Speaker:  Sarah Moshary (University of Chicago) Title:  Deregulation through Direct Democracy: Lessons from Liquor Abstract:  This paper examines the merits of state control versus private provision of spirits retail, using the 2012 deregulation of liquor sales in Washington state as an event study. We document effects along a number of dimensions: prices, product variety, convenience, substitution to other goods, […]

Speaker: Pietro Veronesi (University of Chicago) Title: Inequality Aversion, Populism, and the Backlash Against Globalization Abstract: Motivated by the recent rise of populism in western democracies, we develop a model in which a populist backlash emerges endogenously in a growing economy. In the model, voters dislike inequality, especially the high consumption of "elites." Economic growth exacerbates inequality due to […]

Speaker: Yi-Zhuang You (UCSD) Title: Machine Learning Physics: From Quantum Mechanics to Holographic Geometry Abstract: Inspired by the "third wave" of artificial intelligence (AI), machine learning has found rapid applications in various topics of physics research. Perhaps one of the most ambitious goals of machine learning physics is to develop novel approaches that ultimately allows AI to discover new concepts and governing equations of physics from experimental observations. […]

Speaker: Shengwu Li (Harvard) Title: Credible Mechanisms Abstract: Consider an extensive-form mechanism, run by an auctioneer who communicates sequentially and privately with agents. Suppose the auctioneer can deviate from the rules provided that no single agent detects the deviation. A mechanism is credible if it is incentive-compatible for the auctioneer to follow the rules. We study the optimal auctions in which only winners […]