Details about Douglas Gale

E-mail:
Homepage:	http://www.nyu.edu/econ/user/galed/
Phone:	(212) 998-8944
Postal address:	Department of Economics New York University 269 Mercer Street New York NY 10003 USA
Workplace:	Department of Economics, New York University, (more information at EDIRC)

Access statistics for papers by Douglas Gale.

Last updated 2009-09-15. Update your information in the RePEc Author Service.

Short-id: pga41

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Working Papers

2009

1. Interbank Market Liquidity and Central Bank Intervention
   Economics Working Papers, European University Institute
2. Rollover Risk and Market Freezes
   CEPR Discussion Papers, C.E.P.R. Discussion Papers

2008

3. Estimating Ambiguity Aversion in a Portfolio Choice Experiment
   Levine's Bibliography, UCLA Department of Economics
4. Illiquidity and Under-Valuation of Firms
   Working Papers, University of Venice "Ca' Foscari", Department of Economics
5. Network Architecture, Salience and Coordination
   Levine's Bibliography, UCLA Department of Economics
   Also in Working Papers, California Institute of Technology, Division of the Humanities and Social Sciences

2007

6. Consistency, Heterogeneity, and Granularity of Individual Behavior under Uncertainty
   Economics Working Papers, Institute for Advanced Study, School of Social Science
   Also in Levine's Bibliography, UCLA Department of Economics (2007)
7. Social Learning in Networks: A Quantal Response Equilibrium Analysis of Experimental Data
   Levine's Bibliography, UCLA Department of Economics View citations
8. Substantive and Procedural Rationality in Decisions under Uncertainty
   Levine's Bibliography, UCLA Department of Economics
9. Trading in Networks: A Normal Form Game Experiment
   Levine's Bibliography, UCLA Department of Economics
   See also Journal Article in American Economic Journal: Microeconomics (2009)

2006

10. Sequential Equilibrium in Monotone Games: Theory-Based Analysis of Experimental Data
    Levine's Bibliography, UCLA Department of Economics View citations
    See also Journal Article in Journal of Economic Theory (2008)

2005

11. Learning in Networks: An Experimental Study
    Levine's Bibliography, UCLA Department of Economics View citations

2003

12. Complexity and Competition, Part I: Sequential Matching
    Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge View citations
    Also in Levine's Bibliography, UCLA Department of Economics (2003) View citations
13. Financial Fragility, Liquidity and Asset Prices
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
14. Financial Intermediaries and Markets
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
    See also Journal Article in Econometrica (2004)
15. Markov Equilibria in Dynamic Matching and Bargaining Games
    Cambridge Working Papers in Economics, Faculty of Economics, University of Cambridge View citations
    Also in Working Papers, C.V. Starr Center for Applied Economics, New York University (2002)
    See also Journal Article in Games and Economic Behavior (2006)

2002

16. Asset Price Bubbles and Stock Market Interlinkages
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
17. Competitive Insurance Markets with Asymmetric Information: A Cournot-Arrow-Debreu Approach*
    Sonderforschungsbereich 504 Publications, Sonderforschungsbereich 504, Universität Mannheim View citations
18. Dollarization, Bailouts, and the Stability of the Banking System
    Discussion Paper Series, Hamburg Institute of International Economics View citations
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2001) View citations
    See also Journal Article in The Quarterly Journal of Economics (2002)

2001

19. Comparative Financial Systems: A Survey
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations

2000

20. Asset Price Bubbles and Monetary Policy
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
21. Optimal Currency Crises
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
    See also Journal Article in Carnegie-Rochester Conference Series on Public Policy (2000)

1999

22. Corporate Governance and Competition
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
23. Diversity of Opinion and Financing of New Technologies
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
    Also in Working Papers, C.V. Starr Center for Applied Economics, New York University (1998) View citations
    See also Journal Article in Journal of Financial Intermediation (1999)
24. Financial Contagion
    Levine's Working Paper Archive, David K. Levine View citations
    Also in Working Papers, C.V. Starr Center for Applied Economics, New York University (1998) View citations
    See also Journal Article in Journal of Political Economy (2001)

1998

25. Bubbles and Crises The Economic Journal
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
26. Financial Contagion Journal of Political Economy
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
27. Monotone Games with Positive Spillovers
    Working Papers, C.V. Starr Center for Applied Economics, New York University
    See also Journal Article in Games and Economic Behavior (2001)

