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X Abstract
"Liquidity Hoarding," (with Tanju Yorulmazer) New 2011-08-30

"Money, Financial Stability and Efficiency," (with Franklin Allen and Elena Carletti) New 2011-01-16

"Rollover Risk and Market Freezes," (with Viral Acharya and Tanju Yorulmazer) Revised 2011-01-21

"Trading in Networks: A Normal Form Game Experiment," (with Shachar Kariv) Revised 2008-09-08
Appendix 1, Appendix 2

"Illiquidity and Under-Valuation of Firms," (with Piero Gottardi) New 2008-09-01

"Network Architecture, Salience and Coordination" (with S. Choi, S. Kariv and T. Palfrey) Revised 2011-02-02
Appendix 1, Appendix 2
, Appendix 3

"Estimating Ambiguity Aversion in a Portfolio Choice Experiment" (with D. Ahn, S. Choi, and S. Kariv) Revised 2011-01-13
Appendix 1, Appendix 2, Appendix 3, Appendix 4

"An Introduction to Financial Crises"  (with Franklin Allen) New 2007-08-19

"Consistency and Heterogeneity of Individual Behavior under Uncertainty," (with S. Choi, R. Fisman, and S. Kariv) New 2007-04-10  


Appendices for "Consistency and Heterogeneity ..."    
"Financial Networks," (with Shachar Kariv) New 2007-01-01   small ball  
"Revealing Preferences Graphically: An Old Method Gets a New Tool Kit," (with Syngjoo Choi, Raymond Fisman, and Shachar Kariv)" New 2006-12-30  


"Substantive and Procedural Rationality in Decisions Under Uncertainty," (with Syngjoo Choi, Ray Fisman, and Shachar Kariv) Revised 2006-03-31

"Sequential Equilibrium in Monotone Games: A Theory-Based Analysis of Experimental Data" (with Syngjoo Choi and Shachar Kariv) Revised 2006-012-20

"Systemic Risk and Regulation" (with Franklin Allen) Revised 2005-02-12

"From Cash-in-the-Market Pricing to Financial Fragility" (with Franklin Allen) New 2004-09-03

"Are Bank Capital Ratios Too High or Too Low: Risk Aversion, Incomplete Markets, and Optimal Capital Structures"  (with  Onur Özgür)  New 2004-08-30

"Financial Fragility" (with Franklin Allen) Revised 2004-07-18

"Behavioral Aspects of Learning in Social Networks: An Experimental Study" (with Syngjoo Choi and Shachar Kariv) Revised 2004-10-21

"Complexity and competition, Part I: Sequential Matching" (with Hamid Sabourian) Revised 2004-02-22

The following paper is based on the 2002 Fisher Schultz Lecture, presented at the European Meetings of the Econometric Society, at San Giorgio Maggiore, Venice, in August 2002.
  • "Liquidity, Interest, and Asset Prices" Revised 2005-01-01

"Learning in Networks: An Experimental Study" (with Syngjoo Choi and Shachar Kariv) Revised 2005-06-13

"Notes on Optimal Capital Regulation" New January 30, 2004

"Competition and Financial Stability" (with Franklin Allen) New September 6, 2003

"Bayesian Learning in Social Networks" (with Shachar Kariv) Revised March 13, 2003

"Comparing Financial Systems: A Survey" (with Franklin Allen) New April 2001
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"Markov Equilibria in Dynamic Matching and Bargaining Games," (with Hamid Sabourian) Revised 2004-11-02
"Financial Intermediaries and Markets" (with Franklin Allen) Final version December 2003 This paper was previously titled "Banking and Markets"
"Prudential Regulation of Banks: An Addendum to 'Financial Intermediaries and Markets' " (with Franklin Allen)
"Existence of Equilibrium: An Addendum to 'Financial Intermediaries and Markets' " (with Franklin Allen) 
"Dollarization, Bailouts and the Stability of the Banking System" (with Xavier Vives)    Revised July 1, 2001
"Optimal Currency Crises" (with Franklin Allen)  Revised April 25, 2000

"Financial Contagion" (with Franklin Allen) 
"Monotone Games"Revised August 25, 2000
"Corporate Governance and Competition" (with Franklin Allen) 
"Signaling in Markets with Two-Sided Adverse Selection"Revised September 13, 1999

"Imitator-Experimenter Dynamics: A Complete Characterization" (with Robert Rosenthal) New February 1, 2000

Conference papers

The following notes were prepared for a conference on "Financial Crises and Global Governance"  held at the London School of Economics, October 13 and 14, 2000.
  • "Understanding Financial Crises"


The following notes were prepared for a Riksbank conference on "Asset Price Bubbles and Monetary Policy" held in Stockholm, June 16 and 17, 2000.
  • "Asset Price Bubbles and Monetary Policy" 

This paper was presented as the keynote address to a conference at the John Deutsch Institute at Queen's University, “Framing Financial Structure in an Information Environment”, December 13-14. 
  • "Financial Regulation in a Changing Environment" 
"Comparative Theory of Corporate Governance"

The following is a comment on the paper by Gobert, Gonzalez, Lai and Poitevin, with the same title, which was presented at a confence held at the Bank of Canada on December 4-5, 2003.

  • "Endogenous Valuation and Financial Fragility: A Comment"

"Systemic Risk and Regulation"

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The support of the National Science Foundation through grant SES 9810912 and the C.V. Starr Center for Applied Economics at New York University is gratefully acknowledged