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Degree-Weighted Social Learning

By Chen Cheng, Xiao Han, Xin Tong, Yusheng Wu, and Yiqing Xing

American Economic Journal: Microeconomics, November 2026

We study social learning in which agents weight neighbors' opinions differently based on their degrees, capturing situations in which agents place more trust in well-connected individuals or, conversely, discount their influence. We derive asymptotic prop...

Land, Wealth, and Taxation

By Roberto Brunetti, Carl Gaigné, and Fabien Moizeau

American Economic Journal: Microeconomics, November 2026

This paper examines the role of land in wealth dynamics and its consequences for efficiency and inequality. We focus on the interplay among agents' bidding for location, mortgage market imperfections, and inheritance in a model in which agents leave to th...

Competing Diffusions in a Social Network

By Arthur Campbell, C. Matthew Leister, Philip Ushchev, and Yves Zenou

American Economic Journal: Microeconomics, November 2026

We develop a model of competing diffusions of goods on a social network. There are two types of goods and individuals: mass-market and niche-market. There is a unique stable steady state, and the adoption of a mass-market good is greater than its populati...

Reputation and Competitive Selection

By Joyee Deb and Jack Fanning

American Economic Journal: Microeconomics, November 2026

We demonstrate how selection in competitive markets can impede long-run reputational incentives. In our model, competent firms can exert costly effort to improve expected product quality, but inept firms cannot. With low entry barriers, we show competent ...

The Perils of Overreaction

By Konstantin von Beringe and Mark Whitmeyer

American Economic Journal: Microeconomics, November 2026

To study updating rules, we consider the problem of a malevolent principal screening an imperfectly Bayesian agent. We uncover a fundamental dichotomy between underreaction and overreaction to information. If, for some signal realization, the agent's upda...

Targeted Advertising in Elections

By Maria Titova

American Economic Journal: Microeconomics, November 2026

How does targeted advertising influence electoral outcomes? This paper presents a one-dimensional spatial model of voting in which a privately informed challenger persuades voters to support him over the status quo. I show that targeted advertising enable...

Monopolistic Data Dumping

By Kfir Eliaz and Ran Spiegler

American Economic Journal: Microeconomics, November 2026

A profit-maximizing monopolist curates a database for users seeking to learn a parameter. There are two user types: "Nowcasters" wish to learn the parameter's current value, while "forecasters" target its long-run value. Data storage involves a constant m...