jerusalem

TITLE: "Characterizing the Existence of a Common Prior via the Notion of Disagreement"


THURSDAY 8 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Cristina Bicchieri - Carnegie-Mellon University

TITLE: "Common Reasoning About Admissibility"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Geir Asheim - University of Oslo

TITLE: "Admissibility and Common Knowledge"


FRIDAY 9 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Charles Holt - University of Virginia

TITLE: "Minimum Effort Coordination Games: An Equilibrium Analysis of Bounded Rationality"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Paolo Ghirardato - California Institute of Technology

TITLE: "Coping with Ignorance: Unforeseen Contingencies and Non-Additive Certainty"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Klaus Nehring - University of California at Davis

TITLE: "Expected Utility Maximization in the Presence of Unforeseen Contingencies"


TUESDAY 13 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Joseph Halpern - IBM Research Division, Almaden Research Center

TITLE: "On Ambiguities in the Interpretation of Game Trees"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Stephen Morris - University of Pennsylvania

TITLE: "The Delicate Structure of Almost Common Knowledge"


WEDNESDAY 14 AUGUST

TIME: 9:30 - 10:45 A.M.

SPEAKER: Mamoru Kaneko - Tsukuba University, Japan

TITLE: "Infinite Regress of the Knowledge of the Final Decision Axioms and Its Proof-Theoretical Evaluations"

TIME: 11:15 - 12:30 P.M.

SPEAKER: Philippe Mongin - CORE, Belgium

TITLE: "The Logic of Probabilistic Type Spaces"

TIME: 2:00 - 3:15 P.M.

SPEAKER: Hans Krogh Hvide - Norwegian School of Economics, Bergen

TITLE: "Bounds to Memory Loss"


THURSDAY 15 AUGUST

TIME: 11:15 - 12:30 P.M.

SPEAKER: Robert Aumann - Hebrew University of Jerusalem

TITLE: "Deriving Backward Induction in the Centipede Game Without Assuming Rationality at Unreached Vertices"



VI. SEGMENT #6: Structural Models in Regulatory, Industrial and Labor Economics (SMRILE)

ORGANIZED BY: Frank Wolak, Department of Economics

DATE: August 19 - 23, 1996

MONDAY 19 AUGUST

TIME: 10:30 - 11:30 A.M.

SPEAKER: Jean-Jacques Laffont - Institut d'�conomie Industrielle

TITLE: "Network Competition and Interconnection"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Patrick Rey - University of Toulouse

TITLE: "A Primer on Foreclosure"

TIME: 3:00 - 4:00 P.M.

SPEAKER: Peter Reiss - Stanford University

TITLE: "A Model of Inter-dealer Trades"


TUESDAY 20 AUGUST

TIME: 10:30 - 11:30 A.M.

SPEAKER: Donna Gilleskie - University of North Carolina

TITLE: "Health Insurance and Retirement in the 1990s: A Dynamic Structure Analysis"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Harry Paarsch - University of Iowa

TITLE: "Piece Rates, Fixed Wages, and Incentive Effects: Statistical Evidence from Payroll Records"

TIME: 3:00 - 4:00 P.M.

SPEAKER: Scott Stern - Massachusetts Institute of Technology

TITLE: "Testing for Complementarity: A Structural Approach"


WEDNESDAY 21 AUGUST

TIME: 10:30 - 11:30 A.M.

SPEAKER: David Green - University of British Columbia

TITLE: "The Impact of the Minimum Wage on the Wage Distribution"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Bernard Salanie - INSEE/CREST

TITLE: "Early Starters vs. Late Beginners"

TIME: 3:00 - 4:00 P.M.

SPEAKER: Robert Porter - Northwestern University

TITLE: "Joint Bidding and Entry in Offshore Oil and Gas Lease Auction"


THURSDAY 22 AUGUST

TIME: 10:30 - 11:30 A.M.

SPEAKER: Kenneth Wolpin - University of Pennsylvania

TITLE: "Eliminating Race Differences in School Attainment and Labor Market Success"

TIME: 1:30 - 2:30 P.M.

SPEAKER: Ariel Pakes - Yale University

TITLE: "Stochastic Algorithms for Dynamic Models: Markov-Perfect Equilibrium and the Curse of Dimensionality"

TIME: 3:00 - 4:00 P.M.

SPEAKER: Orazio Attanasio - University College London

TITLE: "On the Relevance of Liquidity Constraints for Household Behavior: Evidence from the Demand for Automobile Loans"

 

 

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