The purpose of this article is to get mathematicians interested in studying a number of partial
differential equations (PDEs) that naturally arise in macroeconomics. These PDEs come …

I present closed-form solutions for prices, portfolios, and beliefs in a model where four types
of investors trade assets over time: naive investors who learn via a social network,“fanatics” …

I review the recent literature that applies search-and-matching theory to the study of over-the-
counter financial markets. I formulate and solve a simple model to illustrate the typical …

ABSTRACT I discuss a new intellectual paradigm, social economics and finance—the study
of the social processes that shape economic thinking and behavior. This emerging field …

The recent financial crisis has prompted much new research on the interconnectedness of
the modern financial system and the extent to which it contributes to systemic fragility …

The lion's share of this chapter is devoted to the construction of equilibria for mean field
games with a common noise. We develop a general two-step strategy for the search of weak …

This paper examines the performance of new online lending markets that rely on nonexpert
individuals to screen their peers' creditworthiness. We find that these peer lenders predict an …

An authoritative graduate textbook on information choice, an exciting frontier of research in
economics and finance Most theories in economics and finance predict what people will do …

Exchanges operate limit-order markets where non-synchronous investors can trade. An
early investor can leave a price quote for a late investor to consume. High-tech, informed …

Most assets are traded in multiple interconnected trading venues. This paper develops an
equilibrium model of decentralized markets that accommodates general market structures …