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The Cambridge-INET led, COVID-19 Economic Research website has an extensive collection of special features, research papers, blogs and videos, by Cambridge Academics that look into the pandemic and it’s economics effects,
Dr. Constantine Yannelis' visit
We were delighted to welcome Dr. Constantine Yannelis to the Janeway Institute from 5th June to 16th July this summer. He was hosted by Prof. Florin Bilbiie, Prof. Meredith Crowley and Prof. Tiago Cavalcanti.
Dr. Yannelis is an Associate Professor of Finance at Chicago Booth, a faculty research fellow at the National Bureau of Economic Research and an Associate Editor at the Review of Corporate Finance Studies. His research focuses on household finance, corporate finance, public finance, human capital and student loans.
In 2021, Dr. Yanneils won the 2021 AQR Young Researcher Award, recognizing talented new academics producing innovative and impactful research.
Markov Decision Process and Reinforcement Learning
The Janeway Institute and the Department of Mathematics and the Department of Economics at the National University of Singapore will be co-sponsoring a workshop from 22nd-23rd September 2023.
Capability Accumulation and Conglomeratization in the Information Age
This paper by Professor Matt Elliott with Andrew Koh (PhD. candidate, MIT) and Dr. Jun Chen (Associate Professor, Renmin University of China) has been accepted for publication in the Journal of Economic Theory.
The past twenty years have witnessed the emergence of internet conglomerates fueled by acquisitions.
The authors build a simple model of network formation to study this. Following the resource-based view of competitive advantage from the management literature they endow firms with capabilities which drive their competitiveness across markets. Firms can merge to combine their capabilities, spin-off new firms by partitioning their capabilities, or procure unassigned capabilities.
They study stable industry structures (stable networks) in which none of these deviations are profitable and find an upper and lower bound on the size of the largest firm, and show that as markets value more of the same capabilities abrupt increases in these bounds occur.