 | Associate Professor of Economics, UC-Berkeley Verified email at econ.berkeley.edu Cited by 1037 |
GM Grossman, E Helpman… - 2003 - nber.org
We examine integration strategies of multinational firms that face a rich array of choices of
international organization. Each firm in an industry must provide headquarter services from
its home country, produce intermediate inputs, and assemble the intermediate goods into ...
Many households devote a large fraction of their budgets to" consumption commitments"--
goods that involve transaction costs and are infrequently adjusted. This paper characterizes
risk preferences in an expected utility model with commitments. We show that ...
L Halpern,
M Koren… - Ann Arbor, 2006 - papers.ssrn.com
Abstract: What is the effect of imports on productivity? To answer this question, we estimate a
structural model of producers using product-level import data for a panel of Hungarian
manufacturing firms from 1992 to 2001. In our model with heterogenous firms, producers ...
D Karlan, M Mobius… - The Quarterly Journal …, 2009 - qje.oxfordjournals.org
Abstract This paper builds a theory of trust based on informal contract enforcement in social
networks. In our model, network connections between individuals can be used as social
collateral to secure informal borrowing. We define network-based trust as the largest ...
DA Hojman… - Journal of Economic Theory, 2008 - Elsevier
We study a model of network formation where the benefits from connections exhibit
decreasing returns and decay with network distance. We show that the unique equilibrium
network is a periphery-sponsored star, where one player, the center, maintains no links ...
D Fudenberg, M Mobius… - Journal of Economic theory, 2007 - Elsevier
We show the existence of a pure strategy, symmetric, increasing equilibrium in double
auction markets with correlated, conditionally independent private values and many
participants. The equilibrium we find is arbitrarily close to fully revealing as the market size ...
R Chetty… - manuscript, Department of Economics, Harvard …, 2004 - nber.org
Abstract This paper studies portfolio choice and asset prices in a model with two
consumption goods, one of which involves a commitment in that its consumption can only be
adjusted at a cost. Commitments effectively make investors more risk averse: they invest ...
L Halpern,
M Koren… - Hungarian Academy of Sciences, …, 2009 - 128.32.105.3
Abstract We estimate a model of importers in Hungarian micro data and conduct
counterfactual policy analysis to investigate the effect of imports on productivity. We find that
importing all foreign varieties would increase firm productivity by 12 percent, almost two- ...
M Mobius… - 2007 - nber.org
This paper builds a theory of informal contract enforcement in social networks. In our model,
relationships between individuals generate social collateral that can be used to control
moral hazard when agents interact in a borrowing relationship. We define trust between ...
This paper studies consumption and portfolio choice in a model where agents have
neoclassical preferences over two consumption goods, one of which involves a commitment
in that its consumption can only be adjusted infrequently. Aggregating over a population of ...
DA Hojman… - Games and Economic Behavior, 2006 - Elsevier
This paper studies a social game where agents choose their partners as well as their
actions. Players interact with direct and indirect neighbors in the endogenous network. We
show that the architecture of any nontrivial Nash equilibrium is minimally connected, and ...
A Ambrus, M Mobius… - 2010 - nber.org
We develop a model of informal risk-sharing in social networks, where relationships
between individuals can be used as social collateral to enforce insurance payments. We
characterize incentive compatible risk-sharing arrangements and obtain two results.(1) ...
D Hojman,
A Szeidl - KSG Working Paper No. RWP06-022, 2006 - papers.ssrn.com
Abstract: Many economic and social networks share two common organizing features:(1) a
core-periphery structure;(2) positive correlation between network centrality and payoffs. In
this paper, we build a model of network formation where these features emerge ...
H Allcott,
D Karlan, MM Möbius, TS Rosenblat… - The American economic …, 2007 - JSTOR
Large community size is often negatively correlated with prosocial behaviors such as formal
volunteering, working on public projects, and informal help to friends and strangers (Robert
D. Putnam 2000, 119, 206). This may be because people who reside in large communities ...
D Karlan, MM Mobius, TS Rosenblat… - Institute for Advanced …, 2005 - nber.org
Abstract We propose a methodology to measure trust within a social network and apply it in
a field experiment in shantytowns of Lima, Peru. We model trust as a transaction cost which
an agent pays to gain permission to use someone else's asset. Social closeness reduces ...
A large theoretical literature predicts that housing has substantial effects on financial
markets, but empirical evidence on these effects remains limited. We estimate the causal
effect of changes in mortgages and home equity on portfolio allocations using two ...
U Malmendier,
A Szeidl… - 2008 - elsa.berkeley.edu
Abstract How big is the effect of a few fools on market outcomes? We argue that in auctions,
even a small share of overbidding behavioral agents have a large effect, because the
auction format nfishesofor the highest $ bidding behavioral buyers. Through this fishing ...
