Ryota Iijima Harvard University

Total Page:16

File Type:pdf, Size:1020Kb

Ryota Iijima Harvard University RYOTA IIJIMA <http://scholar.harvard.edu/riijima> <[email protected]> HARVARD UNIVERSITY Placement Director: Gita Gopinath [email protected] 617-495-8161 Placement Director: Nathan Nunn [email protected] 617-496-4958 Graduate Administrator: Brenda Piquet [email protected] 617-495-8927 Office Contact Information Littauer Center 314, 1805 Cambridge Street Cambridge, MA, 02138 617-301-2156 Undergraduate Studies: B.A. in Economics, University of Tokyo, 2009 Graduate Studies: M.A. in Economics, University of Tokyo, 2011 Harvard University, 2011 to present Ph.D. Candidate in Economics Thesis Title: “Essays in Games and Decisions with Uncertainty” Expected Completion Date: June 2016 References: Professor Drew Fudenberg Professor Tomasz Strzalecki Littauer Center 310 Littauer Center 322 [email protected] [email protected] Professor Benjamin Golub Littauer Center 308 [email protected] Teaching and Research Fields: Microeconomic theory, Game Theory, Decision Theory, Networks Teaching Experience: Fall, 2014 Decision Theory (graduate), Harvard University, grader for Professor Tomasz Strzalecki Spring, 2011 Calculus (undergraduate), University of Tokyo, teaching fellow for Professor Kazuya Kamiya Spring, 2010 Microeconomic Theory (graduate), University of Tokyo, teaching fellow for Professor Michihiro Kandori Fall, 2010 Microeconomic Theory (graduate), University of Tokyo, teaching fellow for Professor Akihiko Matsui Fall 2009 Microeconomics (undergraduate), University of Tokyo, teaching fellow for Professor Akihiko Matsui Spring, 2009 Mathematics for Economics (graduate), University of Tokyo, teaching fellow for Professor Akihiko Matsui Research Experience: 2013-2015 Research Assistant to Professor Drew Fudenberg Professional Activities Presentations: RUD (Bocconi 2015), World Congress of the Econometric Society (Montreal 2015), University of Tokyo (2013, 2015), Hitotsubashi University (2015), Kyoto University (2015), University of Wisconsin-Madison (Theory Lunch 2013), WINE (Harvard 2013), Games 2012 (Istanbul), 6th Pan- Pacific Conference on Game Theory (Tokyo Institute of Technology 2010), Darwin Seminar (Tokyo Institute of Technology 2010), Second Brazilian Workshop of the Game Theory Society (2010), The Chinese Game Theory and Experimental Economics Association (2010), Conference ``Evolution of Cooperation: Models and Theories" (Laxenburg 2009), Far East and South Asia Meeting of the Econometric Society (Tokyo 2009) Referee: Dynamic Games and Applications, Econometrica, Games and Economic Behavior, Journal of Economic Theory, Quarterly Journal of Economics, Theoretical Economics Honors, Scholarships, and Fellowships: 2015-2016 Dissertation Completion Fellowship, Harvard University 2011-present Harvard Grant 2011 Research Fellow of Japan Society for the Promotion of Science (DC1) Publications: “Stochastic Choice and Revealed Perturbed Utility” (with Drew Fudenberg and Tomasz Strzalecki), forthcoming in Econometrica “Iterated Generalized Half-Dominance and Global Game Selection”, Journal of Economic Theory, 159: 120-136, 2015 “On Delayed Discrete Evolutionary Dynamics” Journal of Theoretical Biology, 300(7): 1-6, 2012 “Heterogeneous Information Lags and Evolutionary Stability” Mathematical Social Sciences, 61(2): 83- 85, 2011 Research Papers: “Gradual Adjustment and Equilibrium Uniqueness under Noisy Monitoring” (with Akitada Kasahara) (Job Market Paper) (2nd revision resubmitted to Econometrica) Abstract: We study the implications of flexible adjustment in strategic interactions using a class of finite-horizon models in continuous time. Players take costly actions to affect the evolution of state variables that are commonly observable and perturbed by Brownian noise. The values of these state variables influence players' terminal payoffs at the deadline, as well as their flow payoffs. In contrast to the static case, the equilibrium is unique under a general class of terminal payoff functions. Our characterization of the equilibrium builds on recent developments in the theory of backward stochastic differential equations (BSDEs). We use this tool to analyze applications, including team production, hold-up problems, and dynamic contests. In a team production model, the unique equilibrium selects an efficient outcome when frictions vanish. “Comparative Measures of Naiveté” (with David S. Ahn and Todd Sarver) “Unique Equilibrium Selection and Potential: A Continuous-Time Approach” (with Akitada Kasahara) “Social Distance and Network Structures” (with Yuichiro Kamada) revise and resubmit at Theoretical Economics “Deterministic Equilibrium Selection under Payoff-Perturbed Dynamics” Research Papers in progress: “Racing to Decide: A Dual Selves Model of Response Times and Stochastic Choice” (with Mira Frick) “Naiveté about Temptation and Self-Control: Foundations for Naive Quasi-Hyperbolic Discounting” (with David S. Ahn and Todd Sarver) “Coordination Failure and Network Structures” “Mean-Field Approximation of Forward-Looking Population Dynamics” (with Daisuke Oyama) “Timing of Trades, Welfare, and Price Dispersion” (with Yuichiro Kamada) .
