Last Updated: May 2024
Contact Information:
Federal Reserve Bank of New York33 Liberty StreetNew York, NY, 10045Phone: (212) 720 6328Fax: (212) 720 1844Email: olast1@gmail.comPublished Papers
“Gasoline Price Changes and Consumer inflation expectations: Experimental evidence,” (with F. Aidala, G. Kosar, G. Topa, W. van der Klauw), Journal of Economic Behavior and Organization, Vol. 220, 66-80, 2024. Penultimate version.
“Survey evidence on gen AI and households: Job prospects amid trust concerns,” (with I. Aldasoro, S. Doerr, L. Gambacorta, and T. Oliviero), BIS Bulletin, Vol. 86, 2024.
“Endogenous Reference Price Auction for a Diverse Set of Commodities: An Experimental Analysis”, (with C. Holt), Experimental Economics, Vol. 207, 9-35, 2024. Penultimate version. The code to calculate the equilibrium bid function can be found here, and the equilibrium bid function can be found here.
“Insurance and Portfolio Decisions: Two Sides of the Same Coin?” (with N. Treich and J. Foncel), Journal of Financial Economics, Vol. 148(3), 201-2019, 2023. Penultimate version. Internet Appendix.
“A new Approach to Assess Inflation Expectations Anchoring Using Strategic Surveys,” (with A. Sbordone, G. Topa, W. van der Klauw, and J. Williams), Journal of Monetary Economics, Vol. 129, 2022. Penultimate version.
“The Expected Price of Keeping up with the Joneses,” (with A. Filippin, M. Neubauer and L. Nunziata), Journal of Economic Behavior and Organization, Vol. 200, 2022. Penultimate version.
“Whom do Consumers Trust with their Data? U.S. Survey Evidence” (with S. Doerr, J. Frost, A. Fuster and K. Shue), BIS Bulletin, Vol 42, 2021.
“How Economic Crises Affect Inflation Beliefs: Evidence from the Covid-19 Pandemic” (with G. Kosar, R. Pomerantz, D. Skandalis, K. Smith, G. Topa, and W. van der Klaauw), Journal of Economic Behavior and Organization, Vol. 189, 2021. Penultimate version.
“Overcoming Discount Window Stigma. An Experimental Investigation” (with C. Holt), Review of Financial Studies, Vol.33, Issue 12, 2020. Penultimate version.
"An Overview of the Survey of Consumer Expectations” (with W. van der Klauw, G. Topa and B. Zafar), Economic Policy Review, Vol. 23, Issue 2, 2017.
"The Rich Domain of Risk” (with N. Treich), Management Science, Vol. 62, 1954-1969, 2016. Penultimate version.
“The Price is Right: Updating Inflation Expectations in a Randomized Price Information Experiment”, (with Wilbert van der Klauw, Giorgio Topa and Basit Zafar), Review of Economics and Statistics, Vol. 98, Issue 3, 503-523, 2016. Penultimate version.
"Discount Window Stigma during the 2007-2008 Financial Crisis”, (with Eric Ghysels, Asani Sarkar, and Jeffrey Shrader), Journal of Financial Economics, Vol.118, Issue 2, 317-335, 2015. Penultimate version. Online Appendices. The paper received the Pearson Award for the Best Paper on Financial Institutions and Markets at the 2011 Western Finance Association Meeting.
"Inflation Expectations and Behavior: Do Survey Respondents Act on their Beliefs?", (with Wandi Bruine de Bruine, Wilbert van der Klauw, Giorgio Topa, and Basit Zafar), International Economic Review, Vol. 56, Issue 2, 505-536, 2015. Penultimate version. Online appendices.
“Framing of Incentives and Effort Provision”, (with Amadou Boly), International Economic Review, Vol. 56, Issue 3, 917-938, 2015. Penultimate version. Supplemental Material. Additional Material (Exam Paper, Photos).
“Challenges in Identifying Interbank Loans”, (with A. Copeland), Economic Policy Review, Vol. 21, Issue 1, 2015.
“Relative Performance of Liability Rules: Experimental Evidence”, (with V. Angelova, G. Attanasi and Y. Hiriart), Theory and Decision, Vol. 77, 531-556, 2014. Penultimate version.
“On the effects of Incentives Framing on Bribery: Evidence from an Experiment in Burkina Faso", (with A. Boly), Economics of Governance, Vol.15, Issue 1, 1-15, 2014. Penultimate version.
“A Procurement Auction for Toxic Assets with Asymmetric Information”, (with C. Holt and C. Plott), American Economic Journal: Microeconomics, 5(4), 142-162, 2013. Penultimate version. Online Appendices.
“Measuring Inflation Expectations”, (with Bruine de Bruin, W. van der Klauw, S. Potter, G. Topa and B. Zafar), Annual Review of Economics, 5, 273-301, 2013. Penultimate version.
“Comparing Corruption in the Lab and in the Field in Burkina Faso and in Canada”, (with A. Boly), The Economic Journal, Vol. 123, Issue 573, 1168-1187, 2013. Penultimate version. Additional Materials.
“Eliciting Beliefs: Proper Scoring Rule, Incentives, Stakes and Hedging”, (with N. Treich), European Economic Review, Volume 62, 17-40, 2013. Penultimate version. The paper received The European Economic Review Best Paper Award for the best paper in the journal European Economic Review in 2013.
"On the External Validity of Laboratory Experiments on Corruption", (with A. Boly), New Advances in Experimental Research on Corruption, in Research in Experimental Economics, Vol. 15, p 117-145, 2012. Penultimate version.