1996

28. Experimentation, Imitation, and Stochastic Stability
    Working Papers, Boston University - Industry Studies Programme View citations
    Also in Working Papers, Boston University - Industry Studies Programme (1996) View citations
    See also Journal Article in Journal of Economic Theory (1999)
29. Financial Markets, Intermediaries and Intertemporal Smoothing
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania
    Also in Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (1995) View citations
    Working Papers, Federal Reserve Bank of Philadelphia (1995) View citations
    See also Journal Article in Journal of Political Economy (1997)

1995

30. Universal Banking, Intertemporal Smoothing and European Financial Integration
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania
31. Universal banking, intertemporal risk smoothing, and European financial integration
    Working Papers, Federal Reserve Bank of Philadelphia View citations

1994

32. A Welfare Comparison of the German and U.S. Financial Systems
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
33. A welfare comparison of intermediaries and financial markets in Germany and the U.S
    Working Papers, Federal Reserve Bank of Philadelphia View citations
    See also Journal Article in European Economic Review (1995)
34. Equilibria and Pareto Optima of Markets with Adverse Effects
    Working Papers, Boston University - Industry Studies Programme
35. Equilibria and Pareto Optima of Markets with Adverse Selection
    Working Papers, Boston University - Industry Studies Programme View citations
    See also Journal Article in Economic Theory (1996)

1992

36. Dynamic Coordiantion Games
    Working Papers, Boston University - Department of Economics
    See also Journal Article in Economic Theory (1995)
37. Information Revelation and Strategic Delay in a Model of Investment
    Working Papers, Boston University - Department of Economics View citations
    See also Journal Article in Econometrica (1994)
38. Informational Capacity and Financal Collapse
    Working Papers, Boston University - Industry Studies Programme
    Also in Working Papers, Boston University - Industry Studies Programme (1992) View citations
39. Price and Quality Cycles for Experience Goods
    Working Papers, Boston University - Industry Studies Programme
    See also Journal Article in RAND Journal of Economics (1994)

1991

40. Limited Market Participation and Volatility of Asset Prices
    Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research View citations
    Also in Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research (1991) View citations
    See also Journal Article in American Economic Review (1994)

1990

41. MEASUREMENT DISTORTION AND MISSING CONTINGENCIES IN OPTIMAL CONTRACTS
    Weiss Center Working Papers, Wharton School - Weiss Center for International Financial Research View citations
    See also Journal Article in Economic Theory (1992)
42. Optimal Risk Sharing Through Renegotiation of Simple Contracts
    Working Papers, Boston University - Industry Studies Programme
    See also Journal Article in Journal of Financial Intermediation (1991)

1984

43. A General-Equilibrium Model of the Transactions Demand for Money
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE View citations
44. Equilibrium in a Market With Sequential Bargaining and No Transaction Costs is Walrasian
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE
45. Incentive-Compatible Debt Contracts: The One-Period Problem (Revised version now published in Review of Economic Studies, 1985).)
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE
    Also in STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE (1983)

1981

46. Capital Market Imperfections in Stock Market Economies
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE

1980

47. Money, Equilibrium and Efficiency (Now published in Money in Equilibrium, ch. 7, (O.U.P, 1982).)
    STICERD - Theoretical Economics Paper Series, Suntory and Toyota International Centres for Economics and Related Disciplines, LSE

1976

48. Optimal Financial Crises
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
    See also Journal Article in Journal of Finance (1998)

Undated

49. A Welfare Comparison of the German and U.S. Financial Systems (Reprint 047)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
50. Arbitrage, Short Sales and Financial Innovation
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations
    See also Journal Article in Econometrica (1991)
51. Financial Markets, Intermediaries, and Intertemporal Smoothing (Revised 14-96)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
    Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
52. Financial Markets, Intermediaries, and Intertemporal Smoothing (Revision of 5-95) (Reprint 061)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
53. Incomplete Markets and Incentives to Set Up An Options Exchange
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations
54. Innovation in Financial Services, Relationships and Risk Sharing
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations
55. Limited Market Participation and Volatility of Asset Prices (Revised: 2-92)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations
56. Limited Market Participation and Volatility of Asset Prices (Revision of 14-91) (Reprint 043)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations
    Also in Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
57. Measurement Distortion and Missing Contingencies in Optimal Contracts (Reprint 018)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research
58. Optimal Security Design
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research View citations
    See also Journal Article in Review of Financial Studies (1988)
59. Stock Price Manipulation (Reprint 025)
    Rodney L. White Center for Financial Research Working Papers, Wharton School Rodney L. White Center for Financial Research