Recommended publications
  • Updated October 2015
    Updated October 2015 SAM ASHER http://samuelasher.com [email protected] [email protected] HARVARD UNIVERSITY Placement Director: David Cutler DCUTLER @HARVARD.EDU 617-496-5216 Placement Director: Oliver Hart OHART @FAS.HARVARD.EDU 617-496-3461 Graduate Administrator: Brenda Piquet [email protected] 617-495-8927 Contact Information Department of Economics, University of Oxford Oxford OX1 3UQ, UK UK: +44 7763511365 US: +1 (413) 519 9650 Employment Postdoctoral Research Fellow, Nuffield College and Economics Department, University of Oxford (September 2013 – August 2016) Academic Affiliations Research Fellow, Centre for the Study of African Economies, University of Oxford (2013 – present) Research Associate, Oxford Centre for the Analysis of Resource Rich Economies (2013 – present) Associate, Center for International Development, Harvard University (2013 – present) Affiliate, Centre for Policy Research, New Delhi (2014 – present) Education Harvard University, Ph.D. in Economics, 2013 Yale University, B.A. in Ethics, Politics and Economics magna cum laude, 2004 References Asim Khwaja Andrei Shleifer Sumitomo Foundation Professor of International Professor of Economics Finance and Development Department of Economics Harvard Kennedy School Harvard University Harvard University [email protected] [email protected] +1 (617) 495-5046 +1 (617) 384-7790 Professor Edward Glaeser Douglas Gollin Fred and Eleanor Glimp Professor of Economics Professor of Development Economics Department of Economics Department
    [Show full text]
  • Journal of Mechanism and Institution Design Volume 2, Issue 1
    “jMID-vol2(1)-01” — 2018/1/16 — 12:43 — page i — #1 Journal of Mechanism and Institution Design Volume 2, Issue 1 Zaifu Yang, Tommy Andersson, Vince Crawford, Yuan Ju, Paul Schweinzer University of York, University of Klagenfurt, Southwestern University of Economics and Finance, 2017 “jMID-vol2(1)-01” — 2018/1/16 — 12:43 — page ii — #2 Journal of Mechanism and Institution Design, 2(1), 2017, ii Editorial board Editor Zaifu Yang, University of York, UK Co-editors Tommy Andersson, Lund University, Sweden Vincent Crawford, Oxford University, UK Yuan Ju, University of York, UK Paul Schweinzer, Alpen-Adria-Universität Klagenfurt, Austria Associate Editors Peter Biro, Hungarian Academy of Sciences, Hungary Randall Calvert, Washington University in St. Louis, USA Kim-Sau Chung, The Chinese University of Hong Kong, Hong Kong Michael Suk-Young Chwe, University of California, Los Angeles, USA Xiaotie Deng, Shanghai Jiao Tong University, China Lars Ehlers, Université de Montréal, Canada Aytek Erdil, University of Cambridge, UK Robert Evans, University of Cambridge, UK Tamás Fleiner, Eötvös Loránd University, Hungary Alex Gershkov, Hebrew University of Jerusalem, Israel Sayantan Ghosal, University of Glasgow, UK Paul Goldberg, University of Oxford, UK Claus-Jochen Haake, Universität Paderborn, Germany John Hatfield, University of Texas at Austin, USA Paul Healy, Ohio State University, USA Jean-Jacques Herings, Maastricht University, Netherlands Sergei Izmalkov, New Economic School, Russia Ian Jewitt, Oxford University, UK Yuichiro Kamada, University
    [Show full text]
  • Ryota Iijima Harvard University
