Douglas Gale

Professor, Department Of Economics

Papers

  • “A Note on Conjectural Equilibria,”  Review of Economic Studies 45 (1978) 33-38. (jstor)
  • “The Core of a Monetary Economy without Trust,” Journal of Economic  Theory 19 (1978) 456-491.
  • “Large Economies with Trading Uncertainty,”  Review of Economic  Studies 46 (1979) 319-338. (jstor)
  • “Money, Information and Equilibrium,”  Journal of Economic Theory 23 (1980) 28-65.
  • “Improving Coalitions in a Monetary Economy,” Review of Economic Studies 48 (1981) 365-384. (jstor)
  • “Competitive Models with Keynesian Features,”  Economic Journal 93 (1983) 17-33. (jstor)
  • “Incentive-Compatible Debt Contracts:  The One-Period Problem,” Review of Economic Studies 52 (1985) 647-663 (with M. Hellwig). (jstor)
  • “Bargaining and Competition, Part I:  Characterization,” Econometrica 54 (1986) 785-806. (jstor)
  • “Bargaining and Competition, Part II:  Existence,” Econometrica 54 (1986) 807-818. (jstor)
  • “Limit Theorems for Markets with Sequential Bargaining,” Journal of Economic Theory 43 (1987) 20-54.
  • “Price Setting and Competition in a Simple Duopoly Model,” Quarterly Journal of Economics 103 (1988) 729-740. (jstor)
  • “Optimal Security Design,” Review of Financial Studies 1 (1988) 229-263 (with F. Allen). (jstor)
  • “Repudiation and Renegotiation:  The Case of  Sovereign Debt,” International Economic Review 30 (1989) 3-31 (with M. Hellwig). (jstor)
  • “Incomplete Markets and the Incentives to Set up an Options Exchange,” Geneva Papers on Risk and Insurance Theory 15 (1990) 17-46 (with F. Allen). (jstor)
  • “Arbitrage, Short Sales and Financial Innovation,” Econometrica 59 (1991) 1041-1068 (with F. Allen). (jstor)
  • “Incomplete Mechanisms and Efficient Allocation in Labor Markets,” Review of Economic Studies 58 (1991) 823-851. (jstor)
  • “Optimal Risk-Sharing through Renegotiation of Simple Contracts,” Journal of Financial Intermediation 1 (1991) 283-306.
  • “Measurement Distortion and Missing Contingencies in Optimal Contracts,” Economic Theory 2 (1992) 1-26 (with F. Allen). (jstor)
  • “A Walrasian Theory of Markets with Adverse Selection,” Review of Economic Studies 59 (1992) 229-255. (jstor)
  • “Standard Securities,” Review of Economic Studies 59 (1992) 731-755. (jstor)
  • “Stock Price Manipulation,” Review of Financial Studies 5 (1992) 503-529 (with F. Allen). (jstor)
  • “Liquidity Preference, Market Participation and Asset Price Volatility,” American Economic Review 84 (1994) 933-955 (with Franklin Allen).
  • “Information Revelation and Strategic Delay in a Model of Investment,” Econometrica 62 (1994) 1065-1085 (with Christophe Chamley). (jstor)
  • “Price and Quality Cycles for Experience Goods,” The RAND Journal 25 (1994) 590-607 (with Robert Rosenthal). (jstor)
  • “Dynamic Coordination Games,” Economic Theory 5 (1995) 1-18. (jstor)
  • “A Welfare Comparison of Intermediaries and Financial Markets in Germany and the U.S.,” European Economic Review 39 (1995) 179-209 (with F. Allen).
  • “Equilibria and Pareto Optima of Markets with Adverse Selection,” Economic Theory 7 (1996) 207-235. (jstor)
  • “What Have We Learned from Social Learning?” European Economic Review, 40 (1996) 617-628. (pdf)
  • “Delay and Cycles,” Review of Economic Studies 63 (1996) 169-198. (jstor)
  • “Financial Markets, Financial Intermediaries and Intertemporal Smoothing” Journal of Political Economy 105 (1997) 523-546 (with F. Allen). (jstor)
  • “Spoiled for Choice: Variety and Efficiency in Markets with Incomplete Information,” Ricerche Economiche 51 (1997) 41-67.
  • “Optimal Financial Crises,” Journal of Finance 53 (1998) 1245-1284 (with F. Allen). (jstor)
  • “Innovations in Financial Services, Relationships and Risk Sharing,” Management Science 45 (1999) 1239-1253 (with F. Allen). (jstor)
  • “Experimentation, Imitation, and Strategic Stability,” Journal of Economic Theory 84 (1999) 1-40 (with R. Rosenthal). (pdf)
  • “Diversity of Opinion and Financing of New Technologies,” Journal of Financial Intermediation 8 (1999) 68-89 (with F. Allen).
  • “Bubbles, Crises, and Policy” Oxford Review of Economic Policy 15 (1999) 9-19 (with F. Allen). (jstor)
  • “The Asian Crisis and the Process of Contagion” Journal of Financial Compliance and Regulation 7 (1999) 243-249 (with F. Allen).
