Publications

 Publications in refereed journals:

• Experimentation in Two-Sided Markets
  accepted for publication in the Journal of the European Exonomic Association
  (with Martin Peitz and Piers Trepper)
• Strategic Experimentation with Private Payoffs
  Journal of Economic Theory 159, 2015
  (with Paul Heidhues and Philipp Strack)
• Breakdowns
  Theoretical Economics 10, 2015
  (with Godfrey Keller)
• Negatively Correlated Bandits
  Review of Economic Studies 78(2), 2011
  (with Nicolas Klein)
• Strategic Experimentation with Poisson Bandits
  Theoretical Economics 5(2), 2010
  (with Godfrey Keller)
• Heterogeneity within Communities: A Stochastic Model with Tenure Choice
  Journal of Urban Economics 64(1), 2008
  (with François Ortalo-Magné)
• Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints
  Review of Economic Studies 73(2), 2006
  (with François Ortalo-Magné)
• Strategic Experimentation with Exponential Bandits
  Econometrica 73(1), 2005
  (with Godfrey Keller and  Martin Cripps)
• Housing Transactions and Macroeconomic Fluctuations: A Case Study of England and Wales
  Journal of Housing Economics 13(4), 2004
  (with François Ortalo-Magné)
• Price Dispersion and Learning in a Dynamic Differentiated Goods-Duopoly
  RAND Journal of Economics 34(1), 2003
  (with Godfrey Keller)
• Tenure Choice and the Riskiness of Non-Housing Consumption
  Journal of Housing Economics 11(3), 2002
  (with François Ortalo-Magné)
• Strategic Trading and Learning about Liquidity
  Journal of Financial Markets 5(4), 2002
  (with Harrison Hong)
• Housing Transactions in England and Wales: Current Trend and Future Prospects
  Housing Finance 46, 2000
  (with François Ortalo-Magné)
• Optimal Experimentation in a Changing Environment
  Review of Economic Studies 66(3), 1999
  (with Godfrey Keller)
• Boom In, Bust Out: Young Households and the Housing Price Cycle
  European Economic Review 43(4-6), 1999
  (with François Ortalo-Magné)
• Option Pricing in the Presence of Natural Boundaries and a Quadratic Diffusion Term
  Finance and Stochastics 1(4), 1997
• The Direct Approach to Debt Option Pricing
  Review of Futures Markets 13(2), 1994
  (with Klaus Sandmann)

Other publications:

• Fluktuationen des Wohnimmobilienmarktes
  Research Report, ifo Institute, Munich, April 2004
  (with Volker Rußig)
• The Rise and Fall of Residential Transactions in England and Wales
  Research Report, Council of Mortgage Lenders, London, 2000
  (with François Ortalo-Magné)

Unpublished discussion and working papers:

• Undiscounted Bandit Games
  SFB/TR 15 Discussion Paper No. 520, September 2015 (with Godfrey Keller)
• Strongly Symmetric Equilibria in Bandit Games
   SFB/TR 15 Discussion Paper No. 469, August 2014 (with Johannes Hörner and Nicholas Klein)
• Why Are Housing Prices So Volatile? Income Shocks in a Stochastic Heterogeneous-Agents Model
  June 1999 (with François Ortalo-Magné)
• State Prices Implicit in Valuation Formulae for Derivative Securities
  LSE Financial Markets Group Discussion Paper No. 181, January 1994

Ongoing projects:

 
"A Two-Player Bandit Game with General Correlation of Risky Arms" (with Nicolas Klein)