    RYOTA IIJIMA <http://scholar.harvard.edu/riijima> <[email protected]> HARVARD UNIVERSITY Placement Director: David Cutler [email protected] 617-496-5216 Placement Director: Oliver Hart [email protected] 617-496-3461 Graduate Administrator: Brenda Piquet [email protected] 617-495-8927 Office Contact Information Littauer Center 314, 1805 Cambridge Street Cambridge, MA, 02138 617-301-2156 Undergraduate Studies: B.A. in Economics, University of Tokyo, 2009 Graduate Studies: M.A. in Economics, University of Tokyo, 2011 Harvard University, 2011 to present Ph.D. Candidate in Economics Thesis Title: “Essays in Games and Decisions with Uncertainty” Expected Completion Date: June 2016 References: Professor Drew Fudenberg Professor Tomasz Strzalecki Littauer Center 310 Littauer Center 322 [email protected] [email protected] Professor Benjamin Golub Littauer Center 308 [email protected] Teaching and Research Fields: Microeconomic Theory, Game Theory, Decision Theory, Networks Teaching Experience: Fall, 2014 Decision Theory (graduate), Harvard University, grader for Professor Tomasz Strzalecki Spring, 2011 Calculus (undergraduate), University of Tokyo, teaching fellow for Professor Kazuya Kamiya Spring, 2010 Microeconomic Theory (graduate), University of Tokyo, teaching fellow for Professor Michihiro Kandori Fall, 2010 Microeconomic Theory (graduate), University of Tokyo, teaching fellow for Professor Akihiko Matsui Fall 2009 Microeconomics (undergraduate), University of Tokyo, teaching fellow for Professor Akihiko
    [Show full text]
  • Hysteresis in Dynamic General Equilibrium Models with Cash-In-Advance Constraints
    CIRJE-F-765 Hysteresis in Dynamic General Equilibrium Models with Cash-in-Advance Constraints Kazuya Kamiya University of Tokyo Takashi Shimizu Kansai University October 2010 CIRJE Discussion Papers can be downloaded without charge from: http://www.e.u-tokyo.ac.jp/cirje/research/03research02dp.html Discussion Papers are a series of manuscripts in their draft form. They are not intended for circulation or distribution except as indicated by the author. For that reason Discussion Papers may not be reproduced or distributed without the written consent of the author. Hysteresis in Dynamic General Equilibrium Models with Cash-in-Advance Constraints¤ Kazuya Kamiyayand Takashi Shimizuz October 2010 Abstract In this paper, we investigate equilibrium cycles in dynamic general equilibrium models with cash-in-advance constraints. Our findings are two-fold. First, in such models, if an equilibrium cycle exists, then there also exists a continuum of equilibrium cycles in its neighborhood. Second, the limit cycle, to which a dynamic path converges, varies continuously according to the initial distribution of the money holdings. Thus, temporary shocks that affect the initial distribution have permanent effects in such models; that is, such models exhibit hysteresis. Furthermore, we also explore the logic behind the results. Keywords: Dynamic General Equilibrium Models, Cash-in-Advance, Cycles, Hysteresis. JEL Classification Number: D51, E40, E50, E60. 1 Introduction In this paper, we investigate equilibrium cycles in dynamic general equilibrium models with cash- in-advance constraints, wherein each agent’s money holding varies over time. We first show that a continuum of equilibrium cycles exists in a specific model with cash-in-advance constraints, and that the limit cycle, to which a dynamic path converges, varies continuously according to the initial distribution of money holdings.