"The effect of question wording on consumers’ reported inflation expectations," (with W. Bruine de Bruine, W. van der Klauw, J. Downs, B. Fischoff, and G. Topa), Journal of Economic Psychology. Vol 33, Issue 4, 749-757, 2012. Penultimate version.
“A controlled Field Experiment on Corruption”, (with A. Boly). European Economic Review, Vol. 55, Issue 8, 1072-1082, 2011. Additional Materials (Instructions, Exam Paper, Photos). Penultimate version.
“Expectations of Inflation: The Role of Financial Literacy and Demographic Variables”, (with W. Bruine de Bruine, W. van der Klauw, J. Downs, B. Fischoff, and G. Topa), Journal of Consumer Affairs, Volume 44, Issue 2, 2010. Penultimate version.
"Comparison of Alternative Payment Mechanisms for French Treasury Auctions", (with E. Sbai), Annales d’Economie et de Statistique. Volume 93/94, 2009. Additional examples may be found here: Additional Examples. Penultimate version.
"Subjective Probabilities in Games: an Application to the Overbidding Puzzle”, (with N. Treich), International Economic Review, Vol 50, N. 4, 1079-1102, 2009. Auxiliary experimental results obtained with alternative belief elicitation techniques may be found here: Addendum 1. Tests for a strategy method and belief elicitation treatment effect may be found here: Addendum 2. Penultimate version.
“Star-shaped probability weighting functions and overbidding in first-price auctions”, (with N. Treich), Economics Letters,Vol 104, Issue 2, 83-85, 2009. Penultimate version.
"The Federal Reserve’s Term Auction Facility”, (with S. Krieger and J. McAndrews), Current Issues in Economics and Finance, Vol. 14, No. 5, 2008.
“Changes in the Timing Distribution of Fedwire Funds Transfers”, (with J. McAndrews and J. Arnold), Economic Policy Review, Vol. 14, No. 2, 2008.
“Approximation of Nash Equilibria in Bayesian Games” (with J.F. Richard and J.P. Florens), Journal of Applied Econometrics, Vol. 23, Issue 7, 965-981, 2008. Penultimate version.
"Domestic Airline Alliances and Consumer Welfare", (with O. Richard), RAND Journal of Economics, Vol.39, Issue 3, 875-904, 2008. Penultimate version.
"Prescription Drug Advertising and Patient Noncompliance: A Physician Agency Approach", (with S. Namoro), Advances in Economic Analysis & Policy, 6 (1), Article 5, 2006. Auxiliary Regression results may be found here: Regression. Penultimate version.
"Estimation and Comparison of Treasury Auction Formats when Bidders are Asymmetric", (with E. Sbai), Journal of Applied Econometrics, Vol.21, Issue 6, 745-779, 2006. Penultimate version.
"Do Wealth Differences Affect Fairness Consideration?", International Economic Review, Vol. 47, 391-429, 2006. Penultimate version.
"Evidence on Pricing from the Continental Airlines and Northwest Airlines Code-Share Agreement", (with O. Richard), Advances in Airline Economics 1, Elsevier Publisher, edited by Darin Lee, 2006. Penultimate version.
"Estimates of Own Lethal Risks and Anchoring Effects", The Journal of Risk and Uncertainty, Vol.32, 1, 37-56, 2006. Auxiliary results may be found here: Results. Penultimate version.
"Social Willingness to Pay and Mortality Risks", (with N. Treich), Journal of Risk and Uncertainty, Vol. 29:1, 7-19, 2004. Penultimate version.
"Does Observation Influence Learning", Games and Economic Behavior, Vol. 46, 221-239, 2004. Penultimate version.
"Entry and Exchanges of Cost Information", (with O. Richard), The Journal of Regulatory Economics, Vol.24, 223-241, 2003. Penultimate version.
"Exchanges of Cost Information in the Airline Industry", (with O. Richard), The RAND Journal of Economics, Vol. 34, 461-477, 2003. Penultimate version.
"Deciding Between the Common and Private Value Paradigms: an Application to Experimental Data", International Economic Review, Vol. 43(3), 783-803, 2002. Penultimate version.
"Empirical Game Theoretic Models: Computational Issues", (with J.F. Richard), Computational Economics, Vol 15(1-2), 3-24, 2000. Penultimate version.
"Equilibre approximatif et regle intuitive: une application aux appels d'offres dans l'industrie spatiale", (with J.P. Florens and J.F. Richard), Economie et Prevision, Vol. 132, 179-190, 1998. Penultimate version.
Submitted Papers
“The Curious Case of the Rise in Deflation Expectations,” (with G. Kosar, J. Somerville, G. Topa, W. van der Klaauw, and J. Williams), 2022.
“Can Discount Window Stigma be Cured? An Experimental Investigation” (with C. Holt), 2024.
“Nothing to Hide? Gender Differences in Willingness to Share data,” (with S. Doerr, J. Frost, A. Fuster and K. Shue), 2024.
Work in Progress
On the Perceived Pass-Through of Inflation to Wage Growth: A strategic Survey Experiment, (with G. Kosar, G. Topa, and W. van der Klaauw), 2024.
Discount Window Borrowing at the Onset of a Crisis: Can Random Borrowing Prevent Stigma? (with C. Holt), 2024.
Deflation Biases in the Lab, (with L. Petersen and D. Pjafar), 2023.
Eliciting Inflation Expectations in Surveys. Do Financial Incentives Matter? 2022.
Measurement Errors in Expectations Survey, (with W. van der Klauw), 2022.