“...We provide a theory of trading through intermediaries in over-the-counter markets. The role of intermediaries is to sustain trade. In our model, traders are...”

“...The Lagos‐Wright model—a monetary model in which pairwise meetings alternate in time with a centralized meeting—has been extensively analyzed, but always using...”

“...A three-stage market-game mechanism is devised that is simple (actions are quantities and outcomes are determined by arithmetic operations that do not depend...”

“...We characterize optimal credit market interventions with respect to two fundamental frictions—limited commitment and limited monitoring. We consider two...”

“...•The paper provides a new framework for unpredictable behavior.•I show that complexity (modeled by oracle machines) can be a substitute of randomness.•A Nash...”

“...This paper offers two ways to decentralize the constrained-efficient allocation of the Lagos–Wright (2005) pure currency economy. The first way has divisible...”

“...We present an axiomatization of expected utility from the frequentist perspective. It starts with a preference relation on the set of infinite sequences with...”

“...A decision maker needs predictions about the realization of a repeated experiment in each period. An expert provides a theory that, conditional on each finite...”

“...We provide unified strategic foundations for the Nash (1950) and Kalai (1977) solutions in the context of negotiations under liquidity constraints. We propose...”