Journal Articles

2009

1. Complementarities and Information: An Introduction
   Journal of the European Economic Association, 2009, 7, (1), 1-10
2. Trading in Networks: A Normal Form Game Experiment
   American Economic Journal: Microeconomics, 2009, 1, (2), 114-32
   See also Working Paper (2007)

2008

3. Sequential equilibrium in monotone games: A theory-based analysis of experimental data
   Journal of Economic Theory, 2008, 143, (1), 302-330
   See also Working Paper (2006)

2007

4. Consistency and Heterogeneity of Individual Behavior under Uncertainty
   American Economic Review, 2007, 97, (5), 1921-1938 View citations
5. Financial Networks
   American Economic Review, 2007, 97, (2), 99-103 View citations
6. Revealing Preferences Graphically: An Old Method Gets a New Tool Kit
   American Economic Review, 2007, 97, (2), 153-158 View citations

2006

7. Markov equilibria in dynamic matching and bargaining games
   Games and Economic Behavior, 2006, 54, (2), 336-352
   See also Working Paper (2003)

2005

8. Are Bank Capital Ratios too High or too Low? Incomplete Markets and Optimal Capital Structure
   Journal of the European Economic Association, 2005, 3, (2-3), 690-700 View citations
9. Complexity and Competition
   Econometrica, 2005, 73, (3), 739-769 View citations
10. From Cash-in-the-Market Pricing to Financial Fragility
    Journal of the European Economic Association, 2005, 3, (2-3), 535-546 View citations

2004

11. Competition and Financial Stability
    Journal of Money, Credit and Banking, 2004, 36, (3), 453-80 View citations
    Also in Proceedings, 2004, 453-486 (2004) View citations
12. Financial Intermediaries and Markets
    Econometrica, 2004, 72, (4), 1023-1061 View citations
    See also Working Paper (2003)

2003

13. Bayesian learning in social networks
    Games and Economic Behavior, 2003, 45, (2), 329-346 View citations

2002

14. Dollarization, Bailouts, And The Stability Of The Banking System
    The Quarterly Journal of Economics, 2002, 117, (2), 467-502 View citations
    Also in Proceedings, 2001, (May), 667-681 (2001) View citations
    See also Working Paper (2002)

2001

15. Experimentation, Imitation, and Stochastic Stability: Addendum
    Journal of Economic Theory, 2001, 97, (1), 164-174 View citations
16. Financial Contagion
    Journal of Political Economy, 2001, 108, (1), 1-33 View citations
    See also Working Paper (1999)
17. Monotone Games with Positive Spillovers
    Games and Economic Behavior, 2001, 37, (2), 295-320 View citations
    See also Working Paper (1998)
18. symposium articles: Signaling in markets with two-sided adverse selection
    Economic Theory, 2001, 18, (2), 391-414

2000

19. Bubbles and Crises
    Economic Journal, 2000, 110, (460), 236-55 View citations
20. Optimal currency crises
    Carnegie-Rochester Conference Series on Public Policy, 2000, 53, (1), 177-230 View citations
    See also Working Paper (2000)

1999

21. Bubbles, Crises, and Policy
    Oxford Review of Economic Policy, 1999, 15, (3), 9-18 View citations
22. Diversity of Opinion and Financing of New Technologies
    Journal of Financial Intermediation, 1999, 8, (1-2), 68-89 View citations
    See also Working Paper (1999)
23. Experimentation, Imitation, and Stochastic Stability
    Journal of Economic Theory, 1999, 84, (1), 1-40 View citations
    See also Working Paper (1996)

1998

24. Delay and Cycles: Erratum
    Review of Economic Studies, 1998, 65, (2), 357-59
25. Optimal Financial Crises
    Journal of Finance, 1998, 53, (4), 1245-1284 View citations
    See also Working Paper (1976)

1997

26. Financial Markets, Intermediaries, and Intertemporal Smoothing
    Journal of Political Economy, 1997, 105, (3), 523-46 View citations
    See also Working Paper (1996)
27. Spoiled for choice: variety and efficiency in markets with incomplete information
    Research in Economics, 1997, 51, (1), 41-67