    [Show full text]
  • Liquidity: a New Monetarist Perspective∗
    Liquidity: A New Monetarist Perspective∗ Ricardo Lagos Guillaume Rocheteau NYU UC-Irvine Randall Wright UW-Madison, FRB Minneapolis, FRB Chicago, and NBER August 19, 2015 Abstract This essay surveys the New Monetarist approach to liquidity. Work in this literature strives for empirical and policy relevance, plus rigorous foundations. Questions include: What is liquidity? Is money essential in achieving desir- able outcomes? Which objects can or should serve in this capacity? When can asset prices differ from fundamentals? What are the functions of com- mitment and collateral in credit markets? How does money interact with credit and intermediation? How can and should monetary policy do? The re- search summarized emphasizes the micro structure of frictional transactions, and studies how institutions like monetary exchange, credit arrangements or intermediation facilitate the process. ∗A previous version of this essay circulated as “The Art of Monetary Theory: A New Mon- etarist Perspective” (to pay homage to Clarida et al. 1999). For comments we thank the editor and four referees. Particularly useful input was also provided by David Andolfatto, Ed Green, Ri- cardo Cavalcanti, Mei Dong, John Duffy, Pedro Gomis-Porqueras, Ian King, Yiting Li, Narayana Kocherlakota, Andy Postlewaite, Daniella Puzzello, Mario Silva, Alberto Trejos, Neil Wallace, Steve Williamson and Sylvia Xiao. Parts of the essay were delivered by Wright as the 2011 Toulouse Lectures over a week at the Toulouse School of Economics, and he thanks them for their generous hospitality. Wright also acknowledges the NSF and the Ray Zemon Chair in Liquid Assets at the Wisconsin School of Business for research support. Lagos acknowledges the C.V.
    [Show full text]
  • Carf.Eu-Tokyo.Ac.Jp
    CARF Working Paper CARF-F-025 On the Role of Tax-Subsidy Scheme in Money Search Models Kazuya Kamiya University of Tokyo Takashi Shimizu Kansai University March 2005 CARF is presently supported by Bank of Tokyo-Mitsubishi UFJ, Ltd., Dai-ichi Mutual Life Insurance Company, Meiji Yasuda Life Insurance Company, Mizuho Financial Group, Inc., Nippon Life Insurance Company, Nomura Holdings, Inc. and Sumitomo Mitsui Banking Corporation (in alphabetical order). This financial support enables us to issue CARF Working Papers. CARF Working Papers can be downloaded without charge from: http://www.carf.e.u-tokyo.ac.jp/workingpaper/index.cgi Working Papers are a series of manuscripts in their draft form. They are not intended for circulation or distribution except as indicated by the author. For that reason Working Papers may not be reproduced or distributed without the written consent of the author. On the Role of Tax-Subsidy Scheme in Money Search Models∗ Kazuya Kamiya†and Takashi Shimizu‡ March 2005 Abstract This paper investigates the role of policy in money search models with divisible money. Recently, real indeterminacy of stationary equilibria has been found in both specific and general search models with divisible money. Thus if we assume the divisibility of money, it would be quite difficult to make accurate predictions of the effects of simple monetary policies. Instead, we show that some tax-subsidy schemes select a determinate efficient equilibrium. In other words, for a given efficient equilibrium and for any real number δ>0, a certain tax-subsidy scheme induces a locally determinate equilibrium within the δ-neighborhood of the given equilibrium.
    [Show full text]
  • The 6Th Conference on Mathematical Analysis in Economic Theory
    The 6th Conference on Mathematical Analysis in Economic Theory Date: January 26(Mon) – 29(Thu), 2015 Venue: Lecture Hall, East Research Building, Keio University 2-15-45 Mita, Minato-ku, Tokyo 108-8345, JAPAN organized by information The Japanese Society for Toru Maruyama Mathematical Economics Department of Economics, Keio University cosponsored by 2-15-45 Mita, Minato-ku, Tokyo Keio Economic Society TEL: 03-3453-4511 ex. 23271 The Oak Society, Inc. FAX: 03-5427-1578 E-mail: [email protected] Programme January 26 (Monday) *:Speaker Morning Chair : Takuji Arai (Keio University) 9:00-10:00 Keita Owari (The University of Tokyo) On the Lebesgue property and related regularities of monotone convex functions on Orlicz spaces 10:00-11:00 Shigeo Kusuoka (The University of Tokyo) Expectation of diffusion process with absorbing