Research Interests

Publications

• "Instantaneous Gratification", Quarterly Journal of Economics, 128, 2013, pp. 205-248 (with David Laibson) [Oxford Journals]
  This paper has changed considerably since the first draft was circulated in 2000. Some readers may be interested in results that only appear in earlier versions. These results did not make it into the final published version because of space constraints. The 2004 draft contains the most detailed results on the consumption function of the deterministic case (\sigma goes to 0). The 2011 draft contains the most detailed results on the general class of utility functions with wealth dependent, but bounded, relative risk version.
   
• "Games with Exhaustible Resources", SIAM Journal on Applied Mathematics, 70, 2010, pp. 2556-2581 (with Sam Howison and Ronnie Sircar) [SIAM Journals Online]
   
• "On Ultrapoverty", in Kaushik Basu and Ravi Kanbur (eds.), Arguments for a Better World: Essays in Honor of Amartya Sen,Vol. 1, pp. 311-336, Oxford University Press 2008 (with Sudhir Anand and Oliver Linton)
   
• "Fictitious Play in 3×3 Games: the transition between periodic and chaotic behaviour", Games and Economic Behavior, 63, 2008, pp. 259--291 (with Colin Sparrow and Sebastian van Strien) [Science Direct]
   
• "Nearly Compact and Continuous Normal Form Games: Characterizations and Equilibrium Existence", Games and Economic Behavior, 50, 2005, pp. 208–224 (with Max Stinchcombe, Bill Zame) [Science Direct]
   
• Hyperbolic Discounting and Consumption, in Mathias Dewatripont, Lars Peter Hansen and Stephen J Turnovsky (eds.), Advances in Economics and Econometrics, Vol. 1, pp. 258-297, CUP 2003 (with David Laibson)
   
• "Competition, Imitation and Growth with Step-by-Step Innovation", Review of Economic Studies, 68, 2001, pp. 467-492 (with Philippe Aghion, Peter Howitt and John Vickers) [JSTOR]
   
• "Dynamic Choices of Hyperbolic Consumers", Econometrica, 69, 2001, 935-958 (with David Laibson) [JSTOR]
   
• "Strategic Experimentation: the Undiscounted Case", in P J Hammond and G D Myles (eds.), Incentives and Organization: Essays in Honour of Sir James Mirrlees, Oxford University Press 2000 (with Patrick Bolton)
   
• "Strategic Experimentation", Econometrica, 67, 1999, 349-374 (with Patrick Bolton) [JSTOR]
   
• "On the Rate of Convergence of Continuous-Time Fictitious Play", Games and Economic Behavior, 22, 1998, pp. 238-259 [Science Direct]
   
• "Competition and Growth with Step-by-Step Innovation: An Example", European Economic Review, 41, 1997, pp. 771-782 (with Philippe Aghion and John Vickers) [Science Direct]
   
• "Learning, Wage Dynamics and Firm-Specific Human Capital", Journal of Political Economy, 104, 1996, pp. 838-868 (with Leonardo Felli) [JSTOR]
   
• "Innovation and Natural Resources: a Dynamic Game with Uncertainty", Rand Journal of Economics, 26, 1995, pp. 418-430 (with John Vickers) [JSTOR]
   
• "The Existence of Subgame-Perfect Equilibrium in Continuous Games with Almost Perfect Information: a Case for Public Randomization", Econometrica, 63, 1995, 507-544 (with Philip Reny and Arthur Robson) [JSTOR]
   
• "Choosing a Welfare Indicator", American Economic Review, Papers and Proceedings, 84, 1994, pp. 226-231 (with Sudhir Anand) [JSTOR]
   
• "A Model of the Evolution of Duopoly: Does the Asymmetry between Firms Increase or Decrease?", Review of Economic Studies, 1993, 60, no. 3, pp. 543-573 (with Chris Budd and John Vickers) [JSTOR]
   
• "Issues in the Measurement of Undernutrition from Household Budget Surveys", in S R Osmani (ed.), Nutrition and Poverty, OUP 1992 (with Sudhir Anand)
   
• "Evolutionary Dynamics with Aggregate Shocks", Journal of Economic Theory, 57, 1992, pp. 420-441 (with Drew Fudenberg) [Science Direct]
   
• "Optimal Learning by Experimentation", Review of Economic Studies, 58, 1991, pp. 621-654 (with Philippe Aghion, Patrick Bolton, Bruno Jullien) [JSTOR]
   
• "Food and Standard of Living in Sri Lanka", in Jean Dreze and Amartya Sen (eds.), The Political Economy of Hunger, Vol. 1, pp. 297-350, OUP 1990 (with Sudhir Anand)
   
• "Investment and Shadow Pricing in a Growing Economy with Tax Restrictions", Journal of Public Economics, 39, 1989, pp. 289-313 (with Chris Heady and Pradeep Mitra) [Science Direct]
   
• "Racing with Uncertainty", Review of Economic Studies, 54, 1987, pp. 1-21 (with John Vickers) [JSTOR]
   
• "A Model of Financial Innovation with Application to New Financial Products", Oxford Economic Papers, supplement, 38 1986, pp. 203-218 (with Ron Anderson, reprinted in Morris, Sinclair, Slater and Vickers (eds.), Strategic Behaviour and Industrial Competition, OUP 1986) [JSTOR]
   
• "Perfect Equilibrium in a Model of a Race", Review of Economic Studies, 52, 1985, pp. 193-209 (with John Vickers) [JSTOR]
   
• "Patent Races and the Persistence of Monopoly", Journal of Industrial Economics, supplement, 33, 1985, pp. 461-481 (with John Vickers, reprinted in Geroski, Phlips and Ulph (eds.) Oligopoly, Competition and Welfare, Basil Blackwell, 1985) [JSTOR]
   
• "A Characterization of the Perfect Equilibria of Infinite Horizon Games", Journal of Economic Theory, 37, 1985, pp. 99-125 [Science Direct]
   
• "Existence and Characterization of Perfect Equilibrium in Games of Perfect Information", Econometrica, 53, 1985, pp. 613-628 [JSTOR]

Working Papers

• "The Dynamics of Optimal Risk Sharing", National Bureau of Economic Research Working Paper, no. 16094, June 2010 (with Patrick Bolton)
   
• "Firm-Specific Training" (with Leonardo Felli)

The Janeway Institute for Economics

Teaching

PhD Students

Adrian Chung
PhD Title:
Research: Applied Economic Theory, Political Economy, and Industrial Organization