1996

28. Delay and Cycles
    Review of Economic Studies, 1996, 63, (2), 169-98 View citations
29. Equilibria and Pareto Optima of Markets with Adverse Selection
    Economic Theory, 1996, 7, (2), 207-35 View citations
    Also in Economic Theory, 1996, 7, (2), 207-235 (1996) View citations
    See also Working Paper (1994)
30. What have we learned from social learning?
    European Economic Review, 1996, 40, (3-5), 617-628 View citations

1995

31. A welfare comparison of intermediaries and financial markets in Germany and the US
    European Economic Review, 1995, 39, (2), 179-209 View citations
    See also Working Paper (1994)
32. Dynamic Coordination Games
    Economic Theory, 1995, 5, (1), 1-18 View citations
    See also Working Paper (1992)

1994

33. Information Revelation and Strategic Delay in a Model of Investment
    Econometrica, 1994, 62, (5), 1065-85 View citations
    See also Working Paper (1992)
34. Limited Market Participation and Volatility of Asset Prices
    American Economic Review, 1994, 84, (4), 933-55 View citations
    See also Working Paper (1991)
35. Price and Quality Cycles for Experience Goods
    RAND Journal of Economics, 1994, 25, (4), 590-607 View citations
    See also Working Paper (1992)

1992

36. A Walrasian Theory of Markets with Adverse Selection
    Review of Economic Studies, 1992, 59, (2), 229-55 View citations
37. Measurement Distortion and Missing Contingencies in Optimal Contracts
    Economic Theory, 1992, 2, (1), 1-26 View citations
    See also Working Paper (1990)
38. Standard Securities
    Review of Economic Studies, 1992, 59, (4), 731-55 View citations
39. Stock-Price Manipulation
    Review of Financial Studies, 1992, 5, (3), 503-29 View citations

1991

40. Arbitrage, Short Sales, and Financial Innovation
    Econometrica, 1991, 59, (4), 1041-68 View citations
    See also Working Paper
41. Incomplete Mechanisms and Efficient Allocation in Labour Markets
    Review of Economic Studies, 1991, 58, (5), 823-51 View citations
42. Optimal risk sharing through renegotiation of simple contracts
    Journal of Financial Intermediation, 1991, 1, (4), 283-306
    See also Working Paper (1990)

1989

43. Repudiation and Renegotiation: The Case of Sovereign Debt
    International Economic Review, 1989, 30, (1), 3-31 View citations

1988

44. Optimal Security Design
    Review of Financial Studies, 1988, 1, (3), 229-263 View citations
    See also Working Paper
45. Price Setting and Competition in a Simple Duopoly Model
    The Quarterly Journal of Economics, 1988, 103, (4), 729-39 View citations

1987

46. Limit theorems for markets with sequential bargaining
    Journal of Economic Theory, 1987, 43, (1), 20-54 View citations

1986

47. Bargaining and Competition Part I: Characterization
    Econometrica, 1986, 54, (4), 785-806 View citations
48. Bargaining and Competition Part II: Existence
    Econometrica, 1986, 54, (4), 807-18 View citations

1985

49. Incentive-Compatible Debt Contracts: The One-Period Problem
    Review of Economic Studies, 1985, 52, (4), 647-63 View citations

1983

50. Competitive Models with Keynesian Features
    Economic Journal, 1983, 93, (369a), 17-33

1981

51. Improving Coalitions in a Monetary Economy
    Review of Economic Studies, 1981, 48, (3), 365-84
52. Large Economies with Trading Uncertainty: A Correction
    Review of Economic Studies, 1981, 48, (2), 363-64 View citations

1980

53. Money, information and equilibrium in large economies
    Journal of Economic Theory, 1980, 23, (1), 28-65 View citations

1979

54. Large Economies with Trading Uncertainty
    Review of Economic Studies, 1979, 46, (2), 319-38 View citations

1978

55. A Note on Conjectural Equilibria
    Review of Economic Studies, 1978, 45, (1), 33-38 View citations
56. The core of a monetary economy without trust
    Journal of Economic Theory, 1978, 19, (2), 456-491 View citations

Books

2001

1. Comparing Financial Systems, vol 1
   MIT Press Books, The MIT Press View citations

Edited books

1992

1. Economic Analysis of Markets and Games: Essays in Honor of Frank Hahn, vol 1
   MIT Press Books, The MIT Press

Chapters

2007

1. Systemic Risk and Regulation
   A chapter in The Risks of Financial Institutions, 2007, pp 341-376 View citations