Research

Publications

"Is Money Essential? An Experimental Approach" (joint with J. Jiang,  P. Norman, B. Sultanum and R. Wright), Journal of Political Economy, forthcoming.

“Inflation, Output and Welfare in the Laboratory” (joint with J. Jiang and C. Zhang), European Economic Review,  Volume 152, February 2023, 104351. 

“The Friedman Rule: Experimental Evidence” (joint with J. Duffy), International Economic Review,  https://doi.org/10.1111/iere.12549.

“What is the Impact of Introducing a Parallel OTC Market?  Theory and Evidence from the Chinese Interbank FX Market” (joint with C. Holden, D. Lu and V. Lugovskyy), Journal of Financial Economics 140 (2021), 270-291.

“Legal Restrictions and International Currencies: An Experiment” (joint with S. Ding), Journal of International Economics, forthcoming.

“How Long is Forever in the Laboratory? Three Implementations of an Infinite-Horizon Monetary Economy” (joint with J. Jiang and C. Zhang), Journal  of  Economic  Behavior  and Organization 184 (2021), 278-301.

 “Cash versus Extra-credit Incentives in Experimental Asset Markets” (joint with S. Ding, V. Lugovskyy, S. Tucker and A. Williams), Journal  of  Economic  Behavior  and Organization  150 (2018), 19-27.

“An Experimental Study of Finitely and Infinitely Repeated Linear Public Goods Games” (joint with V. Lugovskyy, A. Sorensen, J. Walker and A. Williams), Games and Economic Behavior 102 (2017), 286-302.

“Traders’ Heterogeneity and Bubbles-Crash Patterns in Experimental Asset Markets” (joint with S.  Baghestanian  and  V.  Lugovskyy),  Journal  of  Economic  Behavior  and  Organization  117 (2015), 82-101.

 “Experimental Evidence on the Essentiality and Neutrality of Money in a Search Model” (joint with J. Duffy), forthcoming in Experiments in Macroeconomics, Research in Experimental Economics, Volume 17, Bingley, UK: Emerald Group Publishing Ltd.

  “Gift Exchange versus Monetary Exchange: Theory and Experimental Evidence” (joint with J. Duffy), American Economic Review 104 (2014), 1735-1776.

 “Asset-holdings Caps and Bubbles in Experimental Asset Markets” (joint with V. Lugovskyy, S. Tucker and A. Williams), Journal of Economic Behavior and Organization 107 (2014), 781-797.

 “The Essentiality of Money in Environments with Centralized Trade” (joint with L. Araujo, B. Camargo and R. Minetti), Journal of Monetary Economics 59 (2012), 612-621.

 “Independent Random Matching” (joint with K. Podczeck), Economic Theory 50 (2012), 1-29. (Lead article)

 “On the Observational Equivalence of Random Matching,” (previous title “Random Matching and Aggregate Uncertainty,” joint with R. Molzon), Journal of Economic Theory 145 (2010), 1283-1301.

  “An Experimental Investigation of Overdissipation in the All-Pay Auction” (joint with V. Lugovskyy and S. Tucker), European Economic Review 54 (2010), 974-997.

  “Stationarity Without Degeneracy in a Model of Commodity Money” (joint with R. de O. Cavalcanti), Economic Theory 43 (2010), 263-280.

 “Tie Breaking Rules and Divisibility in Experimental Duopoly Markets,” Journal of Economic Behavior and Organization 67 (2008), 164-179.

  “Anonymous Markets and Monetary Trading” (joint with C. D. Aliprantis and G. Camera),  Journal of Monetary Economics 54 (2007), 1905-1928.

 “A Random Matching Theory” (joint with C. D. Aliprantis and G. Camera), Games and Economic Behavior 59 (2007), 1-16.

“Contagion Equilibria in a Monetary Model” (joint with C. D. Aliprantis and G. Camera), Econometrica 75 (2007), 277-282.

“Bilateral Matching with Latin Squares” (joint with C. D. Aliprantis and G. Camera), Journal of Mathematical Economics 43 (2007), 99-114.

“The Joint Continuity of the Expected Payoff Functions” (joint with C. D. Aliprantis and D. Glycopantis), Journal of Mathematical Economics 42 (2006), 121-130.

“Matching and Anonymity” (joint with C. D. Aliprantis and G. Camera), Economic Theory 29 (2006), 415-432. 

Working Papers

"Bargaining Under Liquidity Constraints: Nash vs. Kalai in the Laboratory" (joint with J. Duffy and L. Lebeau), Revise and Resubmit at Journal of Economic Theory

"Search Frictions in Over the Counter Foreign Exchange Markets: Theory and Evidence" (joint with D. Lu and A. Zhu), Revise and Resubmit at International Economic Review

“How do Households Respond to Expected Inflation? An Investigation of Transmission Mechanisms” (joint with J. Jiang, R. Kamdar and K. Lu) 

“The Impact of Search Frictions in Experimental Asset Markets: Over-the-Counter versus Double Auction” (joint with S. Ding and D. Lu), submitted

 “Quantifying Framing Effects in Public Goods versus Prisoner’s Dilemma Repeated Games” (joint with V.  Lugovskyy and J. Walker)

“On Cooperation in Finitely and Infinitely Repeated Prisoner’s Dilemma Games” (joint with V. Lugovskyy and J. Walker) 

 “An Experimental Study of Bubble Formation in Asset Markets Using the Tâtonnement Trading Institution” (joint with V. Lugovskyy and S. Tucker), 2009

“Trading Institutions in Experimental Asset Markets: Theory and Evidence” (joint with B. Guler, V. Lugovskyy and S. Tucker), 2017       

“The Wedge of Arbitrage Free Prices: Anything Goes” (joint with C. D. Aliprantis, M. Florenzano, and R. Tourky), 2006.