boundary 11:10-12:10 Robert Anderson (UC Berkeley), L.R. Goldberg, N. Gunther The cost of financing leveraged US equity through futures Afternoon Chair : Ryozo Miura (Hitotsubashi University) 13:30-14:30 Takuji Arai (Keio University) Local risk-minimization for Barndorff-Nielsen and Shephard models 14:30-15:30 Katsumasa Nishide (Yokohama National University) Heston-type stochastic volatility with a Markov switching regime Chair : Ken Urai (Osaka University) 16:00-17:00 Hisashi Inaba (The University of Tokyo) Recent developments of the basic reproduction number theory in population dynamics 17:00-18:00 Takashi Suzuki *(Meiji Gakuin University), Nobusumi Sagara Exchange economies with infinitely many commodities and
    [Show full text]
  • On a Spontaneous Decentralized Market Process
    “jMID-vol2(1)-01” — 2018/1/16 — 12:43 — page 1 — #5 “p˙01” — 2017/12/7 — 12:27 — page 1 — #1 Journal of Mechanism and Institution Design ISSN: 2399-844X (Print), 2399-8458 (Online) DOI:10.22574/jmid.2017.12.001 ON A SPONTANEOUS DECENTRALIZED MARKET PROCESS Satoru Fujishige Kyoto University, Japan [email protected] Zaifu Yang University of York, United Kingdom [email protected] ABSTRACT We examine a spontaneous decentralized market process widely observed in real life labor markets. This is a natural random decentralized dynamic compet- itive process. We show that this process converges globally and almost surely to a competitive equilibrium. This result is surprisingly general by assuming only the existence of an equilibrium. Our findings have also meaningful policy implications. Keywords: Spontaneous market process, decentralized market, competitive equilibrium. JEL classification: C71, C78, D02, D44, D58. This research is supported by JSPS KAKENHI Number (B)25280004 and DERS RIS grant of York. We thank Tommy Andersson, Bo Chen, Yan Chen, Miguel Costa-Gomes, Vincent Crawford, Peter Eso, Sanjeev Goyal, Yorgos Gerasimou, Kazuya Kamiya, Michihiro Kandori, Fuhito Kojima, Alan Krause, Jingfeng Lu, Eric Mohlin, Alex Nichifor, In-Uck Park, Herakles Polemarchakis, Alvin Roth, Hamid Sabourian, Yaneng Sun, Satoru Takahashi, Dolf Talman, Mich Tvede, Hao Wang, Siyang Xiong, William Zame, Jie Zheng, and many participants at Bristol, Cambridge, Chinese Academy of Sciences, Kobe, Lund, NUS (Singapore), Oxford, Peking, St Andrews, SWUFE, Tilburg, Tokyo, Tsinghua, 2016 China Meeting of Econometric Society (Chengdu), 2016 Workshop of Midlands Economics Theory and Applications (York), and General Equilibrium Workshop (York) for their valuable comments which helped us improve the paper.
    [Show full text]
  • On a Spontaneous Decentralized Market Process
    “p˙01” — 2017/12/7 — 12:27 — page 1 — #1 Journal of Mechanism and Institution Design ISSN: 2399-844X (Print), 2399-8458 (Online) DOI:10.22574/jmid.2017.12.001 ON A SPONTANEOUS DECENTRALIZED MARKET PROCESS Satoru Fujishige Kyoto University, Japan [email protected] Zaifu Yang University of York, United Kingdom [email protected] ABSTRACT We examine a spontaneous decentralized market process widely observed in real life labor markets. This is a natural random decentralized dynamic compet- itive process. We show that this process converges globally and almost surely to a competitive equilibrium. This result is surprisingly general by assuming only the existence of an equilibrium. Our findings have also meaningful policy implications. Keywords: Spontaneous market process, decentralized market, competitive equilibrium. JEL classification: C71, C78, D02, D44, D58. This research is supported by JSPS KAKENHI Number (B)25280004 and DERS RIS grant of York. We thank Tommy Andersson, Bo Chen, Yan Chen, Miguel Costa-Gomes, Vincent Crawford, Peter Eso, Sanjeev Goyal, Yorgos Gerasimou, Kazuya Kamiya, Michihiro Kandori, Fuhito Kojima, Alan Krause, Jingfeng Lu, Eric Mohlin, Alex Nichifor, In-Uck Park, Herakles Polemarchakis, Alvin Roth, Hamid Sabourian, Yaneng Sun, Satoru Takahashi, Dolf Talman, Mich Tvede, Hao Wang, Siyang Xiong, William Zame, Jie Zheng, and many participants at Bristol, Cambridge, Chinese Academy of Sciences, Kobe, Lund, NUS (Singapore), Oxford, Peking, St Andrews, SWUFE, Tilburg, Tokyo, Tsinghua, 2016 China Meeting of Econometric Society (Chengdu), 2016 Workshop of Midlands Economics Theory and Applications (York), and General Equilibrium Workshop (York) for their valuable comments which helped us improve the paper.
    [Show full text]