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Jel Classification:C9 

Working Paper
Liquidity Requirements and the Interbank Loan Market: An Experimental Investigation

We develop a stylized interbank market environment and use it to evaluate with experimental methods the effects of liquidity requirements. Baseline and liquidity-regulated regimes are analyzed in a simple shock environment, which features a single idiosyncratic shock, and in a compound shock environment, in which the idiosyncratic shock is followed by a randomly occurring second-stage shock. Interbank trading of the illiquid asset follows each shock. In the simple shock environment, we find that liquidity regulations reduce the incidence of bankruptcies, but at a large loss of investment ...
Working Papers (Old Series) , Paper 1810

Working Paper
An Experimental Analysis of Quality Misperception in Food Labels

The size and distribution of surplus in markets where credence quality attributes of food (e.g., organic, non-GMO) are conveyed through some informational mechanism (typically labels) crucially depend on 1) how information changes consumers’ perception of quality and 2) producers’ strategic choice of quality provision in response to changes in consumers’ perception of quality. This paper examines the hypothesis that consumers’ misperception of quality information can provide incentives to sellers to increase quality and offset the lower quality that exists in markets where firms ...
Research Working Paper , Paper RWP 23-11

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