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On Dynamic Pricing

By Ilia Krasikov and Rohit Lamba

American Economic Journal: Microeconomics, February 2026

This paper builds a theory of dynamic pricing for the sale of timed goods. The main friction is private and evolving valuation of the buyer prior to the date of consumption, which follows a Poisson process. A combination of membership fees and continuousl...

How to Allocate Money?

By Piotr Dworczak

American Economic Journal: Microeconomics, February 2026

I study a simple equity-efficiency problem: A designer allocates a fixed amount of money to a population of agents differing in privately observed marginal values for money. She can only screen by imposing an "ordeal"—that is, by allocating more money t...

The Limits of Limited Commitment

By Jacopo Bizzotto, Toomas Hinnosaar, and Adrien Vigier

American Economic Journal: Microeconomics, February 2026

We study limited strategic leadership. A collection of subsets covering the leader's action space determines her commitment opportunities. We characterize the outcomes resulting from all possible commitment structures of this kind. If the commitment struc...

Attitudes toward Success and Failure

By Larbi Alaoui and Antonio Penta

American Economic Journal: Microeconomics, February 2026

Individuals often attach a special meaning to attaining a certain goal, and getting past a threshold marks the difference between success and failure. In this paper, we take a standard expected utility (EU) setting with an exogenous reference point that s...