  • “Bubbles and Crises,” The Economic Journal 110 (2000) 236-256 (with F. Allen). (jstor)
  • “Financial Contagion,” Journal of Political Economy 108 (2000) 1-33 (with F. Allen). (pdf, jstor)
  • “Signaling in Markets with Two-Sided Adverse Selection” Economic Theory, 18 (2001) 391-414. (pdf, jstor)
  • “Experimentation, Imitation, and Strategic Stability: Addendum,” Journal of Economic Theory 97 (2001) 164-174 (with R. Rosenthal).
  • “Optimal Currency Crises” Carnegie-Rochester Conference Series on Public Policy 53 (2000) 177-230 (with F. Allen).(pdf)
  • “Monotone Games” Games and Economic Behavior 37 (2001) 295-320. (pdf)
  • “Dollarization, Bailouts, and the Stability of the Banking System” (with X. Vives) Quarterly Journal of Economics, 117 (2002) 467-502. (pdf, jstor)
  • “Bayesian Learning in Social Networks,” Games and Economic Behavior 45 (2003) 329-346 (with S. Kariv). (pdf)
  • “Competition and Financial Stability,” Journal of Money, Credit, and Banking 36 (2004) 453-480. (with F. Allen). (pdf. jstor)
  • “Financial Intermediaries and Markets,” Econometrica 72 (2004) 1023-1061. (with F. Allen). (pdf, jstor)
  • “Financial Fragility, Liquidity, and Asset Prices” (with F. Allen) Journal of the European Economic Association 2 (2004)1015-1048. (pdf, jstor)
  • “From Cash-in-the-Market Pricing to Financial Fragility” (with Franklin Allen) Journal of the European Economic Association 3 (2005) 535 – 546. (pdf, jstor)
  • “Are Bank Capital Ratios Too High or Too Low: Risk Aversion, Incomplete Markets, and Optimal Capital Structures,” (with Onur Özgür) Journal of the European Economic Association 3 (2005) 690 – 700. (pdf, jstor)
  • “Complexity and Competition” (with H. Sabourian) Econometrica 73 (2005) 739-769. (pdf, jstor)
  • “Markov Equilibria in Dynamic Matching and Bargaining Games” (with H. Sabourian) Games and Economic Behavior 54 (2006) 336-352. (pdf)
  • “Financial Networks,” (with Shachar Kariv) American Economic Review, Papers and Proceedings 97 (2007) 99 – 103. (pdf, jstor)
  • “Revealing Preferences Graphically: An Old Method Gets a New Tool Kit,” (with Syngjoo Choi, Raymond Fisman, and Shachar Kariv) American Economic Review, Papers and Proceedings 97 (2007) 153 – 158. (pdf, jstor)
  • “Consistency and Heterogeneity of Individual Behavior under Uncertainty,” (with Syngjoo Choi, Raymond Fisman, and Shachar Kariv) American Economic Review 97 (2007) 1921 – 1938. (pdf, jstor)
  • “Sequential Equilibrium in Monotone Games: A Theory-Based Analysis of Experimental Data,” (with Syngjoo Choi and Shachar Kariv) Journal of Economic Theory 143 (2008) 302-330. (pdf)
  • “Trading in Networks: A Normal Form Game Experiment,” (with Shachar Kariv) American Economic Journal: Microeconomics 1 (2009) 114-132. (pdf, jstor)
  • “Interbank Liquidity and Central Bank Intervention,” (with Franklin Allen and Elena Carletti) Journal of Monetary Economics 56 (2009) 639–652.
  • “Rollover Risk and Market Freezes,” (with Acharya and Yorulmazer) Journal of Finance 66 (2011) 1177–1209. (pdf, jstor)
  • “Bankruptcy, Finance Constraints and the Value of the Firm,” (with Gottardi) American Economic Journal: Micro 3 (2011) 1-31. (jstor)
  • “Network Architecture, Salience and Coordination,” (with Choi, Kariv and Palfrey) Games and Economic Behavior 73 (2011) 76–90. (pdf)
  • “Capital Regulation and Risk Sharing,” International Journal of Central Banking,  December (2010) 187-204.
  • “Liquidity Hoarding,” (with Tanju Yorulmazer) Theoretical Economics 66 (2011)1177–1209. (pdf)
  • “Social Learning in Networks: A Quantal Response Equilibrium Analysis of Experimental Data,”(with Syngjoo Choi and Shachar Kariv) Review of Economic Design 16 (2012) 135-157. (pdf)
  • “Money, Financial Stability and Efficiency,” (with Franklin Allen and Elena Carletti) Journal of Economic Theory 149 (2014) 100–127. (pdf)
  • “Estimating Ambiguity Aversion in a Portfolio Choice Experiment,” (with David Ahn, Syngjoo Choi and Shachar Kariv) Quantitative Economics 5 (2014) 195–494. (pdf)
  • “Capital Structure and Investment with Fire Sales,” (with Piero Gottardi) Review of Financial Studies 28 (2015) 2502-2533. (Oxford Journal)
  • “Regulation and Sausages,” The Manchester School, Special Issue: Proceeding of the Money, Macroeconomics and Finance Research Group, 83 (2015) 1–26.