Abstract: The present Paper investigates the effects of incorporating illiquidity in a standard
dynamic portfolio choice problem. Lack of liquidity means that an asset cannot be
immediately traded at any point in time. We find the portfolio share of financial wealth ...
[CITATION] Exchange Rate Uncertainty and Export Prices
M Koren… - mimeografía, Universidad de Harvard, 2003
B Koszegi,
A Szeidl - Unpublished Manuscript, University of …, 2011 - econ.berkeley.edu
Abstract We present a generally applicable theory of focusing based on the hypothesis that
a person focuses more on, and hence overweights, attributes in which her options differ
more. Our model predicts that the decisionmaker is too prone to choose options with ...
A Szeidl - Manuscript, University of California at Berkeley, 2006 - personal.ceu.hu
Abstract I derive a simple condition for the existence of a stable invariant distribution of an
increasing Markov process on a non" compact state space. I use this condition in two
workhorse models in macroeconomics. First, I settle a conjecture of Carroll by charac" ...
R Chetty… - Mimeograph, UC-Berkeley, 2005 - econ.berkeley.edu
Abstract The Grossman and Laroque (1990) theory of adjustment costs in consumption has
been widely applied to analyze consumption and financial market behavior. An important
prediction of such adjustment cost models is that individuals who have recently purchased ...
New open economy macromodels feature different forms of price rigidities, usually in the
framework of monopolistically competitive firms. These firms are often allowed to set different
prices across destinations (pricing to market or PTM). There is, however, an important ...
Abstract We build a theory of reference# dependent preferences based on adjustment costs
in consump# tion. The main contribution of the theory is that it endogenizes the evolution of
the reference point. The reference point generated by our model exhibits several features ...
A Szeidl - University of California at Berkeley Manuscript, 2002 - Citeseer
Abstract This paper shows that in a buffer stock saving model, wealth-to-income and other
interesting variables have unique stable invariant distributions. Previously this ergodic
property has only been conjectured and demonstrated numerically by means of ...
[CITATION] Consumption commitments
[CITATION] VImported Inputs and Productivity, V University of California
L Halpern, M Koren… - 2010 - Berkeley, Mimeo
[CITATION] Imported Inputs and Productivity
H Laszlo, M Koren… - Central European University, unpublished manuscript, 2009
Abstract This paper extends asset pricing models based on habit-dependent preferences in
two new directions. First, previously proposed preference specifications are shown to be
special cases of a more general model based on behavioral micro-foundations, that is a ...
[CITATION] Core and Periphery in Endogenous Networks
H Daniel… - 2006 - Working Paper
[CITATION] kTrust and Social Collateral, lforthcoming in the Quarterly Journal of Economics
D Karlan, M Mobius, T Rosenblat… - 2009 - November
[CITATION] nCore and Periphery in Endogenous Networks, oUni% versity of California Berkeley, mimeograph
D Hojman, A Szeidl - 2005
R Chetty… - 2008 - economics.harvard.edu
Abstract A growing literature has proposed that sconsumption commitmentstshed light on
several topics through their effects on risk preferences. This paper provides evidence for the
hypothesis that commitments affect risk preferences by examining the link between ...
Abstract We show the existence of a pure strategy, symmetric, increasing equilibrium in
double auction markets with interdependent private valuations and a large number of
participants. The equilibrium we find is arbitrarily close to fully revealing as the market size ...
G Grossman, E Helpman… - 2004 - cepr.org
We examine integration strategies of multinational firms that face a rich array of choices of
international organization. Each firm in an industry must provide headquarter services from
its home country, but can produce its intermediate inputs and conduct assembly ...
GM Grossman, E Helpman… - 2003 - wws.princeton.edu
Abstract We examine integration strategies of multinational firms that face a rich array of
choices of international organization. Each firm in an industry must provide headquarter
services from its home country, produce intermediate inputs, and assemble the ...
Page 1. Pricing Illiquid Assets Miklós Koren and Ádám Szeidl (YE) September 2001 Abstract
The present paper investigates the portfolio allocation decisions of an investor with infinite
horizon when available financial assets differ in their degrees of liquidity. ...
Abstract: This study intends to analyse the credibility of the Hungarian exchange rate regime
preceding and during the Russian stock market crisis and devaluation (in 1998). Throughout
the Paper the comparison with the similar regime in Poland is stressed. The basic tool ...
D Hojman,
A Szeidl - 2006 - dii.uchile.cl
Abstract A key aspect of social capital is that people who are better connected do better. We
explain this pattern in a model of network formation that exhibits two common features of
social and economic networks:(1) a core% periphery structure;(2) positive correlation ...
