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<!DOCTYPE html> <html lang="en"> <head> <meta charset="utf-8" /> <TITLE>Theoretical Economics</TITLE> <META NAME="keywords" CONTENT="Theoretical Economics, Open Access Economic Theory journal, economic theory, open access journal"> <META NAME="alias" CONTENT="http://econtheory.org/"> <META NAME="description" CONTENT="Theoretical Economics, an Open Access Economic Theory journal publishing leading research in economic theory"> <link rel="stylesheet" href="ojs/styles/common.css" type="text/css" />  <LINK REL="icon" HREF="/favicon.ico" TYPE="image/x-icon"> <script>  (function(i,s,o,g,r,a,m){i['GoogleAnalyticsObject']=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,'script','https://www.google-analytics.com/analytics.js','ga'); ga('create', 'UA-102823963-1', 'auto'); ga('send', 'pageview'); </script>  <script async src="https://www.googletagmanager.com/gtag/js?id=G-P8TRM6W04Y"></script> <script> window.dataLayer = window.dataLayer || []; function gtag(){dataLayer.push(arguments);} gtag('js', new Date()); gtag('config', 'G-P8TRM6W04Y'); </script> </head> <body>  <table class="menu" width="100%"> <TR class="menu">  <TD ALIGN=center rowspan="2" valign=center WIDTH="18%" BGCOLOR="#FF0000">  <img src="https://econtheory.org/TE_10r_converted.png" width="50%" alt="TE logo"><br>  <font color="white">ISSN (e) 1555-7561</font><br> <font color="white">(print) 1933-6837</font> </TD>  <TD colspan="3" bgcolor="#FFCC99" align=center class="mainhead"> <B><FONT class="pubhead">Theoretical Economics</FONT></B><br> <FONT class="pubsubhead">An open-access journal in economic theory</font> </td> <td width="18%" rowspan="2" align="center" bgcolor="#FF0000" class="menu3"> <font class="subhead"><b>A journal of the</b></font><br> <a class="orange" href="http://www.econometricsociety.org/"><font class="subhead"><b>Econometric Society</b></font></a> </td> </TR> <TR class="menu">  <TD class="menu4"> <a class="red" href="index.php">Main page</a> </TD> <TD class="menu4"> <a class="red" href="submit.php">Submit a paper</a> </TD> <TD class="menu4"> <a class="red" href="http://www.econometricsociety.org/memb.asp">Join the Econometric Society</a> </TD> </TR>  <TR class="menu" VALIGN=TOP> <TD class="left-panel"> <a class="red" href="ed_board.php"><b>Editorial Board</b></a> <dl class="menu"> <dt>Editor<dd><ul class="plain"><li><a class="red" href="ed_board.php#259">Simon Board</a></ul><dt>Coeditors<dd><ul class="plain"><li><a class="red" href="ed_board.php#168">Todd D. Sarver</a><li><a class="red" href="ed_board.php#2405">Juuso Toikka</a><li><a class="red" href="ed_board.php#1513">Rakesh Vohra</a><li><a class="red" href="ed_board.php#1862">Pierre-Olivier Weill</a></ul><dt>Associate Editors<dd><ul class="plain"><li><a class="red" href="ed_board.php#2191">Scott Ashworth</a><li><a class="red" href="ed_board.php#4133">Sarah Auster</a><li><a class="red" href="ed_board.php#2825">Mariagiovanna Baccara</a><li><a class="red" href="ed_board.php#2271">Marco Bassetto</a><li><a class="red" href="ed_board.php#1395">Francis Bloch</a><li><a class="red" href="ed_board.php#3085">J. Aislinn Bohren</a><li><a class="red" href="ed_board.php#2916">Jaroslav Borovicka</a><li><a class="red" href="ed_board.php#4656">Benjamin Brooks</a><li><a class="red" href="ed_board.php#761">Christopher P. Chambers</a><li><a class="red" href="ed_board.php#1501">Geoffroy de Clippel</a><li><a class="red" href="ed_board.php#3160">Rahul Deb</a><li><a class="red" href="ed_board.php#656">Eddie Dekel</a><li><a class="red" href="ed_board.php#1717">Laura Doval</a><li><a class="red" href="ed_board.php#4093">Piotr Dworczak</a><li><a class="red" href="ed_board.php#174">Federico Echenique</a><li><a class="red" href="ed_board.php#2897">Andrew Ellis</a><li><a class="red" href="ed_board.php#997">Ignacio Esponda</a><li><a class="red" href="ed_board.php#3899">Alex Frankel</a><li><a class="red" href="ed_board.php#2776">Mira Frick</a><li><a class="red" href="ed_board.php#3331">Yingni Guo</a><li><a class="red" href="ed_board.php#3976">Benjamin H茅bert</a><li><a class="red" href="ed_board.php#633">Johannes H枚rner</a><li><a class="red" href="ed_board.php#1351">Fuhito Kojima</a><li><a class="red" href="ed_board.php#176">Vijay Krishna</a><li><a class="red" href="ed_board.php#4636">Pablo Kurlat</a><li><a class="red" href="ed_board.php#1619">Stephan Lauermann</a><li><a class="red" href="ed_board.php#2121">Benjamin Lester</a><li><a class="red" href="ed_board.php#4469">Shengwu Li</a><li><a class="red" href="ed_board.php#2608">Elliot Lipnowski</a><li><a class="red" href="ed_board.php#3855">Jay Lu</a><li><a class="red" href="ed_board.php#188">George J. Mailath</a><li><a class="red" href="ed_board.php#2865">Ezra Oberfield</a><li><a class="red" href="ed_board.php#2326">Antonio Penta</a><li><a class="red" href="ed_board.php#191">Marcin P臋ski</a><li><a class="red" href="ed_board.php#1574">John K.-H. Quah</a><li><a class="red" href="ed_board.php#144">Ariel Rubinstein</a><li><a class="red" href="ed_board.php#1654">Philipp Sadowski</a><li><a class="red" href="ed_board.php#4725">Florian Scheuer</a><li><a class="red" href="ed_board.php#459">Uzi Segal</a><li><a class="red" href="ed_board.php#189">Ran Spiegler</a><li><a class="red" href="ed_board.php#360">Yves Sprumont</a><li><a class="red" href="ed_board.php#1423">Satoru Takahashi</a><li><a class="red" href="ed_board.php#2364">Juuso V盲lim盲ki</a><li><a class="red" href="ed_board.php#2703">Alexander Westkamp</a><li><a class="red" href="ed_board.php#1282">Thomas Wiseman</a></ul> </dl> <hr noshade size=1> <a class="red" href="acknow.php">Acknowledgments</a> </TD> <td colspan="3" class="border=hidden"> <div id="home"> <h2>Acknowledgments</h2> This website was designed and built by Martin Osborne and originally hosted by the University of Toronto. We owe Martin a great debt for his dedication to the journal, his creativity, and keen eye for detail. We are also grateful to Kim Border for generous technical assistance. 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