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• Optimal consumption and portfolio choice with ambiguous interest rates and volatility.

  Authors:Qian Lin and Frank RiedelFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 20214,906 words Article 1530LWe study continuous-time consumption and portfolio choice in the presence of Knightian uncertainty about interest rates. We develop the stochastic model that involves singular priors and analyze optimal behavior. When...

• Special issue in honor of Nicholas C. Yannelis.

  Authors:Bernard Cornet, M. Ali Khan, David Levine, and Edward C. PrescottFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 20211,619 words Article 1490LIt is with great pleasure that the four authors listed above introduce the first of two parts of this special issue for Nicholas Constantine Yannelis: they do so by introducing a scholar-activist not only to the members...

• The Yannelis-Prabhakar theorem on upper semi-continuous selections in paracompact spaces extensions and applications.

  Authors:M. Ali Khan and Metin UyanikFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 202121,864 words Article 1560LWe root this tribute to Nicholas Yannelis in Chapter II of his 1983 Rochester Ph.D. dissertation, and in his 1983 paper with Prabhakar: this work strengthens the lower semicontinuity assumption of Michael's continuous...

• Monte Carlo sampling processes and incentive compatible allocations in large economies.

  Authors:Peter J. Hammond, Lei Qiao, and Yeneng SunFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 202112,349 words Report 1720LMonte Carlo simulation is used in Hammond and Sun (Econ Theory 36:303-325, 2008. https://doi.org/10.1007/s00199-007-0279-7) to characterize a standard stochastic framework involving a continuum of random variables that...

• Bayesian Nash equilibrium existence in (almost continuous) contests.

  Author:Ori HaimankoFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 202113,160 words Article 1780LWe prove the existence of a behavioral-strategy Bayesian Nash equilibrium in contests where each contestant's probability to win is continuous in efforts outside the zero-effort profile, monotone in his own effort, and...

• The economics of platforms in a Walrasian framework.

  Authors:Anil K. Jain and Robert M. TownsendFrom:Economic Theory (Vol. 71, Issue 3) Peer-Reviewed

  Apr. 27, 202118,963 words Article 1550LWe present a tractable model of platform competition in a general equilibrium setting. We endogenize the size, number, and type of each platform, while allowing for different user types in utility and impact on platform...