Citation Alcott, Hunt, Dean Karlan, Markus M. Mobius, Tanya S. Rosenblat, and Adam
Szeidl. 2007. Community size and network closure. American Economic Review 97(2):
80-85. ... Published Version http://www.atypon-link.com/doi/abs/10.1257/aer.97.2.80
Abstract I derive simple conditions for the existence of a stable invariant distribution of an
increasing Markov process on a non" compact state space. I use these conditions in two
workhorse economic models. First, in my main contribution, I settle a conjecture of Carroll ...
A Szeidl… - 2004 Meeting Papers, 2004 - ideas.repec.org
This paper studies portfolio choice and asset prices in a model with two consumption goods,
one of which involves a commitment in that its consumption can only be adjusted at a cost.
Commitments effectively make investors more risk averse: they invest less in risky assets ...
M Koren… - 2001 - iweb.cerge-ei.cz
Page 1. Information, Liquidity and Contagion Miklós Koren and Ádám Szeidl September 2001 *
Harvard University, Department of Economics, Cambridge, Massachusetts. E-mail:
koren@fas.harvard.edu and szeidl@fas.harvard.edu. ** Working paper. Comments are welcome. ...
A Szeidl - 2004 - en.scientificcommons.org
Publikationsansicht. 45059116. Essays on the economics of uncertainty / (2004). Szeidl,
Adam. Abstract. Thesis (Ph.D., Dept. of Economics)--Harvard University, 2004.. Includes
bibliographical references (leaves 138-144). Details der Publikation. ...
The present Paper investigates the effects of incorporating illiquidity in a standard dynamic
portfolio choice problem. Lack of liquidity means that an asset cannot be immediately traded
at any point in time. We find the portfolio share of financial wealth invested in illiquid ...
A substantial part of the paper (Tables 1-3) compares expectations as revealed by the
auction market to the mean forecasts of a survey of professional forecasters. An incautious
reader might get the impression that these results suggest the market-based expectations ...
L Halpern,
M Koren… - 2005 - cepr.org
What is the effect of imports on productivity? To answer this question, we estimate a
structural model of producers using product-level import data for a panel of Hungarian
manufacturing firms from 1992 to 2001. In our model with heterogenous firms, producers ...
K Miklós… - Rajk László Szakkollégium Working Papers, 2002 - ideas.repec.org
... Raj Chetty & Adam Szeidl, 2004. "Consumption Commitments: Neoclassical Foundations for
Habit Formation," NBER Working Papers 10970, National Bureau of Economic Research, Inc.
[Downloadable!] (restricted) Other versions: Adam Szeidl & Raj Chetty, 2005. ...
L HALPERN, M KOREN… - 195.113.12.58
Page 1. THE MICROECONOMICS OF TECHNOLOGY SPILLOVERS: THEORY AND EVIDENCE
FROM HUNGARIAN PRODUCT-LEVEL DATA NONTECHNICAL SUMMARY LÁSZLÓ HALPERN,
MIKLÓS KOREN AND ÁDÁM SZEIDL What is the effect of imports on productivity? ...
[CITATION] Existence of Pure-Strategy Equilibria in a Dynamic Matching and Bargaining Market with Two-sided Incomplete Information
M Satterthwaite, AS UBC… - 2004
A Szeidl - 2003 - cepr.org
This study intends to analyse the credibility of the Hungarian exchange rate regime
preceding and during the Russian stock market crisis and devaluation (in 1998). Throughout
the Paper the comparison with the similar regime in Poland is stressed. The basic tool ...
R Shabani… - 2009 - fungcenter.berkeley.edu
This proposal outlines a research agenda intended to better understand the relationship
between house prices and foreclosure. The wave of foreclosures that followed a precipitous
drop in house prices beginning in 2006 has arguably been the single most important ...
A Szeidl… - 2005 Meeting Papers, 2005 - ideas.repec.org
This paper studies consumption and portfolio choice in a model where agents have
neoclassical preferences over two consumption goods, one of which involves a commitment
in that its consumption can only be adjusted infrequently. Aggregating over a population of ...
A Szeidl - NBER International Seminar on Macroeconomics 2005, 2005 - nber.org
This is an interesting and informative paper that explores pricing behavior in a new market
for macroeconomic derivatives. Asset markets where risk associated with future
macroeconomic events can be traded are a recent financial innovation. These markets ...
T Rosenblat, M Mobius,
D Karlan… - Quarterly Journal of …, 2009 - dash.harvard.edu
This paper builds a theory of trust based on informal contract enforcement in social
networks. In our model, network connections between individuals can be used as social
collateral to secure informal borrowing. We define network-based trust as the highest ...
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