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Theoretical Economics

<!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="stylesheet" href="/ojs/public/journals/1/journalStyleSheet.css" type="text/css" />--> <LINK REL="icon" HREF="/favicon.ico" TYPE="image/x-icon"> <script> <!-- Begin windowstatus = 0; function small_window(url) { aWindow = window.open(url,"small_window","toolbar=0,status=0,scrollbars=1,location=0,resize=0,menubar=0,width=400,height=250"); windowstatus = 1; if (window.focus) {aWindow.focus()} } // End --> (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> <!-- Global site tag (gtag.js) - Google Analytics --> <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> <!-- <div id="container"> <div id="body"> <div id="main"> --> <table class="menu" width="100%"> <TR class="menu"> <!-- rectangle at top left of page [original logo color: #D32D12] --> <TD ALIGN=center rowspan="2" valign=center WIDTH="18%" BGCOLOR="#FF0000"> <!-- <TD ALIGN=center rowspan="2" valign=center WIDTH="18%" BGCOLOR="#ED2024"> --> <img src="https://econtheory.org/TE_10r_converted.png" width="50%" alt="TE logo"><br> <!-- <img src="https://econtheory.org/TE_logo_HR.jpg" width="50%" alt="TE logo"><br> --> <font color="white">ISSN (e) 1555-7561</font><br> <font color="white">(print) 1933-6837</font> </TD> <!-- header with name of journal --> <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"> <!-- horizontal 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> <!-- editorial board list at left of page --> <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>Open Access</h2> All journal content is freely available. This "Open Access" enables authors to obtain the maximum possible exposure for their work. The web makes the free dissemination of research feasible, and the free availability of sophisticated editorial software makes the cost of operating a peer-reviewed journal minimal. Open Access to research is thus socially efficient. <p> We hope that TE's lead in making the most significant research in economic theory freely available will lead others to establish Open Access journals for other fields of economics, eventually leading the profession to a new norm in which all research is freely available and under the full control of members of the profession. </div> </td> <td class="left-panel"> <table> <tr> <td valign="center"> <a href="/ojs/rss/article.rss"><img src="https://econtheory.org/ojs/templates/images/rss.png" border="0" width="15px" /></a> &nbsp; <a href="http://www.twitter.com/EconTheory" class="plain"><img src="http://twitter-badges.s3.amazonaws.com/t_mini-a.png" alt="Follow EconTheory on Twitter" border="0"/></a> </td> <td valign="center"> &nbsp;&nbsp; <a href="http://twitter.com/share" class="twitter-share-button" data-count="none" data-via="EconTheory">Tweet</a><script type="text/javascript" src="http://platform.twitter.com/widgets.js"></script> </td> </tr> </table> <!--<span class="blockTitle">About TE</span>--> <dl class="homemenu"> <dt class="first"><font class="boldRed">Open access</font><dt><a class="red" href="editorial.php">Editorial standards</a><dt><a class="red" href="refereeGuidelines.php">Referee guidelines</a><dt><a class="red" href="submit.php">Submit a paper</a><dt><a class="red" href="turnaround.php">Turnaround</a><dt><a class="red" href="copyright.php">Copyright</a><dt><a class="red" href="archiving.php">Archiving, dissemination, hard copy</a><dt><a class="red" href="policies.php">Policies</a><dt><a class="red" href="bestPaperAwards.php">Best paper awards</a><dt><a class="red" href="ojs/index.php/te/index/reports">Annual reports</a><dt><a class="red" href="history.php">Journal history</a><dt><a class="red" href="http://www.econometricsociety.org/">Econometric Society</a><dt><a class="red" href="index.php">Main page</a> </dl> <span class="blockTitle">Journal Content</span> <span class="blockSubtitle">Search</span> <form method="get" action="ojs/index.php/te/search/results"> <table> <tr> <td><input type="text" id="query" name="query" size="15" maxlength="255" value="" class="textField" /></td> </tr> <tr> <td><select name="searchField" size="1" class="selectMenu"> <option label="All" value="">All</option> <option label="Authors" value="1">Authors</option> <option label="Title" value="2">Title</option> <option label="Abstract" value="4">Abstract</option> <option label="Index terms" value="120">Keywords, JEL codes</option> <!-- <option label="Full Text" value="128">Full Text</option> --> </select></td> </tr> <tr> <td><input type="submit" value="Search" class="button" /></td> </tr> </table> </form> <br /> <a href="ojs/index.php/te/search" class="red">Advanced search</a> <p> <div class="block"> <span class="blockSubtitle">Browse</span> <ul> <li><a href="ojs/index.php/te/issue/archive" class="red">By Issue</a></li> <li><a href="ojs/index.php/te/search/authors" class="red">By Author</a></li> <li><a href="ojs/index.php/te/search/titles" class="red">By Title</a></li> </ul> </div> <span class="blockTitle">Login</span> <form method="post" action="https://econtheory.org/ojs/index.php/te/login/signIn"> <table class="nopad"> <tr> <td><label for="username">Username</label></td> <td><input type="text" id="username" name="username" value="" size="12" maxlength="32" class="textField" /></td> </tr> <tr> <td><label for="password">Password</label></td> <td><input type="password" id="password" name="password" value="" size="12" maxlength="32" class="textField" /></td> </tr> <tr> <td colspan="2"><input type="checkbox" id="remember" name="remember" value="1" /> <label for="remember">Remember me</label></td> </tr> <tr> <td><input type="submit" value="Sign In" class="button" /></td> </tr> </table> </form><hr size=1 noshade><p> <font color="red">Endorsed by</font><br><br> <a href="http://www.arl.org/sparc/"><img src="https://econtheory.org/SPARC-logo.gif" border="0"></a> </td> </tr> </table> <!-- </div> --> </body> </html>

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